Best bank in Nigeria 2022! Do you want to discover which banks are the best in Nigeria right now? If so, you’ve come to the correct spot.
Banks are financial organizations that are authorized to provide financial services as well as function as a middleman in financial transactions. In Nigeria, there are several types of banks in Nigeria, including development banks, mortgage banks, savings banks, merchant banks, and commercial banks.
The best Banks in Nigeria, the best bank for online transactions in Nigeria, a list of the top 9 Banks in Nigeria, and much more will be covered in this article.
Table of Contents
Best Banks In Nigeria
This list of leading banks in Nigeria is a useful starting point for anybody interested in a banking profession in Nigeria.
Zenith Bank :
Zenith Bank Plc. has been named the Best Bank in Nigeria in the Global Finance Magazine’s Best Banks Awards 2022 for the third year in a row. The bank was recognized with institutions from 36 African nations when the renowned Global Finance revealed the winners of its 29th Annual Best Bank Awards
Guaranty Trust Bank (GTB):
GTB was created on January 17, 1990, and became incorporated as a limited liability company permitted to provide commercial and other banking services to the Nigerian public. However, activities began the next year, in 1991. Since its inception, GTB has established itself as one of the best, most recognized, and service-oriented banks in Nigeria. Its track record of success has also won it a banking license to operate in a number of countries outside of Nigeria.
Access Bank:
In terms of assets, loans, deposits, and branch network, Access Bank is now one of Nigeria’s major banks. It is worth noting that, following its merger with Diamond Bank on April 1, 2019, Access Bank has become one of the largest banks not only in Nigeria, but also in Africa.
Access Bank’s customers are served by five business segments: institutional, commercial, retail banking, transaction services, and financial markets. Access Bank has undoubtedly had the most successful banking trajectory growth in Nigeria over the previous ten years, amassing vast total assets and capital while offering excellent customer service.
United Bank for Africa PLC (UBA):
UBA, or United Bank for Africa, is a prominent pan-African financial organization headquartered in Lagos, Nigeria, with subsidiaries in over 21 African nations. As a result, UBA is the largest bank in Nigeria, and one of the largest in Africa.
First Bank of Nigeria:
Founded in 1894, First Bank is the foremost bank in West Africa and Nigeria’s top provider of financial services solutions. It is, as the name suggests, Nigeria’s first bank.
First Bank is the most lasting financial service brand in Nigeria and Africa as a whole, with subsidiaries in London, Paris, and Ghana, among other places.
Fidelity Bank:
Founded in 1988 as a merchant bank, Fidelity Bank Plc transformed to a commercial bank in 1999, obtaining a Universal Banking license in 2001 and an International Banking license in 2011. Since its inception as a commercial bank, Fidelity has grown to become one of the greatest banks in Nigeria, renowned for its financial stability, security, honesty, and effective service delivery to clients.
Fidelity Bank provides consumers with a comprehensive variety of financial services, with a strategic focus on SME, specialist corporate banking, digital, and retail banking. Its proficiency in these areas has propelled them to the fourth best bank in the retail sector.
First City Monument Bank LTD:
First City Monument Bank LTD, often known as FCMB, was created on April 20, 1982, creating history as the first bank in Nigeria to be established without the assistance of the government or foreign investors.
FCMB provides complete banking services to small and big organizations, individuals, and small and medium enterprises in sectors such as retail banking, corporate banking, and investment banking. FCMB was named Africa’s finest SME bank in 2020. It was also named Outstanding SME Supporting Bank of the Year.
Ecobank:
Ecobank is one of Nigeria’s oldest banks. It is still a major pan-African financial corporation, having operations in 36 African nations. Ecobank is one of the wealthiest banks in Nigeria in terms of asset values, according to the bank’s 2020 Q3 financial results, which were approved by the bank’s board of directors on November 25th, 2020.
Ecobank in Nigeria concentrates on delivering retail, corporate, wholesale, investment, and transaction services to its clients, and it is one of the most popular banks among Nigerian pay workers.
Stanbic IBTC Bank PLC:
Stanbic IBTC is a financial holding firm with nine subsidiaries that specialize in pension, investment, capital, stock exchange, asset management, and banking. It presently operates in 18 countries and is Africa’s largest banking company in terms of assets and revenues.
Stanbic IBTC provides one-of-a-kind digital banking services, as well as a mobile application that uses voice banking, insurance packages, an electronic wallet for banking, and investment options. Stanbic IBTC Bank was named Nigeria’s top investment bank in 2018.
Polaris Bank:
Polaris Bank, previously the defunct Skye Bank, is one of Nigeria’s new generation banks, having been created on September 21, 2018 and beginning operations the same day after buying the assets and liabilities of the bankrupt Skye Bank.
Polaris Bank has won a position on the list of the top banks in Nigeria despite its very short time in existence, owing to its track record in customer care and great client experience.
Kuda Bank:
Kuda is Nigeria’s first and fastest growing electronic banking system (with headquarters in London, United Kingdom). So far, its rate of growth has surpassed that of several of Nigeria’s largest banks, owing to its ease of use and comprehension by residents. Babs Ogundeyi and Musty Mustapha founded Kuda in 2015. During the Covid 19 period, when individuals were obliged to stay at home, the back grew increasingly fashionable.
Best bank for online transactions in Nigeria
The best bank for online transaction are listed below:
- V by VFD (Vbank)
- ALAT
- Kuda
- Rubies
- OneBank
- Sparkle
- Eyowo
List of Top 9 Banks in Nigeria
Here is the list of top 9 banks in Nigeria:
- Zenith Bank
- Guaranty Trust Bank (GT Bank)
- First Bank of Nigeria
- Ecobank Nigeria
- Access Bank
- United Bank of Nigeria
- Diamond Bank
- Union Bank of Nigeria
- Fidelity Bank
The combination of Access Bank and Polaris Bank demonstrates how the banking industry in Nigeria is continually evolving. This is because of a number of things. As the digital banking sector develops, it is vital to be aware of the best banks in Nigeria.
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