Nigerian banks earned N224.69bn from electronic banking services and ATM/card-related charges in the first quarter of 2026, marking a 12.56 per cent increase from N199.61bn recorded in the same period of 2025, according to an analysis of the unaudited financial results of 11 listed lenders.

The growth reflects the continued expansion of digital banking and electronic payment services, with revenue from e-banking channels contributing significantly to banks’ non-interest income during the period.

Analysis show that electronic banking and ATM/card management fee income rose by N25.06bn year-on-year, increasing from N199.61bn in Q1 2025 to N224.67bn in Q1 2026, according to The Punch.

A breakdown indicates that revenue from electronic banking and e-business activities grew by 11.57 per cent to N177.97bn, up from N159.52bn in the corresponding period of 2025.

Similarly, income from ATM and card management fees rose by 16.48 per cent to N46.70bn, compared to N40.09bn recorded in Q1 2025.

The growth in digital banking revenue coincided with a broader increase in banking sector fee income. The PUNCH earlier reported that total fee and commission earnings of the 11 lenders rose by 13.64 per cent to N984.47bn, up from N866.30bn in the corresponding period.
Similarly, account maintenance fee income increased by 14.07 per cent to N209.18bn from N183.37bn.

Among the banks reviewed, Access Holdings led with N55.71bn in e-banking revenue in Q1 2026, followed by United Bank for Africa with N46.93bn.

Ecobank generated N35.53bn from card management fees, while Guaranty Trust Holding Company posted N21.90bn in e-business income. Zenith Bank recorded N21.54bn from electronic product fees.

Other notable contributors included First Holdco, which recorded N20.75bn, and Wema Bank with N6.10bn. Fidelity Bank posted a combined N8.81bn from ATM charges and e-banking commissions, while Stanbic IBTC Holdings generated N4.33bn from card-based commissions and electronic banking fees.

Sterling Financial Holdings earned N2.89bn, and Jaiz Bank reported N187.05m from digital and card-related service charges.

An analysis of growth rates shows that Fidelity Bank recorded the strongest expansion in digital banking-related income. Its combined ATM charges and e-banking commissions surged by 164.9 per cent to N8.81bn from N3.08bn in the corresponding period of 2025, driven largely by a 240.8 per cent jump in ATM-related fees.

Guaranty Trust Holding Company followed with a 68.64 per cent increase in e-business income to N21.90bn from N12.99bn. Stanbic IBTC Holdings’ combined card-based commission and electronic banking income rose by 52.8 per cent to N4.33bn, while Zenith Bank’s electronic product fees climbed by 58.91 per cent to N21.54bn.

Sterling Financial Holdings recorded a 22.15 per cent increase in e-business commissions and fees, while Access Holdings posted a 15.2 per cent rise in channels and e-business income to N55.71bn.

However, some lenders saw declines in digital banking-related income. Wema Bank recorded the steepest drop, with fees on electronic products falling by 50.68 per cent to N6.10bn from N12.37bn.

Stanbic IBTC Holdings’ electronic banking fees declined by 20.57 per cent to N865m, while United Bank for Africa (UBA) saw a marginal 1.91 per cent dip in electronic banking income to N46.93bn. Ecobank’s card management fees also slipped by 1.52 per cent to N35.53bn.