Nigerian banks are losing ground in the digital payments race, with revenue from electronic business channels declining by 3.7 percent in the first half (H1) of 2025, highlighting fintechs’ rising dominance and the lingering problem of service downtime.
BusinessDay's analysis of seven listed banks' half-year earnings shows a mixed picture. Some lenders like FCMB Group, Zenith Bank, Guaranty Trust Holding Company (GTCO), and United Bank for Africa (UBA) reported declines, while First HoldCo, Stanbic IBTC Holdings Plc
Nigerian banks are losing ground in the digital payments race, with revenue from electronic business channels declining by 3.7 percent in the first half (H1) of 2025, highlighting fintechs’ rising dominance and the lingering problem of service downtime.
BusinessDay's analysis of seven listed banks' half-year earnings shows a mixed picture. Some lenders like FCMB Group, Zenith Bank, Guaranty Trust Holding Company (GTCO), and United Bank for Africa (UBA) reported declines, while First HoldCo, Stanbic IBTC Holdings Plc
