Top 10 Richest Bank in Nigeria in 2024

Ayeni Tolulope
November 16, 2024

We can say the richest banks in Nigeria are also the largest in the country, even the government wants more banks with strong financial backing.

Toping the list of richest banks in Nigeria today 2024 includes, Access Bank, UBA, First Bank, UBA and so on. This list is updated by their official valuation and gives accurate data.

The Nigerian banking sector is highly regulated by the CBN, despite the influx of Fintechs via the Microfinance law, commercial banks still remain relevant and sustainable in the country.

Many would like to know more about richest banks in the country, to understand where they can get investments and loans from.

Richest banks in Nigeria today

Here is the updated list of the top 10 richest banks in Nigeria this year 2024. This list is to help those who wish to know which Nigerian bank is the strongest financially.

Let’s go straight into this list without any further delay and story.

Access Bank – Total Assets – ₦32.57 trillion: Taking the crown as the richest bank in Nigeria, Access Bank has expanded its assets to a remarkable ₦32.57 trillion. Established in 1989, this bank has not only grown nationally but has also become a significant financial institution across Africa.
United Bank for Africa (UBA) – Total Assets – ₦25.37 trillion: UBA secures the second position with a total asset size of ₦25.37 trillion. This bank, with its extensive network across 24 countries, continues to be a powerhouse in the financial sector.
Zenith Bank – Total Assets – ₦24.28 trillion: Zenith Bank, once the richest, now holds the third spot with assets of ₦24.28 trillion. Founded in 1990, it remains one of Nigeria’s top financial institutions.
First Bank of Nigeria – Total Assets – ₦16.90 trillion: Reaffirming its historical significance, First Bank of Nigeria, established in 1894, has assets totaling ₦16.9 trillion, securing the fourth position.
Ecobank Nigeria – Total Assets – ₦10.37 trillion: Ecobank Nigeria, with its assets at ₦10.37 trillion, continues to be a major player, especially with its widespread presence in Africa since its inception in 1986.
GT Bank Nigeria – Total Assets – ₦8.79 trillion: GT Bank, with a total asset size of ₦8.79 trillion, maintains its strong market position, known for its innovative financial solutions.
Fidelity Bank – Total Assets – ₦6.23 trillion: Fidelity Bank’s assets have grown to ₦6.23 trillion, demonstrating significant growth since 1988 when it was established.
Stanbic IBTC Bank – Total Assets – ₦4.97 trillion: Stanbic IBTC, part of the Standard Bank Group, now stands as the eighth richest bank with assets amounting to ₦4.97 trillion.
First City Monument Bank (FCMB) – Total Assets – ₦3.78 trillion: FCMB, with its assets at ₦3.78 trillion, continues to serve its customer base, maintaining a significant presence among Nigeria’s top banks.
Union Bank of Nigeria – Total Assets – ₦3.65 trillion: Concluding the list in tenth place, Union Bank, with a rich history dating back to 1917, has assets of ₦3.65 trillion, reflecting its enduring legacy in Nigerian banking.