In this write-up, you will learn about the top ten banks in Nigeria and their net worth. This is one of the best ways to determine the strength of your bank and know if your bank is healthy or not. There are currently up to 22 commercials banks in Nigeria.
Remember Savannah Bank and the millions of people who suddenly became paupers overnight, or the customers who committed suicide when Savannah Bank closed down. The Central Bank of Nigeria, CBN, had closed down the bank in 2002 as it did not have enough assets to meet its liability.
Therefore, before you open an account with any bank, it is imperative you know your bank is healthy enough, and be sure will not likely leave you in the lurch due to liquidity issues. Is your bank among the best in Nigeria as at today? Continue reading to find out.
List of the Best Top 10 Banks in Nigeria and their Net Worth
1. Zenith Bank
This is the best bank in Nigeria today, and the top on this list with total assets of N3.189 trillion. Total consumer deposit amount to N2.288 trillion Naira, making it one of the contributory factors to the wealth of the bank. Zenith Bank is so very huge, and has got a strong asset base that it cannot fold up. And if it does fold up, due to bad management practices (which is VERY UNLIKELY). You can be sure the CBN will definitely come to its rescue.
2. First Bank of Nigeria
The bank has been around since 1894, and it has total assets of N3.172 trillion aside from its operations in Nigeria, the bank also has branches in foreign countries, like the United Kingdom. They equally operate in several African countries. They are the 2nd among the best banks in Nigeria
3. Guaranty Trust Bank
This is among the most popular banks in the country today. It has a net worth of N2.102 trillion, qualifying it for the third position among the best banks in Nigeria.
4. Access Bank
This bank is relatively young; it started operation in 1989. Despite being a young bank, it has up to 300 branches across the country already. Its net worth is N1.9 trillion, making it the 4th best banks in Nigeria. It has its headquarters in Lagos, Nigeria and it is a world class bank in all sense of the word.
5. Diamond bank
The bank offers full banking services and has a net worth of N1.519 trillion. It has nationwide coverage and is known to offer various products and services that consumers find attractive. They occupy the 5th place among the best banks in the country.
6. Ecobank Nigeria
This is yet another strong bank in Nigeria today. The bank is relatively young; it is just about 31 years old. The bank is a subsidiary of Ecobank Transnational Inc. as at today, its net worth is N1.32 trillion, qualifying it for the 6th position among the best banks in Nigeria.
7. Union Bank of Nigeria
This is one of the oldest banks in Nigeria; it had been in operation since 1917. As at today, their total asset is worth N1.049 trillion. Aside from their operations in Nigeria, they also operate in several other African countries. They have up to 405 branches across the country and occupy the 7th position among the best banks in Nigeria.
8. Fidelity Bank Nigeria
Their net worth is up to N1.043 trillion, which qualifies them for the 8th position among the best banks in Nigeria. Customer deposit is up to N752.2 billion; this contributes just a fraction to the total wealth of this bank.
9. Sterling Bank Plc
It is a national commercial bank in Nigeria, and it has a net worth of N707 billion. The bank is offering a full range of banking services, and their major customers are NGOs, government agencies, businesses, and individuals. They occupy the 9th position among the best banks in Nigeria.
10. First City Monument Bank
It occupies the 10th position among the 25 best banks in Nigeria, which is an indication that it is one of the best banks in the country. The bank has a net worth of N614.2 billion. It is a member of the First City Group, a conglomeration. The bank is owned by Otunba Subomi.
In conclusion, this wraps up the list of the best top 10 banks in Nigeria. Banks included in the list above have proven to offer exceptional services to their customers, displayed strong professionalism in their dealings and also have a strong asset base. As a customer, you are sure your bank will not go under, and your funds are 100% safe.
Therefore, it is imperative you know your bank is healthy enough, and will not likely leave you in the lurch due to liquidity issues. Is your bank among the best in Nigeria as at today?