(Latest Ranking) Top Ten Banks in Nigeria 2018

(Latest Ranking) Top  Ten Banks in Nigeria 2018

Currently, here in nigeria they are banks that are doing so well lots of banks have been strengthened through the influence of the central monetary system –widely regarded as the Central Bank of Nigeria. In this regard, the CBN has continually formulated banking policies aimed at saving the commercial banks from banking difficulties such as insolvency.


In the event of banking difficulties, the CBN may grant loans to certain banks in order to stabilize their operations and prevent them from likely liquidation. 

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Furthermore, as to the focal point of this post, we’re pleased to provide you with the names of Nigeria’s leading banks. Meanwhile, this post comes in form of a ranking that comprises the Top 10 Nigerian Banks. Also noteworthy, these banks are ranked in accordance with their total assets and it is supposed that each of them provides its customers with reliable and stable banking services.

1. Guaranty Trust Bank Plc (GTBank)

Guaranty Trust Bank is easily shortened to GTBank and precisely, it claims the greatest spot on this list. Since it was set up in 1990, GTBank has constantly broadened its customer base and presently, it maintains an unrivaled feat as the best Nigerian bank. Having acquired assets estimated at ₦11.77trillion altogether, GTBank buttresses its banking services by operating across all 36 Nigerian States through its subsidiaries. Based on reports, GTBank currently has a massive staff of 10,000 members.

  1. Customer service: 0700 4826 66328
  2. Headquarters: Victoria Island, Lagos
  3. Stock price: 37G1 (FRA) €4.79 -0.02 (-0.42%)
  4. CEO: Segun Agbaje (22 Jun 2011–)
  5. Founders: Fola Adeola, Tayo Aderinokun

2. First Bank Plc 

First Bank of Nigeria, sometimes referred to as FirstBank, is a Nigerian multinational bank and financial services company headquartered in Lagos. It is the biggest bank in Nigeria by total deposits and gross earnings.

For innumerable years, First Bank has remained an active banking institution spanning its banking operations across and beyond the borders of Nigeria. And quite impressively, the bank now has subsidiaries in the United Kingdom and across several West African countries including Senegal, Ghana, Sierra Leone and the Gambia. Just a little behind GTBank, First Bank happens to be the second biggest Nigerian bank with its total assets estimated to be worth ₦21.3 billion.

  1. Headquarters: Lagos
  2. Founder: Alfred Lewis Jones
  3. Founded: 1894, Lagos
  4. Chairperson: Ibukun Awosika
  5. CEO: Adesola Kazeem Adeduntan (Jan 2016–)

3. Ecobank Nigeria

Ecobank is a remarkable bank with banking operations spiraling across the globe. Precisely, the bank controls numerous subsidiaries amongst which are found in South Africa, France, Angola and a few other countries. Currently, Ecobank delivers its banking services with the help of a staff comprising over 19,000 members. Also, the bank’s assets are believed to worth ₦20.0 billion.

  1. Headquarters: Lomé, Togo
  2. Founded: 1985
  3. CEO: Albert Essien (Mar 2014–)
  4. Motto: The pan African Bank

4. Zenith Bank of Nigeria Plc

Zenith Bank was established in 1990. With over 500 subsidiaries, Zenith Bank delivers its banking services in the United Kingdom and across West African countries including The Gambia, Sierra Leone, Ghana, and Nigeria. Zenith Bank is actively committed to quality banking services and with the help of its staff (comprising over 6,600 members), the bank has been able to acquire many customers –particularly in Nigeria. In assets, Zenith Bank is believed to have acquired nearly ₦15.7 billion.

  1. CEO: Peter Amangbo (1 Jun 2014–)
  2. Founder: Jim Ovia
  3. Founded: May 1990, Nigeria
  4. Headquarters: Lagos

5. Access Bank Plc

Access Bank was established in 1989, Access Bank appears among the leading Nigerian banks with a massive staff (estimated in excess of 9,000 employees) and numerous subsidiaries. With respect to this, the bank operates within Nigeria through the backbone of over 300 branches. Besides Nigeria, Access Bank delivers banking services with the help of its branches based in Sierra Leone, Zambia, Congo and the United Kingdom. In assets, Access Bank Plc boasts of ₦12.6 billion.

  1. Headquarters: Lagos
  2. CEO: Herbert Wigwe (Jan 2014–)
  3. Founded: 1989, Apapa, Lagos
  4. Revenue: 298 million USD (NGN:59 billion, 2015)

6. United Bank for Africa (UBA)

This bank assumes the acronym UBA and happens to be one of Nigeria’s longest-serving banks. Established in 1949, UBA has attained lofty heights through its banking services which span across the United States, U.K, and many African countries. Meanwhile, this remarkable stance emerges through the help of its subsidiaries exceeding 600 branches. To substantiate how a multitude of people have benefited from its banking services, UBA is declared with a total of 7 million customers.

Believed to have emanated from the mutual partnership between Continental Trust Bank Limited and Standard Trust Bank Plc, UBA has acquired sumptuous assets currently valued at ₦12.3 billion.
  1. Customer service: 0700 225 5822
  2. CEO: Kennedy Uzoka (31 Jul 2016–)
  3. Motto: Africa's Global Bank
  4. Founded: 1949
  5. Headquarters: Lagos

7. Diamond Bank Plc

Diamond Bank PLC began as a private limited liability company on March 21, 1991 (the company was incorporated on December 20, 1990). Ten years later, in February 2001, it became a universal bank.

Moreover, Diamond Bank happens to be one of the remarkable banking institutions established in 1990 [others being Zenith Bank and GTBank). As of now, Diamond Bank constantly gears its efforts towards widening its customer base by providing great banking facilities. At the same time, the bank is declared with the total assets of ₦7.3 billion.
  1. Headquarters: Nigeria
  2. CEO: Uzoma Dozie (24 Oct 2014–)
  3. Founder: Pascal G. Dozie
  4. Founded: 20 December 1990, Nigeria

8. Union Bank of Nigeria

Union Bank is a large commercial bank, serving individuals, small and medium-sized companies, as well as large corporations and organizations. In July 2009, it was rated the 556th largest bank in the world and the 14th largest bank in Africa. As of Mar 31, 2018, the bank's asset base was estimated at NGN1, 381 billion (US$4.1billion). The shareholders' equity at that time was estimated at NGN286 billion (US$851 million).

  1. Founded: 1917
  2. Executive director: Emeka Okonkwo (Corporate Banking)
  3. Headquarters: Lagos
  4. Total assets: 4.1 billion USD (NGN1,381 billion, 2018)

9. Fidelity Bank

Fidelity Bank, also known as Fidelity Bank Plc., is a commercial bank in Nigeria. It is licensed as a commercial bank, by the Central Bank of Nigeria, the central bank and national banking regulator. 

Having evolved through the former Fidelity Union Merchant Limited established in 1988, Fidelity Bank appears on this list as one of Nigeria’s strongest and most reliable banks. Presently, it carries out banking operations with the support of its 220 global subsidiaries. 

Likewise, it has constantly extended its customer base and now has 2.3 million customers. Very importantly, Fidelity Bank currently boasts of assets estimated at ₦6.31 billion altogether.
  1. CEO: Nnamdi J. Okonkwo (Feb 2014–)
  2. Founded: 1988
  3. Headquarters: Lagos State

10. Skye Bank

Skye Bank Plc., commonly known as Skye Bank, is a commercial bank based in Nigeria. It is one of the twenty-six commercial banks licensed by the Central Bank of Nigeria, the country's banking regulator. 

Formerly associated with the name Prudent Bank Plc, Skye Bank came into inception in 1989 and has magnified its operations across Nigeria with the help of 260 subsidiaries. Meanwhile, the bank has managed to expand its Nigerian customers and is currently declared with the total assets of ₦3.9 billion.
  1. Headquarters: Lagos
  2. CEO: Tokunbo Abiru (4 Jul 2016–)
  3. Founded: 2006

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