Zenith, Access, and 7 more top Nigeria’s banks with N9.4trn assets – moneyamebo

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Access Bank, Zenith Bank, First Bank, along with seven additional commercial banks, have solidified their positions as Nigeria’s leading financial institutions in terms of assets. During the initial half of 2023, these banks witnessed a remarkable growth in their asset holdings, reaching a total of N90.4 trillion. This figure signifies a substantial 34% surge compared to the N67 trillion reported for the corresponding period in 2022.

 

Zenith Bank, Access Bank, First Bank
9 Banks are Nigeria’s biggest banks by assets base Credit: @nairarates
Source: Getty Images

Top banks in Nigeria increase assets by N90.4 billion

The banking institutions have broadened their offerings throughout the African continent and, going even further, have expanded their reach across Africa and into global markets. They employ a strategic blend of acquisitions and mergers to enhance their profitability both within Africa and on a broader scale.

A select cluster of prominent Nigerian commercial banks, known for their substantial assets, have solidified their positions as industry frontrunners in the financial services sector.

In the first half of 2023, these banks demonstrated remarkable resilience by augmenting their asset base despite the challenging economic climate.

According to a report from BusinessInsider, Nigeria’s nine largest banks collectively amassed a total asset value of N90.4 trillion. This marked an impressive 35% surge from the N67 trillion recorded at the conclusion of 2022.

 

Access Bank and Zenith Bank lead top banks by asset base in H1 2023

The banks are led by Access Bank, with about N20.8 billion in total assets in the first half of 2023.

Zenith follows with N16 billion, First Bank with N14.1 billion, and UBA with N15.3 billion in the same period.

Read alsoUBA leads, GTB 7th: top 12 Nigerian banks with highest staff salaries payout in 2023

Others are Guaranty Trust Bank, with N8.5 billion; Fidelity Bank, with N5 billion; Stanbic IBTC, with N4.4 billion; FCMB, with N3.7 billion; and Sterling Bank, with N2.2 billion.

 

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