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2 clusters · 6 sources · 17 days · First seen · Last updated

West African banking sector financial growth

Overview

Financial reports from mid-2026 indicate growth across several West African banking sectors. In Nigeria, five Tier 2 lenders—including FCMB Group, Wema Bank, Sterling Financial Holdings, Jaiz Bank, and Infinity Trust Mortgage Bank—reported combined total assets of N20.47tn and combined profit after tax of N338.4bn. FCMB Group and Wema Bank were the primary drivers of these profits, with Wema Bank reporting a 50.1 percent increase in profit after tax compared to the previous year.

In the broader West African region, Oragroup and Coris Bank International also reported positive performance metrics. Oragroup saw a 1 percent year-on-year increase in net profit to 18.5 billion FCFA, supported by a 10 percent increase in customer deposits. Coris Bank International reported a significant 48.6 percent increase in cumulative net profit for 2025, reaching 113.96 billion FCFA, with Burkina Faso serving as its primary market.

Entities

FCMB Group · Coris Bank International · Burkina Faso · Sterling Financial Holdings · Jaiz Bank

Timeline

  1. [BUSINESS] 2 sources
    Oragroup and Coris Bank report growth in West African banking sector

    West African banks Oragroup and Coris Bank International report growth, with Coris Bank seeing a 48.6% profit surge in 2025 and Oragroup noting a rising balance sheet in early 2026.

  2. [BUSINESS] 4 sources
    Nigerian mid-sized banks report surge in assets and profits

    Mid-sized Nigerian banks, including FCMB Group and Wema Bank, reported combined assets of N20.47tn and N338.4bn in profit for H1 2026, alongside significant growth from AG Mortgage Bank.

Sources

businessday.ng · ecofinagency.com · financialafrik.com · leconomistedutogo.tg · punchng.com · thisdaylive.com