GTCO Financial Results
Digital Banking Performance (Mobile and Internet Banking)
"
The increase in transactions
on the internet and mobile
banking platforms was
buoyed by the introduction of
a Telco charge of N6.98 per
successful USSD transaction
which resulted in increased
adoption of other electronic
banking platforms.
The 68% year-on-year growth
in Mobile banking volumes
resulted in a N10.38 trillion
growth from N15.21 trillion in FY
2020 to N25.59 trillion in FY
2021.
Mobile Banking (Value in Trillions of Naira)
Mobile Banking (Volume in Millions)
2.5
28
2.3
2.4
2.2
2.0
2.0
2.0
2.0
2.0
1.8
1.7
1.6
1.7
1.6
1.5
1.5
1.5
1.2
1.0
1.0
1.0
0.9
47.4
37.5
38.9
40.0
41.8
34.7
30.3
31.4
32.7
29.6
25.8
24.0
25.
22.
18.9
19.1
19.
20.
20.
14.5
16.
16.8
14.
13.
Jan
Feb
Mar Apr May Jun
Jul
■2020
Aug Sep Oct
■2021
Nov Dec
Jan
Feb
Mar
Apr May Jun
Jul Aug Sep Oct
Nov Dec
■2020
■2021
Total Value in FY 2021: N25.59 trillion
Total Value in FY 2020: N15.21 trillion
% Growth (y-o-y): 68.2%
Internet Banking (Value in Billions of Naira)
Similarly, the volume of
internet banking transactions
grew by 1.8% in FY 2021 from
10.9 million to 11.1 million. An
8.7% growth in value also
translated to an increase of
N221.5 million to N2,559.3
billion in FY 2021
238.0
230.4
236 203.3 216.3
Total Volume in FY 2021: 414.2 million
Total Volume in FY 2020: 222.7 million
% Growth (y-o-y): 86%
Internet Banking (Volume in Millions)
252.9 256.9
230.7
220.4
241.0229.7
220
220.8
222.0
238.4 240.5 249.8
240 Z
219.0
1.09.
185. 195.
206.
1.04
190.4
0.99
1.00
0.96
0.95
0.94
151.
0.89
0.90
0.87
0.91
0.91 0.93
0.87
0.91
0.86 0.82
0.94
0.93
1.02
0.87
0.72
0.65
Jan Feb
Mar
Apr May Jun Jul Aug Sep Oct
2020 2021
Nov
Dec
Jan
Feb
Mar
Apr May Jun Jul Aug
Sep
Oct Nov
Dec
Total Value in FY 2021: N2,779.3 billion
Total Value in FY 2020: N2,557.8 billion
% Growth (y-o-y): 8.7%
2020 2021
Total Volume in FY 2021 : 11.1 million
Total Volume in FY 2020: 10.9 million
% Growth (y-o-y): 1.8%
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