Four Nigerian Tier 1 banks: Zenith, GTBank, Access and UBA have turned in their Q1, 2019 reports to the Nigerian Stock Exchange. The reports show a bit of distortions to the existing Tier 1 structure especially with the New Access Bank (Access acquisition of Diamond Bank) taking the lead as the biggest Tier 1 Lender in Asset size, Customer’s deposit and Loan balance.
The four banks increase their combined balance sheet items considerably with growth of 10 percent, 13 percent, 8 percent and 6 percent in Asset base, Customer deposit, Loans and Advances and Equity respectively.
Total Asset of the four Nigerian tier 1 banks combined grew by over N1.9 trillion, Customer Deposit increased by N1.6 trillion and Loans & Advances grew by N573 billion while Equity increased by N143 billion.
- Access Bank expectedly, had the highest Q on Q growth in both absolute figures and percentages on all the four balance sheet items. With a growth of N1.47 trillion in Assets, N1.36 trillion in Deposit, N607 billion in Loans and Advances and N86 billion in Owner’s Equity.
- Two other banks: GTBank and UBA increased their Assets by N269 billion and N245 billion respectively from Q4, 2018 to Q1, 2019. For Customer Deposit UBA grew by N183 billion and GTBank by N136 billion with 3 months.
- For Loans and Advances, GTBank grew by N22 billion and UBA depleted its Loan balance by N25 billion. While both banks were able to increase their Shareholders funds by N52 billion and N41 billion respectively.
- Only Zenith Bank lost balances on all the four balance sheet items from Q4, 2018 to Q1, 2019. With the biggest depletion of N119 billion from Customer Deposit. The bank shed its Total Assets, Loans and Advances and Shareholder’s Equity by N77 billion, N31 billion and N35 billion respectively.
Nigerian tier 1 banks