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Access Bank’s digital lending revenue has increased from N1 billion in the first half of 2019 to N5 billion in the first half of 2021, indicative of a growing appetite and increased adoption of digital lending.

The transaction value grew from N17 billion in 2019 H1 to N68 billion in 2021 H1, indicative of a 99% increase in the value of loans issued by Access bank to her customers.

Nigeria has seen a significant increase in electronic-driven banking due to rising mobile phone usage and viral social media, which has resulted in colossal data consumption and expenditure across many channels.

The banking industry is also benefiting greatly from the surge in mobile phone use, with easy-to-use banking applications that are safe and function similarly to social networking apps.

As a result of its merger with Diamond Bank, Access Bank has positioned itself to benefit from digital gains. Diamond Bank was a leading tech-focused commercial bank, a significant draw for Access Bank when deciding on the merger.

The bank’s deposits had increased to N7.7 trillion, up from around N3.5 trillion when the merger was initially announced in 2018. The revenue base is perhaps the most critical driver of its e-business Income development.

Key findings

  • USSD transactions saw an uptick of 62% in H1 2021 with N1,155 billion as compared to the N713 billion in H1 2020.
  • Mobile & internet transaction value increased by 67% from N9,822 billion in H1 2020 to N16,390 billion in H1 2021.
  • ATM transaction value increased by 26% to N1,044 billion H1 2021 from H1 2020, N829 billion.
  • POS transaction value decreased by 17 % to N301 billion H1 2021 from H1 2020, N362 billion.


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