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Mar 16
top bank in nigeria by GROSS EARNIGS 2019

The 2019 top banks in Nigeria by earnings

  • March 16, 2019
  • StartCredits
  • Bank Loans in Nigeria

Gross earnings are income before taxes or adjustments, it is calculated as revenues minus expenses. Bank’s gross earnings is one measure among many of how well it uses its resources to produce a profit. In this educational article, we list the 2019 top banks in Nigeria by earnings.

A company’s gross earnings are reported periodically on its income statement. The first line of the income statement reports a company’s total sales and revenues for a given time period, while the COGS and gross earnings often appear on the second and third lines of many income statements. The difference between revenue and the COGS is a company’s gross earnings. The COGS includes costs directly related to the company’s product such as materials for manufacturing, inventory for shops and labor costs. Indirect costs are not included in the COGS.

Once a business has calculated its gross earnings, it may then subtract the rest of its business expenses including costs such as utilities, loan repayments, office supplies, contractor fees and many other expenses. The difference between the business’s gross earnings and its operating and capital expenses is its profit.

The 2019 top banks in Nigeria by earnings

top bank in nigeria by GROSS EARNIGS 2019

From the table and figure above, year 2017 and 2018 record the same banks with highest and lowest gross earnings. Banks with highest gross earnings are; Zenith Bank Plc (#735bn), First Bank Nigeria ((#583bn) Access Bank Plc (#528bn).

 

Gross Earnings

20172018
Wema Bank Plc65,26971,530
Union Bank of Nigeria Plc145,000168,000
Fidelity Bank Plc180,200188,900
Stanbic IBTC Bank Ltd.211,242222,360
Guaranty Trust Bank Plc419,200434,700
United Bank For Africa Plc461,557494,045
Access Bank Plc459,076528,745
FIRST BANK NIGERIA LIMITED595,466583,477
Zenith Bank Plc732,619735,646
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  • The 2018 top banks in Nigeria by earningsJuly 18, 2018

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