Nigeria has one of the largest banking industries in Africa, with financial institutions that serve millions of customers daily. Whether you’re opening your first account, looking for investment opportunities, or just curious about the biggest players in the industry, knowing Nigeria’s top banks is essential. In this article, we break down the 10 largest banks in Nigeria, their sizes, history, and what makes them stand out. Let’s dive in!

10. Union Bank of Nigeria – N3.65 trillion

Established in 1917, Union Bank is one of Nigeria’s oldest financial institutions. Over the years, it has built a strong reputation for stability and trust. Today, it has an asset size of about N3.65 trillion and serves over 7.8 million customers through its 258 branches and cash centers nationwide.

Why It Matters: Union Bank has consistently focused on digital banking solutions and financial inclusion, making banking accessible to more Nigerians.

9. First City Monument Bank (FCMB) – N3.78 trillion

FCMB started in 1982, founded by Otunba Subomi Balogun. Today, it has grown into a major player in Nigeria’s banking industry, with an asset size of N3.78 trillion. FCMB operates in all 36 states, with 203 branches and a customer base of about 8.7 million people.

What Stands Out: FCMB is known for its support of small businesses and entrepreneurs, making it a preferred bank for startups and SMEs.

8. Stanbic IBTC Bank – N4.97 trillion

A subsidiary of South Africa’s Standard Bank Group, Stanbic IBTC has an asset size of N4.97 trillion. With about 130 branches and 814 ATMs across Nigeria, this bank is widely recognized for its innovative digital banking services.

Why People Like It: If you’re into wealth management, investments, or stock trading, Stanbic IBTC is a go-to bank.

7. Fidelity Bank – N6.23 trillion

Fidelity Bank started as a merchant bank in 1988 but later transformed into a commercial bank in 1999. It has grown steadily and now has an asset size of N6.23 trillion, with 249 branches in Nigeria and one in the UK.

Key Feature: Fidelity Bank is known for strong customer service and SME-friendly banking solutions.

6. GT Bank – N8.79 trillion

GT Bank, a subsidiary of GTCO Holdings, is one of Nigeria’s most popular banks. With an asset size of N8.79 trillion and 270 locations, including 237 branches and 33 digital banking outlets, GT Bank has set itself apart with excellent digital banking services.

Why It’s Popular: GT Bank is a leader in mobile and internet banking, making transactions seamless and easy for customers.

5. Ecobank Nigeria – N10.37 trillion

A subsidiary of Ecobank Transnational Incorporated, Ecobank Nigeria has assets worth N10.37 trillion. The bank operates 273 branches and 541 ATMs nationwide.

What’s Interesting: Founded in Togo, Ecobank operates in 32 African countries, making it one of the most Pan-African banks on this list.

4. First Bank of Nigeria – N16.90 trillion

First Bank, Nigeria’s oldest bank, was established in 1894. With an asset size of N16.9 trillion, it has 595 branches and 144 Quick Service Points (QSPs) in Nigeria. Additionally, it has 86 international branches.

Biggest Strength: It serves over 41 million customers, making it Nigeria’s bank with the highest number of account holders.

3. Zenith Bank – N24.28 trillion

Founded in 1990 by Jim Ovia, Zenith Bank has grown into Nigeria’s third-largest bank, with an asset size of N24.28 trillion. It has 447 branches, including 397 in Nigeria, and serves over 33 million customers.

Why It’s Special: Zenith Bank is known for its profitability and strong corporate banking services.

2. United Bank for Africa (UBA) – N25.37 trillion

UBA operates in 24 countries, with 451 branches in Nigeria alone. It has an asset size of N25.37 trillion and employs over 10,000 staff worldwide.

Key Fact: UBA is one of the best banks for international banking services, with a presence in Africa, Europe, and the U.S.

1. Access Bank – N32.57 trillion

Access Bank is Nigeria’s largest bank, with assets worth N32.57 trillion. It has 737 branches, including 554 in Nigeria and 183 in 20 other countries.

Why It’s Number One: Access Bank has expanded aggressively, acquiring several banks over the years, making it the biggest financial institution in Nigeria.

Comparison Table of Nigeria’s Top 10 Banks

These banks play a crucial role in Nigeria’s economy, offering various services from personal banking to large corporate financing. Whether you need a simple savings account, a business loan, or international banking services, there is a bank that fits your needs.