United {Bank} for Africa (UBA) generated a complete of N284.7 billion from digital enterprise transactions in full-year 2024.
Digital transaction charges embody earnings from ATM withdrawals, card transactions, on-line and cellular banking providers, interbank transfers, SMS/e-mail alerts, and service provider funds.
This represents an 85.9% development in its e-transaction income compared with the N157.1 billion recorded by the {bank} in 2023.
The figures had been disclosed within the {bank}’s audited {financial} assertion for the yr ended December 31, 2024.
The {bank}’s digital transaction bills amounted to N199.2 billion in 2024, up from N107.1 billion in 2023.
United {Bank} for Africa recorded a 158% surge in remittance charge revenue in 2024.
A remittance charge is a cost banks apply for processing cross-border cash transfers, reminiscent of when Nigerians overseas ship cash house or companies transfer funds internationally.
The highest-tier lender generated N39.91 billion in remittance charges, a pointy rise from N15.45 billion in 2023.
Compared, Zenith Bank recorded N13.48 billion in overseas forex transaction charges in 2024, based on Nairametrics report.
UBA reported a pre-tax revenue of N803.7 billion in 2024, marking a 6% enhance from N757.6 billion in 2023.
Curiosity bills almost tripled, rising by 128.18% year-on-year to N839.2 billion resulting from increased funding prices.
