In Show of Public Confidence in Banking System, Customers’ Deposits in 10 Banks Hit N140.97tn in 2024 Kayode Tokede Despite a severe competition from fintech companies operating in Nigeria, and other sub-Saharan African countries, a total of 10 Deposit Money Banks (DMBs)
generated N140.97 trillion as deposits from customers in 2024. This represents a 51 per cent growth in deposits when compared to N93.5 trillion generated in 2023, according to the audited results and accounts posted on the Nigerian
Exchange Limited (NGX). The development also indicates increased public confidence in the formal banking system amid the high cost of living, orchestrated by the double-digit inflation rate and devaluation of the naira.
The DMBs are: Ecobank Transnational Incorporated (ETI), Access Holdings Plc, Zenith Bank Plc, United Bank for Africa (UBA) Plc, Guaranty Trust Holding Company Plc (GTCO), First Holdco Plc, Fidelity Bank Plc, FCMB Group
Plc, Stanbic IBTC Holdings Plc, and Wema Bank Plc. These DMBs experienced a remarkable surge in deposits from customers in recent years. Deposits from customers are among the most competitive
assets in the banking sector, as they serve as the primary source for issuing loans and funding other investments. Among the 10 listed DMBs on Continued on page 5
See eCopy of THISDAY Style on www.thisdaylive.com Sunday, April 27, 2025 Vol 30. No 10976
www.thisdaylive.com TR
UT H
& RE A S O
N500
N
APC Will Soon Implode, Says Wabara… Page 8
Edun, Cardoso: Tinubu’s Reforms Have Restored Investors’ Confidence, Stabilised FX Market Hail Nigerians’ resilience, say FG targeting single-digit inflation, protection of purchasing power Shettima seeks international collaboration to advance Nigeria’s human capital devt strategy Deji Elumoye in Abuja, Eromosele Abiodun and Nume Ekeghe in Washington DC
The Minister of Finance and Coordinating Minister of the
Economy, Mr. Wale Edun, and the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso,
have declared that President Bola Tinubu’s economic reforms have restored the confidence of investors in
the Nigerian economy and stabilised foreign exchange (FX) market.
While stressing that the federal Continued on page 5
Trump, Macron, Starmer, Other World Leaders Bid Final Farewell to Pope Francis See story on page 5
Hundreds of thousands witness funeral How first non-European pope in almost 13 centuries requested for simple burial
WORLD LEADERS STAND STILL FOR POPE FRANCIS… (First Row: L-R) French President’s wife, Brigitte Macron; French President, Mr. Emmanuel Macron; Finland’s President, Mr. Alexander Stubb; US President, Mr. Donald Trump; his wife, Melania; Estonia’s President, Mr. Alar Karis; Spain’s King, Felipe VI; and his wife, Queen Letizia; and other world leaders observing the coffin of the late Pope Francis during the funeral ceremony at St Peter’s Square in The Vatican...yesterday PHOTO AFP