Top 10 Richest Banks in Nigeria 2022 And Their Worth

Top 10 Richest Banks in Nigeria 2022 And Their Worth

In Nigeria, there are over 20 commercial banks; these banks have millions of customers and make a lot of money over time. Here are Nigeria’s top ten richest banks, which have survived recessions and business setbacks. Several mergers and corporate restructuring occurred in the industry between 2014 and 2021.

However, Nigeria has a large number of banks. There will undoubtedly be competition among these various banks, causing some to generate money at a faster rate than others.

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Regardless of the facts, these banks provide the same services; yet, some customers prefer one bank over the other for a variety of reasons, including customer care, client approach, and more.

The following list is based on corporate total assets reports from 2019 and 2020.

Top 10 Richest Banks in Nigeria 2022 And Their Worth

1. Access Bank $18 billion
2. Zenith Bank $16 billion
3. First Bank 7.02 trillion naira
4. UBA $15.46 billion
5. GTB 3.16 trillion naira
6. Stanbic IBTC 2.48 Trillion naira
7. Fidelity Bank $10 billion
8. Eco Bank $8.1 billion
9. Union Bank $4.2billion
10. FCMB $4.4 billion

1. Access Bank

Over the last 26 years, Access Bank Plc has developed from obscurity to become a world-class African financial institution.

They have risen to become one of Nigeria’s top five banks in terms of assets, loans, deposits, and branch network, a feat achieved via a long-term dedication to client solutions – providing dedicated and imaginative counsel.

Access bank has total assets of US$18 billion

2. Zenith Bank

Zenith Bank began as a tiny business in the country and has since developed into a well-known, full-service bank.

Zenith Bank is one of the banks in Nigeria that has risen in prominence and acquired good recognition in the country as a result of their commitment to service and putting the needs of their customers first.

Jim Ovia launched the business in 1990. The creation of this financing company was spearheaded by Jim Ovia, and the current CEO is Ebenezer Onyeagwu.

Zenith Bank was the first finance business to embrace internet banking in the early 2000s, giving them a competitive advantage over other banks.

Zenith Bank is now Nigeria’s second richest bank, with total assets of $16 billion.

3. First Bank

As the name implies, everybody could tell you a little about this bank, and no Nigerian would deny that they are familiar with it. The First Bank of Nigeria is the country’s oldest bank, having served the country since the early twentieth century.

With total assets of 7.02 trillion nairas, First Bank ranks third among the country’s richest banks. Furthermore, First Bank is not only present in Nigeria; it has branches in Ghana, the United Kingdom, Sierra Leone, and other countries.

4. United Bank Of Africa (UBA)

Tony Onyemeachi Elumelu, who was born on March 22, 1963, is the owner of the United Bank of Africa. The company’s creator is a well-known philanthropist.

The bank has become well-known across Africa, and many individuals have continued to benefit from the bank’s extensive banking services. With total assets of $15.46 billion, the bank is Nigeria’s fourth-richest bank.

The bank has branches all around the country, as well as in various parts of Europe, such as the United Kingdom.

5. Guaranty Trust Bank

Guaranty Trust Bank plc was established in 1990 as a limited liability company with the authority to provide commercial and other banking services to Nigerians. The bank has grown from its humble beginnings in February 1991 to become one of Nigeria’s most respected and service-oriented institutions.

The bank’s headquarters are located on Victoria Island in Lagos, and it is Nigeria’s fifth-richest bank, with total assets of 3.16 trillion nairas.

6. Stanbic IBTC

This bank has been operating in Nigeria for over 30 years, providing excellent banking services to Nigerians. This bank has millions of customers in Nigeria and offers a variety of services to them.

The bank has various locations throughout the country, and, like other banks, it provides a variety of baking services to meet the demands of its customers. With total assets of 1.42 trillion naira, the bank is Nigeria’s sixth richest bank.

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7. Fidelity Bank

The Nigerian central bank has approved this bank as a commercial bank. It was founded in 1988, and its headquarters are located in Lagos, Nigeria.

Despite the fact that this bank was only in the country for a short time, they were able to establish a good business and gain respect from other banking institutions. This bank has total assets of $10.2bn

8. Eco Bank

Many Nigerians who are looking for a reliable bank have chosen Eco Bank Nigeria. The bank was established in 1989 and is headquartered in Lagos, Nigeria. It provides a variety of financial services. With $8.1 billion in assets.

9. Union Bank

In 1914, the Union Bank of Nigeria began operations in Nigeria. They have been servicing their customers’ interests for decades and always offer a positive customer experience. With $4.2 billion in assets.

10. First City Monument Bank (FCMB)

The ten richest banks in Nigeria come to a close with the last bank on the list. FCMB was established on April 20, 1982. The bank is active not only in Nigeria but also in the United Kingdom. FCMB has a total asset of $4.4 billion.

Source: Flippstack.com