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) |
|
2 |
Guaranty Trust Bank GTC |
N614.9 Billion |
N4.99 Trillion (5th) |
|
3 |
Stanbic IBTC |
N421.1 Billion |
N2.49 Trillion (8th) |
|
4 |
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 |
|
2 |
Guaranty Trust Bank GTC |
635, Akin Adesola Street, Victoria Island, Lagos |
|
3 |
Stanbic IBTC |
I.B.T.C. Place, Walter Carrington Crescent, Victoria Island Lagos |
|
4 |
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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