According to an examination of the financial filings of banks listed on the Nigerian Exchange Limited, Guaranty Trust Holding Company Plc had the largest net income margin in the first half of 2021.
In total, the 13 commercial banks listed on the NGX generated N1.76 trillion in revenue in H1 2021. During the same time period, the banks earned a total of N460.41 billion in net income.
Banks, unlike other companies listed on the exchange, do not simply display revenue as the top line on the income statement; instead, they provide gross margin, net interest income, and other information.
The total revenue generated by a bank in a given period is calculated by adding net interest income and non-interest income.
GTCO had the largest profit margin or net income as a percentage of revenue.
Access Bank Plc, Ecobank Transnational incorporated, FBN Holdings Plc, FCMB Group Plc, Fidelity Bank Plc, Guaranty Trust Holding Company plc, and Stanbic IBTC Plc were among the 13 institutions examined in this report.
Sterling Bank Plc, United Bank for Africa Plc, Union Bank of Nigeria Plc, Unity Bank Plc, Wema Bank Plc, and Zenith Bank Plc also made the list.
ETI generated the largest income in H1 across its companies, totaling N334.88 billion, followed by Zenith Bank with N286.71 billion, Access Bank with N258.79 billion, UBA with N193.84 billion, and GTCO with N187.45 billion.
GTCO ranked first in net income margin at 42.36 percent, with a net income of N79.41 billion. Zenith Bank made a profit of N106.12 billion, accounting for 37.01 percent of revenue; UBA made a profit of N60.58 billion, accounting for 31.25 percent of revenue; Stanbic IBTC made a profit of N22.54 billion, accounting for 28.61 percent of revenue; and Fidelity Bank made a profit of N19.31 billion, accounting for 27.52 percent of revenue.
UBN (N9.84bn) had a 20.37 percent share, ETI (N62.55bn) had a 0.19 percent share, Access (N258.79bn) had a 16.87 percent share, Wema (N25.94bn) had a 14.34 percent share, FCMB (N55.93bn) had a 13.52 percent share, Sterling had a 12.54 percent share, and Unity had a 10.66 percent share.