Five mid-sized banks grow assets to N20.47tn, post N338.4bn H1 2026 profit
By Aboki Forex —
Five mid-sized Nigerian banks grew their total assets to N20.47tn and made N338.4bn in profit after tax in the first half of 2026. The lenders also generated combined gross earnings of N1.43tn in the six months ended June 30.
The banks are Wema Bank, FCMB Group, Sterling Financial Holdings, Jaiz Bank and Infinity Trust Mortgage Bank. They are classified as Tier 2 lenders.
What the numbers show
Total assets are things a bank owns or is owed that have financial value and can provide future economic benefits. They include loans, cash, investments and property.
The combined N20.47tn asset base reflects growth across the five lenders. Their N338.4bn profit after tax shows the group stayed profitable in the period. Gross earnings, also called turnover, reached N1.43tn.
Big banks yet to report
Nigeria's biggest banks, known as Tier 1 lenders, have yet to publish their audited results for the first half of 2026. That leaves the Tier 2 performance as an early read on how parts of the banking sector are performing.
Why it matters
The results show mid-sized banks are growing their balance sheets and earnings. For customers and businesses, stronger Tier 2 lenders could mean more competition for deposits, loans and digital banking services. For the naira, the asset and profit figures reflect a banking sector still making money despite the operating environment.