United Bank for Africa, Guaranty Trust Bank and Zenith Bank Plc in the half-year of 2019 generated the total sum of N77.57bn via Automated Teller Machines’ N65 charges on remote-on-us transactions, online transfer, Unstructured Supplementary Service Data, and Points of Sales Terminal transactions.
The electronic-banking products charges raked by the three lenders were, however, higher than the N26.49bn realised in the corresponding period of 2018.
The breakdown of the lenders H1 report showed that Zenith bank and its subsidiaries reported N27.08bn E-banking income in H1 2019 as against N10.08bn generated in H1 2018, an increase of 168.69 per cent.
The bank in the period under review recorded a growth in both value and volume of electronic product transactions.
Further breakdown indicated that Zenith Bank recorded N300bn transactions on its USSD transactions in H1 2019 as against N201bn generated in H1 2018. The lender also reported N4.79tn value of transactions on its Internet bank in H1 2019 as against N2.9tn in H1 2018.
In addition, Zenith Bank reported N3.67tn on its “Zenith Mobile” in H1 2019 compared with N2tn in H1 2018.
UBA reported N16.86bn generated on e-banking in H1 2019 from N12 – N15bn reported in H1 2018, an increase of 38.8 per cent, while GTBank reported an increase of 67.1 per cent to N7.13bn generated on its e-banking platform in H1 2019 from N4.27bn reported in H1 2018.
GTBank reported a total value of N1.74tn transactions on its USSD, an increase of 41 per cent from N1.23tn reported in prior H1 2018.
The H1 2019 revealed that a N235.59bn USSD transactions were recorded in January; N245.95 bn in February; N306.83bn in March; N323.95bn in April; N327.09bn in May and N297.95bn in June.
According to the GTBank report, the bank recorded a total volume of 265.1 million USSD transactions in H1 2019, an increase of 35.5 per cent from 195.9 million reported in H1 2018.
The bank in its “digital banking and USSD performance” report stated that the total number of USSD unique users grew by 20 per cent to 5.5 million in June 2019 from 4.6 million in December 2018.
The bank further stated that the total number of active users on the USSD platform also increased by one million users from 3.7 million in December 2018 to 4.7 million in Jun. 2019.
Mobile banking showed N3.95tn total value of transactions in H1, an increase of 55 per cent from N2.57tn in H1 2018, while its volume grew by 62 per cent to 61.7 million in H1 2019 from 38.2 million reported in H1 2018.
Meanwhile, finance experts have said that the increasing number of bank customers and Information Technology innovation in the banking sector played a critical role in e-banking income generated by commercial banks operating in the country.