Banks in Nigeria! If you’re an ambitious Nigerian looking to make money both online and off, a bank will be one of your most important resources. A bank assists you in many ways, including storing and transferring your money. Knowing your bank’s location and all of its contact details is crucial.
All of Nigeria’s banks offer secure banking services. In 1988, the Nigeria Deposit Insurance Corporation (NDIC) was established to safeguard depositors and ensure timely distribution of insured funds in the event that insured institutions fail. This implies that your money would be safe even if the banks failed.
The Top Banks in Nigeria, a list of the Commercial Banks in Nigeria, the best bank in Nigeria, the Total Number of Banks in Nigeria, and much more will be covered in this article.
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Top Banks in Nigeria
Nigeria’s top banks are:
Access Bank was given a commercial banking license by the Central Bank of Nigeria in 1988. It became a privately held commercial bank in 1989. Personal banking, business banking, commercial banking, and corporate and investment banking are the four key areas of the bank.
Diamond Bank was entirely merged with Access Bank in April 2019 to establish a new firm while preserving the name Access Bank and a Diamond Bank brand. Following the merger, Access Bank became Nigeria’s largest bank.
Access Bank now employs 6,781 people and has 600 branches in Nigeria, as well as two in the United Kingdom and a representative office in the Republic of China, the United Arab Emirates, India (Mumbai), and Lebanon (Beirut).
NGN 104.68 billion in profit (2020)
Total assets: 9.05 trillion NGN (3/2021).
Zenith Bank, founded in 1990, provides retail and SME banking, private banking, corporate and investment banking, foreign exchange, treasury services, trade services, and other financial services. It became a public limited liability company in 2004 and was later listed on the Nigerian Stock Exchange.
The bank presently serves over 1.6 million customers and employs over 7,500 people. It has 436 branches, 177 cash centers, and 2,042 ATMs, as well as subsidiaries and representative offices in Ghana, Gambia, South Africa, Sierra Leone, the United Kingdom, China, and the United Arab Emirates (Dubai).
NGN 230.37 billion in profit (2020)
Total assets: 8.68 trillion NGN (3/2021).
Guaranty Trust Bank (GTBank)
Guaranty Trust Bank (GTBank), founded in 1990, began banking operations in 1991. GTBank provides a comprehensive variety of financial services, including retail, corporate, and investment banking, as well as online/internet banking and asset management. It went public on the London Stock Exchange in 2007, becoming the first African bank to do so.
GTBank, headquartered in Lagos, employs 6,459 people and serves over eight million clients. It has 48 domestic branches, 92 ATMs, and 44 e-branches, as well as other branches in other African nations including the United Kingdom.
NGN 194.96 billion in profit (2020)
Total assets: 4.99 trillion NGN (3/2021).
First Bank of Nigeria (FBN Holdings)
First Bank of Nigeria (FBN Holdings), headquartered in Lagos, operates via four key Strategic Business Units (SBUs): retail banking, commercial banking, corporate banking, and public sector banking. FirstBank, founded in 1894, became a public business in 1970 and entered the Nigerian Stock Exchange in 1971.
The bank is in charge of subsidiaries in West African countries as well as the United Kingdom, as well as representative offices in Abu Dhabi, Beijing, and Johannesburg. It employs over 8,300 people and has a network of over 818 branches and over 3,100 ATMs.
NGN 87.99 billion in profit (2020)
Total assets: 7.84 trillion NGN (3/2021).
Ecobank Nigeria, founded in 1986, is a subsidiary of the pan-African banking corporation Ecobank Transnational Inc. The universal bank provides services in retail, corporate, wholesale, and transaction banking, as well as capital markets and investment banking.
Ecobank is organized into three divisions: retail banking, wholesale banking, and Treasury and Financial Institutions. It presently supervises approximately 600 branches in Nigeria.
NGN 1.26 billion in profit (2019)
NGN 1.99 trillion in total assets (2019)
United Bank for Africa
United Bank for Africa, founded in 1948 as the British and French Bank Limited (BFB), is one of Nigeria’s oldest banks. It launched its initial public offering (IPO) in 1970, becoming the first Nigerian bank to list its shares on the Nigerian Stock Exchange. The firm provides a comprehensive range of financial products and services to retail, commercial, and corporate consumers.
United Bank employs over 10,500 people and services over 14 million customers worldwide. In Africa, it has around 1,000 branches and touchpoints, 13,500 POS machines, and 1,740 ATMs.
NGN 109.33 billion in profit (2020)
Total assets: 7.89 trillion NGN (3/2021).
Union Bank of Nigeria
Union Bank of Nigeria, founded in 1917 as Colonial Bank, provides retail and commercial services to consumers, SMEs, and big businesses. It changed its name after becoming a wholly-owned Nigerian corporation and to conform with the Companies and Allied Matters Act of 1990.
The bank presently employs over 2,400 people and serves 4.3 million clients via a network of 300 sales and service locations, 950 ATMs, and 7,000 active POS terminals.
NGN 18.54 billion in profit (2020)
NGN 2.16 trillion in total assets (3/2021).
Fidelity Bank, founded in 1987, began operations as a merchant bank in 1988. It was founded in 1999 as a commercial bank and received its universal banking license two years later.
Individual and corporate customers can choose from a comprehensive range of financial products and services, with a strategic emphasis on retail and electronic banking, SMEs, and specialist corporate banking. It is now in charge of 250 company offices, 774 ATMs, and 4,046 point-of-sale devices.
NGN 26.65 billion in profit (2020)
Total assets: 2.89 trillion NGN (3/2021)
List of Commercial Banks in Nigeria
This is a list of the 24 Commercial Banks and their phone number within the territory of Nigeria.
|Zenith Bank Plc||+234-1-2787000|
|Access Bank Plc||+23412802500|
|First Bank Of Nigeria LTD||+2347080625000|
|Guaranty Trust Bank Plc||+23414480000|
|United Bank For Africa Plc||+23412808822|
|Union Bank of Nigeria Plc||+23412716816|
|Heritage Banking Company LTD||+23412369000|
|Stanbic IBTC Bank Ltd||+23414222222|
|Standard Chartered Bank Nigeria Ltd||+23427046114|
|Keystone Bank Limited||+23470020003000|
|Parallex Bank Ltd||+23417002600|
|Polaris Bank Limited||+2348069880000|
|Premium Trust Bank||+2347056974429|
|First City Monument Bank Plc||+23412798800|
|Globus Bank Limited||+23412259000|
|Ecobank Nigeria Plc||+2347005000000|
|Fidelity Bank Plc||+2349030005252|
|Providus Bank Limited||+23470077684387|
|Citibank Nigeria Limited||+23412798400|
|Sterling Bank Plc||+234144844815|
|SunTrust Bank Nigeria Limited||+2349087331440|
|Titan Trust Bank Ltd||+23412265100|
|Unity Bank Plc||+2347080666000|
|Wema Bank Plc||+2348039003700|
How many Banks are there in Nigeria
According to the Central Bank of Nigeria, Nigeria has 112 banks: 24 commercial banks, 35 mortgage banks, 6 development banks, 40 micro-finance banks, 2 non-interest banks, and 5 merchant banks.
What is the best Nigerian bank
Zenith Bank Plc has been voted the Best Bank in Nigeria by Global Finance Magazine’s Best Banks Awards 2022 for the third consecutive year. As the winners of the prestigious 29th Annual Best Bank Awards were announced by the famous Global Finance, the Bank was honored among other banks from 36 African countries.
Richest Banks in Nigeria
According to market capitalization, Zenith Bank continues to be the most valued bank. As of the end of January 2022, Zenith Bank, GT Bank, and Stanbic IBTC Holdings still held the top three positions for the most valuable commercial banks in Nigeria, with the market capitalization of the thirteen listed Nigerian banks rising by N194.
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