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THE MOST RICHEST COMMERICAL BANK IN NIGERIA

10. Skye Bank

Most people may not imagine that Skye Bank would be in this top
ten list of largest Nigerian Banks. It is a very large financial
institution that provides services across Africa with subsidiaries
in Sierra Leone, the Gambia, the Republic of Guinea, Liberia,
Angola, and Equatorial Guinea. It has total assets worth more
than $3.9 billion.

9. Fidelity Bank

Fidelity has come a long way from when it was the former Fidelity
Union Merchant Limited. It was established in 1988 and has
appeared 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.
Fidelity Bank currently boasts of assets estimated at $6.31 billion
altogether.

8. Union Bank of Nigeria

Union Bank of Nigeria is one of the oldest banks in the country. It
was rated the 556th largest bank in the world and the 14th largest
bank in Africa in 2009. Its infrastructural capabilities allow it to
comfortably manage medium and large corporations. With satellite
offices in Johannesburg, London, Benin Republic and some other
countries in Africa, it can boast of an asset base of $6.8 billion,
making it one of the biggest banks in Nigeria.

7. Diamond Bank Nigeria PLC

Coming at number 10 is Diamond bank. Incorporated on 20th
December 1990, Diamond bank is a fully licensed commercial bank
in Nigeria that also provides services across Africa. The bank is
among Nigeria’s biggest and richest banks with assets worth
more than $7.3 billion.

6. United Bank for Africa

UBA has more than 7 million customers and 700 branches in
Africa including United Kingdom, United States, and France. The
current UBA formed as a result of a merger between the old UBA
and Standard Trust Bank and this has given the company an asset
worth of $12.3 billion.

5. Access Bank Nigeria

Access bank Nigeria started operating in 1989 when they received a
license from the Central Bank of Nigeria and in 1998, they listed on
the Nigerian Stock Exchange. Recently Access Bank acquired
Intercontinental Bank – another major commercial bank with a
large customer base bring up its customers to 5.7 million. It has
309 branches and 1600 ATMs across the country. The bank’s
total asset is worth $12.6 billion

4. Zenith Bank Nigeria

Zenith Bank PLC is the second richest bank in Nigeria with a total
asset worth more than $15.7 billion. It started operations in 1990
and went public in 2004. It currently has branches
in Gambia, Ghana, Sierra Leone, South Africa, and the United
Kingdom and has won several awards in banking and Finance.

3. Ecobank Nigeria

Since Ecobank acquired Oceanic bank, its asset bast has
tremendously increased to $6.174 billion. Ecobank Nigeria is a
subsidiary of Ecobank – Pan African bank that is present in 32
countries and headquartered in Lome. The financial institution
provides wholesale, retail, corporate, investment and transaction
banking services and has total assets worth more than $20 billion.

2. First Bank of Nigeria

If you have waited to find out the richest and biggest bank in
Nigeria, this is it. First Bank of Nigeria, which is truly the first,
was established in the early part of 20th century. It is fast
becoming a multinational bank with a presence in South Africa,
United Kingdom, France, China and recently acquired a leading
bank in the Democratic Republic of Congo: Banque International
de Credit (BIC). They have total assets estimated to be worth $21.3
billion.

1. Guaranty Trust Bank (GTBank)

Guaranty Trust Bank is one of the largest financial institutions in
the whole of West Africa. It is also one of the most profitable
banks based in Victoria Ireland, Nigeria. The company raised
$750,000,000 from an initial public offer from London Stock
Exchange and Deutsche Börse. GTBank’s assets are worth about
$11.77trillion.

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