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Nine banks report N37.63tn customers‘ deposit in 2022

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Nine Nigerian banks listed on the Nigerian Exchange have recorded an increase in customer deposits in 2022.

Checks on the banks’ unaudited financial records showed that customers deposit rose by 21.43 percent to N37.63 trillion in 2022 from N27.26 trillion in the previous year.

The banks surveyed are Fidelity Bank, Ecobank, First City Monument Bank, First Bank of Nigeria, Unity Bank, United Bank for Africa (UBA), Zenith Bank, Stanbic IBTC, Jaiz Bank, and Wema Bank.

A breakdown shows Ecobank, Zenith, and UBA are the top three banks with the highest customer deposits in 2022.

Ecobank rose from N8.361 trillion in 2021 to N9.597 trillion in 2022, while Zenith Bank’s deposits increased from N6.472 trillion to N8.976 trillion in the same period.

UBA also saw a significant jump in customer deposits, with figures rising from N6.369 trillion to N7.825 trillion.

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Other banks that reported an increase in customer deposits included Fidelity Bank (N2.592 trillion in 2022 compared to N2.025 trillion in 2021), FCMB (N1.945 trillion in 2022 compared to N1.554 trillion in 2021), Stanbic IBTC (N1.245 trillion in 2022 compared to N1.245 trillion in 2021).

Also Wema Bank (N1.166 trillion in 2022 compared to N927.471 billion in 2021), and Unity Bank (N327.430 billion in 2022 compared to N322.285 billion in 2021).

Jaiz Bank, Nigeria’s biggest Islamic bank also reported a rise in customer deposits, from N111.559 billion in 2021 to N140.815 billion in 2022.

Access Bank has not yet released its figures, and neither have some other banks such as Guaranty Trust Bank.

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