Top 10 Richest Banks In Nigeria

Last updated on January 15th, 2024 at 10:02 am

Nigeria, an African country in the Gulf of Guinea, has several Banks. These banks are best known for their reliability and customer service. Are you wondering what are the top 10 richest Banks in Nigeria? All of the banks mentioned on this list have a strong presence in Nigeria.

1. First Bank of Nigeria

First Bank of Nigeria, a Nigerian multinational bank and financial services company in Lagos, is the richest bank in Nigeria. The bank has 16,000 employees. First Bank’s net worth is around 22 billion, as of March 2023.

2. Access Bank

Access Bank is a Nigerian multinational commercial bank. Access Bank is owned by Access Bank Group and licensed by the Central Bank of Nigeria. It has a total asset worth 20 billion and 28,121 employees.

3. Zenith Bank

Zenith Bank is licensed as a commercial bank by the Central Bank of Nigeria. Zenith Bank is one of the richest banks in Nigeria. It provides great customer service. The bank’s shareholders’ equity is $854 million. It has a total asset worth 20 billion.

4. United Bank For Africa

United Bank For Africa is located in Lagos. It is best known as Africa’s Global Bank. It has a total asset worth 19 billion. The bank is operated in 20 African countries. It has more than 10 million customers and over 18,000 employees.

5. Guaranty Trust Bank (Gtbank)

Guaranty Trust Bank (Gtbank) is located in Victoria Island, Lagos, Nigeria. It offers investment banking, pension management, asset management and payments services. Gtbank is one of the richest banks in Nigeria. It has over 9 million customers. The annual profit of the bank is over $500 million.

6. Stanbic IBTC Bank

Stanbic IBTC Bank is a commercial banking company in Nigeria. The annual profit of the bank is around $500 million. It offers a wide range of products and services to people in Nigeria. The bank is a subsidiary of Standard Bank Group.

7. Eco Bank

Eco Bank, commonly referred to as Ecobank Nigeria, is one of the richest banks in the country. It is located in Lagos, Lagos State, Nigeria. The annual profit of the bank is around $400 million. The bank employs over 14,000 employees.

8. FBN Holdings

FBN Holdings is one of the largest banking and financial services companies in Africa. It is the third-largest bank in Nigeria. The annual profit of the bank is around $400 million. It has 8,220 employees, serving more than 2.5 million customers.

9. Union Bank of Nigeria Plc

Union Bank of Nigeria Plc has been operating in the country since 1917. It is among the richest banks and best banks in the country. The annual profit of the Union Bank of Nigeria Plc is around $400 million. It employs over 2,200 people.

10. Sterling Bank

Sterling Bank is a full-service national commercial bank in the country. The annual profit of the Sterling Bank is nearly $390 million. It is located in Lagos, Lagos State, Nigeria. It is the ninth biggest bank in Nigeria based on assets.