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Top 20 Banks In Nigeria

 

The banking industry is one of the biggest and most successful in Nigeria. If you’re reading this, I’m guessing you have an account with a bank in Nigeria but don’t really know much about the banks. Well, this article will give you some insight into the performance of banks in Nigeria  over the years and some interesting facts about them.

You always hear about big financial deals regarding banks, and you may even know where all these money come from or goes but, have you ever wondered which banks are the richest or the biggest based on their assets in Nigeria? Well, below are the biggest banks based primarily on their market capitalization (There are only 13 banks listed on the Nigerian Stock Exchange) and their asset.

S/N

BANKS

MARKET CAPITALIZATION

TOTAL ASSET 30/06/2022

1                        

Zenith Bank                             

N679.7 Billion                                          

N8.68 Trillion (2nd)

Guaranty Trust Bank GTC   

N614.9 Billion                                             

N4.99 Trillion (5th)

Stanbic IBTC

N421.1 Billion

N2.49 Trillion (8th)

First Bank Nigeria

N378.7 Billion

N7.84 Trillion (4th)

5

Access Corporation

N328.4 Billion

N9.05 Trillion (1st)

6

United Bank for Africa

N254.8 Billion

N7.89 Trillion (3rd)

7

Union Bank Nigeria                      

N176.6 Billion

N2.16 Trillion 10th)

8

Fidelity Bank

N98.2 Billion                                              

N2.89 Trillion (6th)

9

First City Monument Bank

N65.3 Billion

N2.0 Trillion (11th)

10

Sterling Bank

N44.0 Billion

N2.49 Trillion (8th)

11

Wema Bank                   

N40.5 Billion                                              

N1.1 Trillion(13th)

12

Jaiz Bank

N33.2 Billion

N278 Billion (16th)

13

Unity Bank

N5.3 Billion

N538.87 Billion(15th)

14

Ecobank

 

N2.6 Trillion(7th)

15

Globus Bank

 

N260.1 BillioN (17th)

16

Polaris Bank

 

N1.18 Trillion     (12th)

17

Providus Bank

 

N543 Billion.      (14th)

18

Titan Trust Bank

 

N246 Billion.      (18th)

19

SunTrust Bank Nigeria

 

N54.7 Billion      (20th)

20

Kuda Microfinance Bank

 

N205.6 Billion    (19th)

 

LIST OF COMMERCIAL BANKS IN NIGERIA AND THEIR HEAD OFFICE ADDRESS

Another question that may but you mind is what are the banks in Nigeria? Well, let’s streamline that question for you and make it, what are the commercial banks in Nigeria. This question is apt because not all banks in Nigeria operate to make profit. Some exist to just help citizens get on their feet or assist in one way or another without a primary motive to make money. So, which of them exist with an aim to make profits? Well, there are 24 commercial banks in Nigeria and here they are:

S/N

BANKS

HEAD OFFICE ADDRESS

1                        

Zenith Bank                             

Plot 84, Ajose Adeogun Street, Victoria Island, Lagos

Guaranty Trust Bank GTC   

635, Akin Adesola Street, Victoria Island, Lagos

Stanbic IBTC

I.B.T.C. Place, Walter Carrington Crescent, Victoria Island Lagos

First Bank Nigeria

Samuel Asabia House, 35 Marina, Lagos

5

Access Bank

14/15, Prince Alaba Abiodun, Oniru Road,Victoria Island Nigeria

6

United Bank for Africa

57 Marina, Lagos Island, Lagos, Nigeria

7

Union Bank Nigeria                      

36 Marina, Lagos Island, Lagos, Lagos State, Nigeria

8

Fidelity Bank

2, Kofo Abayomi Street, Victoria Island, Lagos

9

First City Monument Bank

Primose Towers, 17a, Tinubu Street, Lagos

10

Sterling Bank

Sterling Towers, 20 Marina, Lagos

11

Parallex Bank Ltd

Plot 1261, Adeola Hopewell Street, V.I, Lagos

12

Citibank Nigeria Limited

27 Kofo Abayomi Street, Victoria Island Lagos

13

Ecobank Nigeria Plc

21, Ahmadu Bello Way, Victoria Island, Lagos

14

Heritage Banking Company Ltd

292b, Ajose Adeogun Street, Victoria Island, Lagos

15

Globus Bank Limited

6, Adeyemo Alakija Street, Victoria Island, Lagos

16

Polaris Bank Plc

Keystone House, 1, Keystone Crescent, Victoria Island, Lagos

17

Unity Bank Plc

Plot 42, Ahmed Onibudo Street, Victoria Island, Lagos

18

Standard Chartered Bank Nigeria Ltd

142, Ahmadu Bello Way, Victoria Island, Lagos

19

Premium Trust Bank

Plot 1612, Adeola Hopewell Street, Victoria Island, Lagos

20

Wema Bank Plc

Wema Towers, 54 Marina, Lagos Island, Lagos

21

Providus Bank

724 Adetokunbo Ademola Street, Victoria Island, Lagos, Lagos State

22

SunTrust Bank Nigeria Limited

Plot 1680, Sanusi Fafunwa Street, Victoria Island Lagos

 

 

 

 

Although I have outlined all the commercial banks in Nigeria, not all of them have the same categorization as to areas of operation. While some have regional license, some have national and others international license. The following tables will have them listed out based on their license areas

BANKS WITH REGIONAL LICENCE

  • Globus Bank Limited
  • Parallex Bank Limited
  • Premium trust Bank
  • Sun Trust bank Nigeria Limited
  • Providus Bank

 

BANKS WITH NATIONAL LICENSE

  • Citibank Nigeria Limited
  • Ecobank Nigeria Plc
  • First Bank Nigeria Ltd
  • Heritage Banking Company Ltd
  • Keystone Bank Limited
  • Polaris Bank Plc
  • Stanbic IBTC Bank Plc
  • Sterling Bank Plc
  • Titan Trust Bank Ltd
  • Unity Bank Plc
  • Wema Bank Plc

 

 

 

Banks with international License.

  • Guaranty Trust Bank
  • Zenith Bank
  • Union Bank

 

NON-INTEREST BANKS IN NIGERIA

As we have already mentioned before, not all banks exist for the purpose of making profit. Some of them exist to provide services and help individuals/businesses to thrive. These banks are otherwise known as “Non-interest banks” meaning that they do not take interest on loans given. These banks are:

  • Jaiz Bank Plc
  • Lotus Bank Ltd
  • TAJ Bank Ltd
  • Sterling bank Alternative Finance

There you have it, some information about Banks in Nigeria. You could check the CBN website for further information about financial institutions in Nigeria. www.cbn.gov.ng/

 

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