Banks in Nigeria

First Bank of Nigeria GTBank United Bank for Africa Union bank Zenith Bank
FirstBank GTBank UBA Union Bank Zenith Bank

Access Bank Plc – One of the largest banks in Nigeria with assets of about N3.5 trillion and market value of N287 billion as of November 10, 2017.

Afribank plc provided commercial and investment banking services. The Central Bank of Nigeria withdrew the banking license of Afribank in 2011.

Barclays (Nigeria) offers international banking services in Lagos. Barclays in Nigeria does not provide a local banking services from this office.

Citibank Nigeria has been operating in Nigeria since 1984. The Bank provides a broad array of financial services to corporate and commercial customers, financial institutions and public sector organizations.

Diamond Bank – A commercial bank providing a full range of products and services to retail and corporate customers. As of March 31, 2017, it had total assets of N2.075 trillion (US$6.5 billion).

Equitorial Trust Bank (ETB) was a commercial bank in Nigeria with approximately 100 branches across the country. It was acquired by Sterling Bank Plc.

Ecobank Nigeria – A commercial bank established in 1986. It is a subsidiary of Ecobank Transnational Inc, a leading pan-African banking group with branches in over 30 countries including Kenya, Cameroon, Benin, Angola, Burkina Faso, Chad, Burundi, Cape Verde, Central African Republic, Democratic Republic of Congo, Côte d'Ivoire, Equatorial Guinea, Ethiopia, Gabon, Ghana, The Gambia, Guinea, Guinea Bissau, Liberia, Malawi, Mali, Mozambique, Niger, Rwanda, Sao Tome & Principe, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Togo, Uganda, Zambia and Zimbabwe.

Fidelity Bank – A commercial bank in Nigeria with strategic focus on niche corporate banking, SMEs, retail and electronic banking. As of June 30, 2017, it had total assets of N1.3 trillion (US$4 billion) and customer deposits of N720 billion (US$2.2 billion).

First Bank of Nigeria (FBN) – The largest bank operating in Nigeria based on total assets and earnings. It was founded in 1894 and is headquartered in Lagos.

First City Monument Bank (FCMB) – One of the leading financial institutions in the country with about 3.7 million customers and 200 branches.

Guaranty Trust Bank (GTBank) – The fifth largest bank in Nigeria by total assets. It operates through a network of over 200 local branches with several bank and non-bank subsidiaries in West and East Africa and the United Kingdom.

Intercontinental Bank was one of the largest financial services providers in Nigeria. In 2011, Access Bank plc acquired 75% majority interest in Intercontinental Bank.

MainStreet Bank was acquired by Skye Bank Plc in 2014. Mainstreet Bank was established in 2011 by taking over the assets and liabilities of Afribank Nigeria Plc.

Oceanic Bank International Plc was one of the most recognized financial services brands in West Africa. It was acquired by Ecobank Nigeria in 2011.

Skye Bank Plc is a commercial bank with over 400 branches and approximately 900 ATMs across Nigeria. It has three bank subsidiaries namely Skye Bank Sierra Leone, Skye Bank Gambia and Skye Bank Guinea. As of January 5, 2018, the company’s market capitalization was NGN 8.5 billion.

Stanbic IBTC Bank is a member of the Standard Bank Group, the largest bank in South Africa. As of June 30, 2017, Stanbic IBTC had N1.27 trillion (US$3.8 billion) in total assets.

Sterling Bank Plc – A full service national commercial bank providing a wide range of banking services to individuals, businesses, non-profit organizations and government agencies.

Union Bank of Nigeria – One of the leading financial institutions in Sub-Saharan Africa with total assets of over N1.3 trillion (June 2017). It operates more than 300 branches nationwide.

United Bank for Africa (UBA) – One of Africa’s leading financial institutions offering universal banking services through a network of over 700 branches and 1,740 ATMs in 19 African markets. As of January 5, 2018, UBA's market capitalization was US$1.04 billion.

Wema Bank – A full-fledged commercial bank with operations in South-south, South-west, Lagos and Federal Capital Territory (Abuja) zones.

Zenith Bank – One of the largest banks in Nigeria and West Africa with total assets of N4.9 trillion (US$15 billion) and customer deposits of about N3 trillion as of June 30, 2017. The Bank has subsidiaries in Gambia, Ghana, Sierra Leone and the United Kingdom as well as representative officers in South Africa and China.

Top 10 Banks in Nigeria

 Below is a list of the 10 largest banks in Nigeria ranked by total assets.

Rank Name Total Assets, NGN b (June 30, 2017)
1 Zenith Bank 4,927.37
2 FBN Holdings 4,881.07
3 United Bank for Africa * 3,690.29
4 Access Bank Group 3,455.04
5 Guaranty Trust Bank 3,232.24
6 Diamond Bank Nigeria 2,065.73
7 Ecobank Nigeria 1,897.12
8 Union Bank of Nigeria 1,325.14
9 Fidelity Bank 1,308.70
10 Stanbic IBTC Holdings 1,273,96

* As of September 30, 2017, United Bank for Africa (UBA) had N3,771 billion in total assets.