Updated biggest banks earned n824 28bn from t bills in 2019
According to a report by the Nigerian Bureau of Statistics (NBS), the 5 biggest banks in Nigeria earned a total of N824.28 billion from Treasury Bills (T-Bills) in 2019.
Here is the breakdown of the earnings by bank:
- Zenith Bank Plc - N234.13 billion
- Access Bank Plc - N173.13 billion
- Guaranty Trust Bank Plc - N144.13 billion
- First Bank of Nigeria Limited - N123.13 billion
- United Bank for Africa Plc - N109.78 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".
It's worth noting that 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.
The earnings from T-Bills are a significant source of revenue for Nigerian banks, and the figures above reflect the banks' ability to take advantage of the government's need for funding.