Top 10 banks in Nigeria by assets – The banking sector in Nigeria includes declining revenue every year, trillions of dollars, and keeping customers happy. Many Nigerian banks have expanded from local license holders to international permits, allowing them to be established in different countries.
It shows how well the sector has performed. Today, Nigerian banks have had varying successes due to a number of factors. In terms of prosperity, age is one of the lowest factors because the oldest does not always mean the richest. This is a list of the top 10 banks in Nigeria by assets.
According to its wealth, Nigeria has the top 10 banks:
Zenith Bank Nigeria:
If you follow the news or the stock market, you must have heard Zenith Banks singing praises. The bank is number one in terms of assets and capital. They provide a wide range of services including Forex, Treasury, SME Banking, Corporate, and Investment Banking. They are currently listed on the stock market and have a network of over 500 branches in and outside Nigeria. At the time of writing, Zenith Bank has total assets of N8 trillion.
The recent acquisition of Diamond Bank by Access Bank demonstrates its strength in the Nigerian banking economy. This bank has become stronger, and some may match its position today. This is especially true when we consider the fact that he acquired Intercontinental Bank many years ago. He currently has an asset base of N7.93 trillion.
First Bank of Nigeria Plc:
The first bank is one of the largest and oldest banks in Nigeria. They operate prominently through the following strategic business units; Commercial, Public Sector, Retail, and Corporate Banking. The bank has overseas branches, including Abu Dhabi and Beijing, and employs more than 7,000 people. Nigeria’s first bank currently has assets of N7.1 trillion.
United Bank of Africa (UBA):
Known as UBA, they have over 10 million Nigerian customers and a very trusted organization with the bank. In addition, UBA offers customers great digital banking and a great experience for great services. As of last fiscal, he had total assets of N6.8 trillion.
Guarantee Trust Bank (GTBank):
This is better than the bank argument when it comes to customer relationships and services. They have the reputation of being the best and therefore providing security by many citizens every day. Most recently, GTBank announced total assets of N4.06 trillion for the first quarter of 2020, back in April.
Ecobank offers a variety of services including retail, corporate, wholesale, and transactions. These are the only transactions inc. Is a subsidiary of and operates through wholesale, retail banking, and treasury. In addition, there are currently more than 600 branches in Nigeria alone, with overseas branches in other countries.
Founded in 1917, Union Bank is one of the oldest and best financial institutions in Nigeria. In addition, they are one of the richest banks in the country and cater to the needs of small, medium and large companies. He currently has assets worth Rs 2.24 trillion.
Nishta Bank is one of the top institutions in the country with over 2.5 million customers. They are especially popular among SME owners who are women. In addition, the bank was licensed and established in 1988, with a total asset value of N2.4 trillion.
The recently sold Polaris Bank is one of the largest companies in Nigeria, resulting in millions of customers. The bank is listed on the Nigerian Stock Exchange, and has branches abroad, including Angola, Liberia, and Sierra Leone. He currently has total assets of N1.14 trillion as of April 2020.
However, a new generation bank, Keystone has been thriving over the years in very good competition. In addition, he acquired the bank PHB several years ago, which further increased the value of his assets. The bank provides services to individuals, SMEs, public institutions, and large corporations.
These are the top 10 banks in Nigeria by wealth. These banks, along with a few others, hold the lion’s share of the banking industry in the country. Interestingly, the nature of the industry is such that it always seems to grow. Therefore, in the very distant future, we may not see the rise of more megabanks in the nation.