Mid-tier Nigerian banks outperformed the broader sector in the first half of 2026, with FCMB Group, Wema Bank, and Sterling Financial Holdings posting double-digit profit growth. Combined after-tax profit for these four banks, including Ecobank Transnational Incorporated, rose 14.7 percent to 730.2 billion naira. FCMB led the growth with a 90.5 percent profit surge, while Wema Bank grew by 50 percent and Sterling by 20.6 percent. Conversely, Ecobank Transnational Incorporated saw a 5.8 percent profit decline, driven by pressure on non-interest income and higher impairment charges. Analysts note a widening performance gap in the sector, where smaller lenders are successfully leveraging balance sheet expansion, while regional players struggle with earnings volatility.