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Nairaland Forum / Nairaland / General / Business / 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 (16101 Views)
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5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by dipoolowoo: 4:25pm On Apr 29, 2019 |
By Modupe Gbadeyanka A total of N15.7 billion was netted by the five biggest banks in Nigeria from maintaining the account of their customers in the first quarter of 2019, the research team of Business Post has confirmed. The five bank are Zenith Bank, Access Bank, Guaranty Trust Bank (GTBank), United Bank for Africa (UBA) and First Bank, which our research team tagged ZAGUF. Some days ago, the banks, alongside other publicly quoted companies, released their financial statements to the Nigerian Stock Exchange (NSE) for the period ended March 31, 2019. An analysis of the financial positions of these ZAGUF banks showed that the amount generated from Account Maintenance Charges increased in the period under review when compared with the same period of last year. In the first quarter of last year, the five big boys in the Nigerian banking industry generated the sum of N13.2 billion from Account Maintenance Charges, indicating that the amount increased by N2.5 billion or 18.94 percent in 12 months. A further analysis of the results indicated that Zenith Bank made the highest amount from maintaining accounts of customers domiciled with them. The lender netted N5.238 billion from current account maintenance charges against the N4.962 billion it generated in the first three months of 2018. Following were First Bank, which earned N3.218 billion in Q1 2019 in contrast to N2.986 billion in Q1 2018, and GTBank, which raked N3.045 billion in the period under review versus N2.745 billion earned exactly 12 months ago. Occupying the fourth position was Access Bank, which generated N2.212 billion from Account Maintenance Charges against N896 million in Q1 2018, while UBA raked N1.967 billion in Q1 2019 versus N1.598 billion in Q1 2018. https://businesspost.ng/2019/04/29/5-banks-earn-n15-7bn-on-account-maintenance-charges-in-q1-2019/ |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by CloudResident(m): 7:48pm On Apr 29, 2019 |
Today is my Ftc day ![]() These guys are just corporate thieves and nothing else! The industry regulators are also happy about it too. Too bad ![]() 21 Likes |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Nobody: 7:48pm On Apr 29, 2019 |
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Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Bbbwings: 7:48pm On Apr 29, 2019 |
M |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by emeijeh(m): 7:48pm On Apr 29, 2019 |
1 Like 1 Share |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by ayanleye12(m): 7:48pm On Apr 29, 2019 |
First to comment |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by BruncleZuma: 7:49pm On Apr 29, 2019 |
Nigeria |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Cryomancer: 7:49pm On Apr 29, 2019 |
15.7 billion Naira...!! Are they buying engine oil from GAZZUZZ to service the engine of the debit card and the door of my account ni? Abeg I still don't understand the wizardry behind this broad day rip-off called maintenance charge by banks. 54 Likes 3 Shares
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Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by ProsperChild: 7:49pm On Apr 29, 2019 |
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Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by TLE900: 7:49pm On Apr 29, 2019 |
What? |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Bobbyjay001(m): 7:49pm On Apr 29, 2019 |
It has no any other name. It's called "daylight robbery". . 35 Likes |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by femsuper: 7:49pm On Apr 29, 2019 |
The question is to what extent are the charges justified? 6 Likes |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Amutta04(m): 7:49pm On Apr 29, 2019 |
Wetin those banks dey take our N52 naira maintain sef.. I get the debit almost every time i use another bank atm for withdrawal 5 Likes |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by SamOyovwi: 7:50pm On Apr 29, 2019 |
Na so them take dey thieve our money o |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by franchuks(m): 7:50pm On Apr 29, 2019 |
This is very outrageous.... You charge us for ATM cards and you still charge us to maintain the same ATM cards. Who will save us from this? 24 Likes 1 Share |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Maxxy45: 7:50pm On Apr 29, 2019 |
Space booked |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by elijahsinto(m): 7:50pm On Apr 29, 2019 |
. |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by KingLennon(m): 7:50pm On Apr 29, 2019 |
Can you imagine! What are the maintaining? With the online banking charges and the rest. How did Diamond bank fold with this sort of figures am seeing? 1 Like |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Nobody: 7:50pm On Apr 29, 2019 |
Bubu was right, majority of Nigerians & it's institutions are fantastically corrupt. lets just admit it If you feel offended, you MUST BE PART OF THAT MAJORITY, SUBCONSCIOUSLY trying to defend urself. thief!!! 4 Likes
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Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Ebenezerk2: 7:50pm On Apr 29, 2019 |
Zenith bank is a thief bank, they charge anyhow, how won't they earn more than others? 2 Likes 1 Share |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Upton: 7:51pm On Apr 29, 2019 |
Them dey wash the accounts? And I have accounts in three of those five banks. I feel cheated ![]() 9 Likes |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Nobody: 7:51pm On Apr 29, 2019 |
These banks have milked us. 3 Likes
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Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by mBillz: 7:51pm On Apr 29, 2019 |
This is a rip-off! CBN should wade in ASAP. 2 Likes |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Ololanla: 7:52pm On Apr 29, 2019 |
Too bad... |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Gforce2019: 7:52pm On Apr 29, 2019 |
Honestly, these banks are just exploiting us and nobody is saying anything. Can you imagine? Billions of naira from customers' money. They are part of the internet robbers that effc shld investigate and jail 4 Likes |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Nobody: 7:52pm On Apr 29, 2019 |
That's how one Nigerian bank kept taking part of the money I do send to my cousin thinking he's doing fraud because he's receiving in dollar, sadly he's not sure about other methods of receiving money, before it'll disappear in thin air smh |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by kolafolabi(m): 7:52pm On Apr 29, 2019 |
CBN is a toothless dog that barks for nothing 2 Likes |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Oluwasaeon(m): 7:52pm On Apr 29, 2019 |
And they just debited me now! Can't wait to change alert type to email. I'm done! |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by Elchappo: 7:52pm On Apr 29, 2019 |
I am quite aware they did not take NPF Microfinance Bank into cognizance while providing this data because those guyz ve earned much more than 10billion naira in their every week account maintenance fee. |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by omokiri5(m): 7:53pm On Apr 29, 2019 |
Scam of the century |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by ishawlar: 7:53pm On Apr 29, 2019 |
Number one na GTB. The bank sabi commot person money. Chai 8 Likes |
Re: 5 Banks Earn N15.7bn On Account Maintenance Charges In Q1 2019 by enitey(f): 7:53pm On Apr 29, 2019 |
Banks� |
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