The Richest Bank In Nigeria 2022
In this post, we are going to look into the richest bank in Nigeria. As we all know that there are many banks in Nigeria and the customers can’t just understand the difference between each of the banks.
When it comes to the richest bank in Nigeria, one needs to take into account the companies total assets.
Below is the richest bank in Nigeria
According to the company total assets report;
10. First City Monument Bank – N1.89 Trillion Naira
9. Union Bank: N1.98 Trillion Naira
8. Fidelity Bank: N2.114 Trillion Naira
7. Stanbic IBTC: N2.43 Trillion Naira
6. Gtbank: N4.06 Trillion Naira
5. Zenith Bank: N4.46 Trillion Naira
4. United Bank for Africa: N6.4 Trillion Naira
3. First Bank: N7.02 Trillion Naira
2. Access Bank: N7.28 Trillion Naria
1. Ecobank: N8.97 Trillion Naira
10. First City Monument Bank (FCMB)
- N1.89 Trillion Naira Total Assets
FCMB, or First City Monument Bank, is one of Nigeria’s most well-known and profitable banks. The bank’s headquarters are in Lagos, and it has branches throughout Nigeria. Total assets were reported to be N1.89 trillion in the first quarter of 2020, up from N1.67 trillion in December 2019.
9. Union Bank
- N1.98 Trillion Naira Total Assets
One of Nigeria’s oldest and most dependable banks is Union Bank of Nigeria. Since 1917, they have been operating in Nigeria. After the second quarter of 2019, they had N1.98 trillion in total assets.
8. Fidelity Bank
- N2.114 Trillion Naira Total Assets
The bank now has over 4 million customers in the United States and abroad. They presently have approximately 240 commercial locations, 775 ATMs, and 4346 point-of-sale terminals. The entire asset value as of March 2019 was N1.9 trillion. It was estimated to reach N1.720 trillion in December. The total asset value in March 2020 is N2.114 trillion.
7. Stanbic IBTC
- N2.43 Trillion Naira Total Assets
The bank first opened its doors in Nigeria in 1989 and has remained one of the country’s top banks ever since. Stanbic Bank provides a variety of services including investing, savings, loans, credit and debit cards, financial counseling services, and more. The total asset in the first quarter of 2020 is N2.43 trillion.
- N4.06 Trillion Naira Total Assets
The bank has grown bigger and stronger to the point where it now competes with institutions that existed long before it. Gtbank‘s total assets were N3.598 trillion in the first quarter of 2019. It reached N3.76 trillion in December 2019. In March 2020, the first quarter’s revenue was reported to be N4.06 trillion.
5. Zenith Bank
- N4.46 Trillion Naira Total Assets
Zenith Bank is one of Nigeria’s banks with total assets over N5 trillion, which may be of interest to you. In Nigeria, the bank now has approximately 500 branches spread around the country. The bank’s total assets are N4.46 trillion, according to Q1 2020 data. Making a 5% increase from the December 2019 report, which stated total assets of N4.26 trillion.
4. United Bank for Africa
- N6.4 Trillion Naira Total Assets
United Bank for Africa (UBA) is one of Nigeria’s most well-known banks. The bank has offices in New York, London, and Paris, as well as in over 20 African countries. With over fifteen million customers and 1000 offices across Africa, the bank is dedicated to providing exceptional financial services to every African. It has climbed to N5.6 trillion as of December 2019. They declared a total asset of N6.4 trillion in the first quarter of this year, March 2020.
3. First Bank
- N7.02 Trillion Naira Total Assets
First Bank is a major player in the banking business, with over 700 locations and ten million customers. Outside of Nigeria, the bank has branches in the United Kingdom, the United Arab Emirates, South Africa, China, and a number of other countries. First Bank of Nigeria’s total assets increased to N5.7 trillion in the first quarter of 2019. In December 2019, however, it reported total assets of N6.20 trillion. Its entire asset value was 7.02 trillion Naira in March 2020.
2. Access Bank
- N7.28 Trillion Naria Total Assets
Following its merger with Diamond Bank plc, the group has grown to become the country’s largest finance services supplier. Across its hundreds of commercial offices and touch points, the bank employs over 9000 people. The bank’s total assets were reported to be N4.954 trillion in March 2019. Their total assets amounted to N7.14 trillion in December 2019. The entire asset value as of March 2020 Q1 reports was N7.28 trillion.
- N8.97 Trillion Naira Total Assets
Officially, the richest bank in Nigeria is Ecobank as of December 2019, according to the bank’s total assets as reported in their Q1 report. The bank’s assets have been increasing. According to 2018 Q1 statistics, the bank’s total assets were N 7.84 trillion. The bank expanded by 4% in 2019, according to the reports. In December 2019, N 8.62 trillion was spent, while in March 2020, N 8.97 trillion was spent.