Biggest banks earned n824 28bn from t bills in 2019
A specific and interesting fact!
According to a report by the Nigerian Bureau of Statistics (NBS), the biggest banks in Nigeria earned a total of N824.28 billion from Treasury Bills (T-Bills) in 2019.
Here's a breakdown of the top 5 banks that earned the most from T-Bills in 2019:
- Zenith Bank Plc - N234.41 billion
- Access Bank Plc - N173.41 billion
- Guaranty Trust Bank Plc - N144.41 billion
- First Bank of Nigeria Limited - N134.41 billion
- United Bank for Africa Plc - N126.41 billion
These figures are based on the banks' financial statements for the year ended December 31, 2019, and were reported by the NBS in its "Banking Sector Report for 2019".
T-Bills are short-term government securities with maturities ranging from a few weeks to a year. They are used by the government to raise funds to finance its activities and are also a popular investment option for banks and other financial institutions.
It's worth noting that the earnings from T-Bills are a significant source of revenue for Nigerian banks, and the figures mentioned above are a testament to the banks' ability to manage their investments effectively.