Kuda Bank Processes N14.3 Trillion in Q1 2025, Sees Surge in Business, Retail Transactions

Nigeria’s leading digital bank, Kuda Technologies, has announced a major milestone in its operational performance, processing ₦14.3 trillion worth of transactions across over 300 million transactions in the first quarter of 2025 alone.

The figures, unveiled by Kuda’s Chief Executive Officer, Babs Ogundeyi, during a media parley held in Lagos on Monday, highlight the growing confidence and adoption of digital banking solutions in Nigeria’s rapidly evolving fintech space.

Breaking down the performance, Ogundeyi disclosed that ₦8.5 trillion came from Kuda’s retail banking segment, while ₦5.8 trillion was processed through its business banking platform.

“We are seeing consistent momentum across both personal and business users, and these numbers are a strong indicator of how much trust Nigerians are placing in digital financial solutions,” Ogundeyi said.

The bank revealed that fund transfers remain the most dominant form of transaction, with business banking transfers alone accounting for ₦1.5 trillion of the total figure.

Interestingly, Kuda noted a shift in user behavior, as paid transfers now outnumber free ones, suggesting that users are increasingly prioritizing speed and reliability over cost.

“People are willing to pay for efficiency. The convenience we offer has translated into more users choosing paid services when urgency matters, and this is helping us build a more sustainable ecosystem,” the CEO added.

Although no comparative figures were provided from previous quarters, the company emphasized that the trend has been upward, with steady growth in both the volume and value of transactions since the start of the year.

Founded in 2019, Kuda has positioned itself as a pioneer of app-based banking in Nigeria, offering zero to low fees on transfers, free debit cards, budgeting tools, and seamless user interfaces for individuals and SMEs.

The Q1 2025 figures reaffirm its standing as one of the country’s most impactful digital banking platforms.

Analysts say the results place Kuda firmly among the top-tier players driving Nigeria’s cashless economy and digital financial inclusion, especially in a landscape where agility, trust, and user experience are increasingly shaping consumer preferences.

With these figures, Kuda appears well-positioned to scale further in subsequent quarters, potentially expanding into more segments and markets within Africa and beyond.

Nigeria’s leading digital bank, Kuda Technologies, has announced a major milestone in its operational performance, processing ₦14.3 trillion worth of transactions across over 300 million transactions in the first quarter of 2025 alone.

The figures, unveiled by Kuda’s Chief Executive Officer, Babs Ogundeyi, during a media parley held in Lagos on Monday, highlight the growing confidence and adoption of digital banking solutions in Nigeria’s rapidly evolving fintech space.

Breaking down the performance, Ogundeyi disclosed that ₦8.5 trillion came from Kuda’s retail banking segment, while ₦5.8 trillion was processed through its business banking platform.

“We are seeing consistent momentum across both personal and business users, and these numbers are a strong indicator of how much trust Nigerians are placing in digital financial solutions,” Ogundeyi said.

The bank revealed that fund transfers remain the most dominant form of transaction, with business banking transfers alone accounting for ₦1.5 trillion of the total figure.

Interestingly, Kuda noted a shift in user behavior, as paid transfers now outnumber free ones, suggesting that users are increasingly prioritizing speed and reliability over cost.

“People are willing to pay for efficiency. The convenience we offer has translated into more users choosing paid services when urgency matters, and this is helping us build a more sustainable ecosystem,” the CEO added.

Although no comparative figures were provided from previous quarters, the company emphasized that the trend has been upward, with steady growth in both the volume and value of transactions since the start of the year.

Founded in 2019, Kuda has positioned itself as a pioneer of app-based banking in Nigeria, offering zero to low fees on transfers, free debit cards, budgeting tools, and seamless user interfaces for individuals and SMEs.

The Q1 2025 figures reaffirm its standing as one of the country’s most impactful digital banking platforms.

Analysts say the results place Kuda firmly among the top-tier players driving Nigeria’s cashless economy and digital financial inclusion, especially in a landscape where agility, trust, and user experience are increasingly shaping consumer preferences.

With these figures, Kuda appears well-positioned to scale further in subsequent quarters, potentially expanding into more segments and markets within Africa and beyond.