Zenith Bank’s electronic banking revenue grew by 54.51% in 2024, reaching ₦80.05 billion, up from ₦51.8 billion in 2023.
This significant increase highlights the rising adoption of digital banking services.
The figures were revealed in Zenith Bank’s unaudited financial statement for the year ended December 31, 2024.
Electronic fees include income from ATM withdrawals, balance inquiries, debit and credit card transactions, as well as online and mobile banking services like transfers and bill payments.
Banks also generate revenue from interbank transfers, SMS and email alerts, and merchant payment processing fees.
The rise in Zenith Bank’s electronic fees in 2024 is mainly driven by increased adoption of digital banking and higher transaction volumes.
Additionally, the bank earned ₦13.48 billion from foreign currency transaction fees in 2024, marking a 221.72% increase from ₦4.19 billion in 2023, according to its unaudited financial statement.
Zenith Bank earned ₦78.53 billion from foreign withdrawal fees in 2024, a 298% increase from ₦19.72 billion in 2023, according to its unaudited financial statement.
Zenith Bank reported a pre-tax profit of ₦1.32 trillion in 2024, the highest in its history, reflecting a 66.6% year-on-year growth.
The bank’s workforce expanded by 15%, reaching 7,704 employees from 6,681 in 2023. Women now constitute 53% of the workforce, up from a near-equal gender split the previous year.
The report also notes a 7% increase in female representation on Zenith Bank’s board, with women now holding 36% of the 14 board seats, up from 29% in 2023.
