Zenith, Access Holding lead N906bn drop in mortgage loss costs

Zenith Bank, Access Holdings and Guaranty Trust Holding Company (GTCO) accounted for a major discount in credit score impairment costs throughout eight Nigerian listed banking teams within the first 9 months of 2026, serving to to maintain profitability regardless of declining internet curiosity revenue and rising working prices.

An evaluation of the banks’ monetary statements reveals that mixed impairment costs fell by 48.1 per cent to N977 billion in September 2026, from N1.88 trillion within the corresponding interval of 2025, representing a discount of roughly N906 billion.

Zenith Bank and Access Holdings alone accounted for about N809 billion of the decline, whereas GTCO recorded a further discount of roughly N39.6 billion.

The decrease credit-loss provisions offered substantial assist for earnings, with the eight banking teams recording a mixed 14.2 per cent improve in revenue earlier than tax (PBT) to N5.29 trillion from N4.63 trillion.

Zenith Bank recorded the most important discount in impairment costs, at roughly N552 billion. However, its PBT elevated by simply 1.2 per cent to N928.80 billion from N917.41 billion, indicating that decrease credit score provisions helped cushion pressures elsewhere in its operations.

Access Holdings recorded a N257.08 billion, or 73.5 per cent, decline in impairment costs to N92.91 billion. Its PBT rose 8.3 per cent to N667.36 billion, whereas internet curiosity revenue elevated marginally by 2.7 per cent to N1.29 trillion.

GTCO’s impairment costs additionally declined by roughly N39.6 billion, however its PBT fell 2.3 per cent to N879.90 billion, suggesting that decrease credit score prices have been inadequate to offset different earnings pressures.

The enchancment in credit score prices got here as mixed internet curiosity revenue, the banks’ largest income supply, declined 1.8 per cent to N7.88 trillion from N8.02 trillion.