Zest Fintech Posts First Profit as Stanbic Subsidiary Turns the Corner

LAGOS, Nigeria – Zest, the fintech arm of Stanbic IBTC Holdings, has recorded a Zest fintech profit of N543 million ($372,438) after tax in the third quarter of 2025. This marks the company’s first profitable period since its 2023 launch, flipping a N1.89 billion ($1.29 million) loss from the same quarter last year.

The figures come from Stanbic IBTC’s financial statements for the period ending September 30, 2025. Despite operating costs rising to N2.12 billion ($1.45 million)—up from N1.26 billion ($864,221) in the first half—revenue growth drove the shift. In H1 2025 alone, Zest slashed losses by 58.8 per cent to N389 million ($266,811), with income leaping fourteenfold to N874 million ($599,467).

Insiders say monthly profits kicked in mid-year, thanks to parent funding that swelled 85.8 per cent to N4.33 billion ($2.97 million) by June. Zest offers businesses a unified dashboard for cards, transfers, mobile money, and QR payments—tools that have caught on in Nigeria’s N104 trillion digital transaction wave.

Bank-Backed Fintechs Find Their Footing

Zest’s Zest fintech profit joins a wave of successes among bank-led ventures, sparked by the Central Bank of Nigeria’s 2010 holding company rules. Access Bank’s Hydrogen posted N966 million ($662,569) in H1 profits, while GTCO’s HabariPay hit N4.02 billion ($2.76 million).

These arms blend traditional banking with agile tech, targeting the 36 per cent of Nigerians still unbanked. Zest fintech profit shows how they’re maturing, from startup burns to steady gains, amid a gig economy eyeing $65 billion by 2025.

Stanbic IBTC, with N9 trillion in assets, sees fintech as its digital edge. As costs stabilize and users grow, Zest’s path could inspire more hybrids—making finance faster and fairer for everyday Nigerians.