The richest banks in Nigeria and their net worth will hereto be highlighted for broader knowledge in case you will need to decide which bank is supposed to be the financial institution that takes care of your money. Without question, many have had to start nurturing premonitions ever since the dissolution of the operations of some banks in the recent past in Nigeria. It is no longer news that this is as a result of the economic management failure that confronted them.
So, in order not to risk the possibility of having to forfeit your life’s savings or hard earned fortune, it is better to have the list of the top 10 richest banks in Nigeria and their net worth. At least this piece of information is needed for you to know that your money is on a long term safety and security.
Top 10 Richest Banks in Nigeria and their Net Worth.
Here are the top richest banks in Nigeria and their net worth that you will have to know for the financial assurances of your savings and current accounts:
1. First Bank
First Bank of Nigeria Limited was established in 1894. The bank is the premier Bank in West Africa and Nigeria’s number one bank brand and the leading financial services solutions provider in Nigeria. he Bank was founded by Sir Alfred Jones, a shipping magnate from Liverpool, England. With its head office originally in Liverpool, the Bank commenced business on a modest scale in Lagos, Nigeria under the name, Bank of British West Africa (BBWA).
First Bank had 1.3 million shareholders globally, was quoted on The Nigerian Stock Exchange (NSE), where it was one of the most capitalized companies.
Currently, the bank is worth N5,900,000,000,000 (N5.9 trillion).
2. Zenith Bank
Zenith Bank is a leading Nigerian, technology-driven, global financial institution that provides distinctive range of financial services. Zenith Bank Plc was established in May 1990, and commenced operations in July of the same year as a commercial bank. The Bank became a public limited company on June 17, 2004 and was listed on the Nigerian Stock Exchange (NSE) on October 21, 2004 following a highly successful Initial Public Offering (IPO).
It currently has a shareholder base of more than half a million and is Nigeria’s biggest bank by tier-1 capital. In 2013, the Bank listed $850 million worth of its shares at $6.80 each on the London Stock Exchange (LSE). It is headquartered in Lagos, Nigeria, and has over 500 branches.
Zenith Bank has been ranked as the number one banking brand which is among the first 400 banks in the global ranking in Nigeria. It is proud of with a brand value of over N10. 32 trillion net worth.
3. Eco Bank
Today, Eco bank is the leading pan-African bank with operations in 36 countries across the continent. It has a larger African footprint than any other bank in the world.
The bank is worth of N11.7trn.
4. Access Bank
Access Bank, as one of the top 10 richest banks in Nigeria and their net worth, is known to be the bank that delivers sustainable economic growth that is profitable, environmentally responsible and socially relevant.
Undoubtedly, its total assets is recently estimated to be N11.73 trillion.
5. GTB
Guaranty Trust Bank Limited is a multinational financial institution that provides individuals, businesses, private and public institutions across Africa and the United Kingdom with a broad range of market-leading financial products and services. Headquartered in Lagos, Nigeria and with subsidiaries in Cote D’Ivoire, Gambia, Ghana, Liberia, Kenya, Rwanda, Tanzania, Uganda, Sierra Leone and the United Kingdom, the Bank currently employs over 12,000 professionals and also has the shareholders’ funds of ₦661.1Billion.
In 2019, GTBank was recognized as the Best Bank in Africa and Best Bank in Nigeria, by the Euromoney Magazine and the Best Banking Group and Best Retail Bank Nigeria by World Finance Magazine.
GTB has total assets of ₦4.057trillion.
6. UBA
United Bank for Africa (UBA) is Africa’s Global bank with a rich history spanning over seven decades. The bank which is headquartered in Lagos, Nigeria, is one of the most recognised financial institutions to originate from Sub-Saharan Africa with thriving operations in 20 African countries – Republique du Benin, Burkina Faso, Cameroun, Congo Brazzaville, Congo DRC, Cote d’lvoire, Gabon, Ghana, Guinea, Kenya, Liberia, Mali, Mozambique, Nigeria, Senegal, Sierra Leone, Tanzania, Tchad, Uganda and Zambia.
UBA provides corporate, commercial, SME, consumer and personal (retail) banking services to more than 27 million customers, served through diverse channels: over 1,000 business offices and customer touch points with 2,669 ATMs, 87,223 PoS, and robust online banking services.
The United African Bank is currently worth of N8.5 trillion as its total assets.
7. Union Bank
The Bank is one of our top 10 richest banks in Nigeria and their net worth is N2.58 trillion.
8. Fidelity
Fidelity Bank Plc is currently the 25th most valuable stock on the NGX with a massively huge market capitalization as recorded on the Stock Exchange market.
Fidelity Bank is proud of a total asset of N1.5 trillion as at 2022.
9. Stanbic Bank
Stanbic Bank offers all her clients a wide range of personal, business and commercial banking products through her various branches spread across Nigeria and their online banking platforms. It is also a key player in financial inclusion and is poised to take banking to the doorsteps of her customers; taking care of the banking needs of different categories of persons and businesses.
The bank is holding a net worth of NGN 2.6 trillion.
