What Are The Best And Bigger Banks In Nigeria?
The numerous banks in Nigeria make it difficult for Nigerians to choose a good bank that would be suitable for their financial needs. However, in this article, you will be reading about the best and biggest banks in Nigeria. Under each of the mentioned banks, you would be reading about facts that make them one of the best.
What are the best and bigger banks in Nigeria?
1. Zenith Bank
Zenith Bank ranks high among the best and biggest banks in Nigeria. This is because of its huge customer base and large workforce. These two factors have helped it remain relevant and to satisfy the needs of the customers.
Statistics have also favored the bank in the claim of being one of the best banks in Nigeria. In 2022, the assets of Zenith Bank experienced an increase of 30% which makes it one of the largest in the country.
2. United Bank For Africa (UBA)
The United Bank For Africa (UBA) is also among the top banks in Nigeria. UBA has been in existence for several years and has built a strong reputation among Nigerians. The bank is also regarded as Africa’s Global Bank in terms of how it operates.
UBA has established its branches in 20 countries in Africa. It has also extended its reach to the US, London, and Paris. In 2022, it rose in equity with a 14.6 increase from the previous year. It has grown to become one of the biggest and best banks in Nigeria.
3. Access Bank
Access Bank is not only one of the most known banks in Nigeria but is one of the best in Nigeria. It has established its name in the banking sector. The bank boasts one of the latest customer bases in Nigeria.
Access Bank is based in Nigeria but has branches in other African countries. It also has branches in the UK too. In 2022, Access Bank’s total assets grew to 10.68 trillion which is a 28.9% increase from the previous year. Access Bank has become one of the most used banks in Nigeria. With Access Bank, new accounts are opened every day under different packages of the bank.
4. Stanbic IBTC Bank
Stanbic IBTC Bank ranks high among the best banks in Nigeria. The Stanbic IBTC Bank has become one of Nigeria’s most used banks for transactions because of the reliability it offers to its customers.
It has proven to be a great bank that pensioners have trusted to keep their future safe. According to statistics, the bank’s performance has been one of the best in Nigeria. In 2022, the bank experienced a 10.6% increase in assets compared to the previous year. Also, in equity, the bank has an 8% increase from the previous year.
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5. Union Bank
Union Bank is a top bank in Nigeria with a large workforce and a huge customer base. Union Bank has been in existence for years and has proven to be a force in the banking industry.
The bank has done great in the aspect of asset accumulation and equity. Union Bank experienced a 7.7% increase in assets and equity, they experienced an 11.3% from the previous year.
6. Ecobank
Ecobank is positioned among the top-rated banks in Nigeria. Their exceptional mode of operation makes it rank high among other banks in Nigeria. Since their inception, they have made sure Nigerians enjoy financial transactions.
In 2022, the total assets of Ecobank rose by 14% to 11.69 trillion naira. This made it one of the largest asset increases by a bank in Nigeria. Also in terms of equity, it grew by 1.8% in the same period as the asset. By these statistics, it is easy to calculate that Ecobank is one of the best banks in Nigeria.
7. Guaranty Trust Holding Company
The Guaranty Trust Holding Company (GTCO) is among the best and biggest banks in Nigeria. They have had ups and downs in the banking industry, but have stood tall despite the obstacles. They have been in existence for years helping customers make easy and stress-free transactions.
Guaranty Trust Holding Company rose in equity and asset accumulation pointing to the fact that they are one of the biggest banks in Africa. In 2022, the assets rose by 18.6% in Nigeria. In equity, it rose from 5.4% and is still looking like it will go higher again.
FAQ
What are the top 5 big banks in Nigeria?
The top 5 big banks in Nigeria include GT Bank, UBA, Zenith Bank, Access Bank, and FBN.
Which bank is No. 1 in Nigeria?
The No 1 in Nigeria is Zenith Bank. In Africa, they are recognized as big banks in all aspects of the banking industry.
What is the most successful bank in Nigeria?
According to the 2021 rankings, the most successful banks in Nigeria are Zenith Bank and GT Bank.
What are the top 3 biggest banks in Nigeria?
The top 3 biggest banks in Nigeria include Access Bank, Zenith Bank, and FBN Holdings.
Is First Bank a big bank?
First Bank is one of the largest banks in Nigeria in all ramifications.
Conclusion
In no particular order, you’ve read the biggest and best banks in Nigeria. You’ve seen what makes them the best: their asset and equity. So, when next you want to open a bank account, feel free to use any of the banks for the best services.
