Zenith Bank recorded N291.8 billion in net income from commissions and fees in the 2025 financial year, highlighting the growing contribution of non-interest revenue streams to the bank’s overall earnings.
The disclosure was contained in the lender’s 2025 financial results, released on Tuesday.
According to the report, the bank generated N405.8 billion in gross fees and commissions during the year. However, it spent N114 billion in related expenses, leaving a net income of N291.8 billion from the segment.
Fees and commission income for banks typically include credit-related charges such as advisory, penal, and commitment fees, which are paid for administrative and advisory services rendered to customers up to the point of acceptance of loan offer letters.
The category also covers account maintenance charges—calculated at N1 on every N1,000 for customer-induced debit transactions—as well as card maintenance fees, which are billed monthly throughout the validity period of a card.
A breakdown of the income shows that account maintenance fees contributed the largest share, generating N91.9 billion for the bank during the year.
Fees earned from electronic banking products followed closely, bringing in N89.1 billion, reflecting the continued growth in digital transactions across Nigeria.
In addition, the bank earned N29.4 billion from foreign currency transaction fees and commissions, while foreign withdrawal charges contributed N19.1 billion to total income.
Another N53.1 billion was realised from financial guarantee contracts issued by the bank.
The strong revenue from charges and commissions comes amid increased scrutiny of bank deductions by lawmakers.
In October, an investigative panel of the House of Representatives summoned chief executives of commercial banks to appear before it over allegations of illegal and unexplained deductions from customers’ bank accounts.
Speaking during the panel session, the committee chairman, Kelechi Nwogu, accused commercial banks of imposing systematic and unlawful deductions on customers.
“Commercial banks are perpetrating illegality by deducting inexplicable charges from civil servants, public servants and other customers’ bank accounts without remittances,” Nwogu said.
He pointed to common deductions such as SMS alert charges, account maintenance fees, and transfer charges, raising concerns about their legality, transparency, and proper utilisation.
The committee said the investigation aims to ensure that all deductions imposed by banks are properly authorised, accurately calculated, and transparently utilised.
Despite the scrutiny, Zenith Bank posted a pre-tax profit of N1.26 trillion for the 2025 financial year, representing a 4.78 per cent decline compared with the previous year.
The bank’s performance was supported by strong growth in interest income, which rose to N3.6 trillion, up from N2.7 trillion recorded in 2024.
Loans and advances to customers contributed the largest share of this income at N1.8 trillion, reflecting a 20.15 per cent increase. Treasury bills also generated significant returns, bringing in N1.1 trillion.
Based on the performance, the bank proposed a final dividend of N8.75 per share, up from N4.00 per share previously declared.
This brings the total dividend for the 2025 financial year to N10.00 per share, including the N1.25 interim dividend paid earlier in the year.
