Nigeria is one of the economic power-houses in Africa, thanks to her investment policies, natural resources and political stability. This can be seen in the growth and success of the banks and other financial institutions in Nigeria. It is therefore not surprising that 13 Nigerian Banks made it to the Banker’s Magazines top 1000 World Banks. There are numerous big banks in Nigeria most of which are international. Here is a list of the top 22 biggest Nigerian banks.
Also referred to as FirstBank, First Bank of Nigeria (FBN) is the biggest bank in Nigeria in terms of assets. As at June 2013, this bank had an asset base of $ 21.3 billion equivalent to 3.336 trillion NGN.
2. Zenith Bank
Zenith Bank is the second largest financial institution and company in Nigeria with an asset base of $ 14.147 billon. It has branches elsewhere in Africa and Europe and continues to grow.
With over 7 million customers and more than 700 branches in Africa, United Kingdom, France and the United States, UBA has grown fast especially after merger with Standard Trust. It has an asset base of $ 11.901 billion.
Soon after merger with Intercontinental Bank, the Access Bank Nigeria had their customer base catapulted to 5.7 million customers and 309 branches. According to records, this financial institution has an asset worth of $ 10. 014 billion.
This bank is not just big; it is ranked as one of the most profitable Bank in Victoria Island in Lagos. The company had an IPO in London Stock exchange and Deutsche Borse, which raised $750 million to add to its asset base of $9.874 billion. [Find out how to open an account with GTBank Nigeria]