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 over N3.5 trillion and market value of over N283 billion as of October 5, 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 September 30, 2016, it had total assets of N1.4 trillion (US$4.5 billion) and customer deposits of N796 billion (US$2.5 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) – A full service banking group. It is a member of FCMB Group plc, one of the leading financial institutions in Nigeria.

Guaranty Trust Bank (GTBank) – The third largest bank in Nigeria with over 10,000 employees. It operates through a network of over 200 branches in Nigeria with several bank and non-bank subsidiaries in West Africa, 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 June 22, 2017, the company’s market capitalization was N9.7 billion.

Stanbic IBTC Bank is a member of the Standard Bank Group, the largest bank in South Africa. As of December 31, 2016, Stanbic IBTC had over N1.05 trillion (US$3.4 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 to over 9 million customers through a network of over 600 branches in 19 African markets. As of June 30, 2017, UBA's market capitalization was NGN 318 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 First City Monument Bank 1,177.32