Nigerian banks are more than just colossal symbols of economic strength and stability. They are more than just financial institutions; they are part of millions of people’s daily lives, enabling dreams and empowering both enterprises and individuals.
As we approach 2024, Nigeria’s banking system remains a beacon of growth and resilience, with a combined asset worth of N150 trillion across 26 commercial banks.
The size of a bank frequently reflects its ability to meet a broader range of demands, from basic savings accounts to complex corporate services. With this in mind, determining which banks lead the pack in terms of size can provide useful insights into their ability to meet different client needs.
Here’s a heartfelt look at Nigeria’s top ten largest banks, providing insight into their foundations, services, and the people they serve.
1. Access Bank – N32.57 trillion
Leading the pace is Access Bank, an institution marked not only by its vast assets of N32.57 trillion, but also by its tremendous impact on its clients’ lives.
With 737 locations, 554 of which are in Nigeria alone, Access Bank is a real giant, offering powerful financial services and a personal touch that makes each customer feel individually cherished.
This bank goes beyond transactions to improve lives, stressing its role as a community pillar in Nigeria and throughout Africa.
2. United Bank for Africa – N25.37 trillion
The United Bank for Africa (UBA) distinguishes out with a remarkable asset base of N25.37 trillion. With over 1000 touchpoints worldwide, UBA is more than just a financial organization; it is a cultural icon that connects Nigerian values to global financial standards.
With 451 locations across Nigeria, UBA is renowned for its dedication to quality and deep relationships to the communities it serves, making every banking experience a personal journey of achievement.
3. Zenith Bank – N24.28 trillion
Zenith Bank, with N24.28 trillion in assets, is a tribute to Nigeria’s entrepreneurial drive and tenacity. Zenith operates 447 branches, 397 of which are in Nigeria, and is at the forefront of financial innovation.
The bank’s commitment to providing great service is evident in its huge customer base of over 33 million individuals, all of whom rely on Zenith to help them through their financial journeys with competence and empathy.
4. First Bank – N16.90 trillion
First Bank of Nigeria, which has N16.9 trillion in assets, maintains 595 branches around the country.
First Bank is known as the bank with the most branches and serves over 41 million customers. It is a symbol of stability and trust that is strongly ingrained in Nigerian society.
5. Ecobank – N10.37 trillion
Ecobank, which manages a large network with assets totaling N10.37 trillion, exemplifies the ethos of pan-African banking.
Ecobank’s extensive network of 273 branches and 541 ATMs across Nigeria ensures that it acts as a gateway to financial services for millions of people, providing a seamless banking experience that stresses accessibility and client happiness.
6. GTBank – N8.79 trillion.
GTBank, with an asset base of N8.79 trillion, is redefining modern banking with its innovative offerings and customer-centric strategy.
GTBank serves approximately 10 million customers in Nigeria across 270 locations, including 237 branches and 33 eBranches. Customers appreciate the bank’s commitment to providing efficient and entertaining banking services.
7. Fidelity Bank – N6.23 trillion
Fidelity Bank, with N6.23 trillion in assets and 249 locations, represents confidence and honesty in Nigeria’s banking system.
Fidelity Bank is known for its specialized banking solutions and close-knit customer relationships, making every client feel at ease, whether they’re saving for college or investing in a business.
8. Stanbic IBTC Bank – N4.97 trillion
Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has a healthy asset base of N4.974 trillion and serves customers through 130 locations across Nigeria.
Stanbic IBTC, known for its digital innovations and client-focused services, makes banking simple and accessible, catering to a wide range of customers.
9. First City Monument Bank Limited – N3.78 trillion
First City Monument Bank (FCMB) has assets of N3.78 trillion and serves 8.7 million customers through 203 locations.
FCMB, which was founded on the ideals of entrepreneurship and innovation, continues to extend its services throughout Nigeria, focusing on client relations and financial inclusion.
10. Union Bank of Nigeria – N3.65 trillion
Union Bank of Nigeria, founded in 1917, manages N3.65 trillion in assets and maintains 258 branches around the country.
Union Bank, Nigeria’s second oldest bank, mixes heritage with modern financial services, offering a dependable and fulfilling banking experience to its 7.8 million customers.
