10 Largest Banks in Nigeria in 2024

Nigerian banks are not just monumental pillars of economic strength and stability. They are more than financial institutions; they are integral parts of daily life for millions, facilitating dreams and empowering businesses and individuals alike.

As we traverse through 2024, the landscape of Nigeria’s banking sector remains a beacon of growth and resilience, with a collective asset value nearing N150 trillion across 26 commercial banks.

The scale of a bank often reflects its capacity to serve a broader spectrum of needs, from basic savings accounts to sophisticated corporate services. With this in mind, understanding which banks lead the pack in terms of size can provide valuable insights into their potential to serve diverse customer needs.

Here’s a heartfelt exploration of the top 10 largest banks in Nigeria, offering a window into their foundations, services, and the people they serve.

Access Bank – N32.57 trillion

Leading the charge is Access Bank, an institution not just defined by its massive assets totaling N32.57 trillion but also by its profound impact on the lives of its customers.

With 737 branches, including 554 in Nigeria alone, Access Bank is a giant in the truest sense, providing robust financial services and a personal touch that makes each customer feel uniquely valued.

This bank goes beyond mere transactions to enrich lives, emphasizing its role as a community pillar both in Nigeria and across Africa.

United Bank for Africa – N25.37 trillion

United Bank for Africa (UBA) stands out with an impressive asset base of N25.37 trillion. With more than 1000 touchpoints globally, UBA isn’t just a financial institution; it’s a cultural icon that bridges Nigerian values with global financial practices.

Serving a vast network with 451 branches across Nigeria, UBA is celebrated for its commitment to excellence and its deep connection to the communities it serves, making every banking experience a personal journey of success.

Zenith Bank – N24.28 trillion

Zenith Bank, with assets totaling N24.28 trillion, is a testament to Nigerian entrepreneurial spirit and resilience. Operating 447 branches, of which 397 are in Nigeria, Zenith is at the forefront of financial innovation.

The bank’s commitment to providing exceptional service is reflected in its large customer base of over 33 million people, all who trust Zenith to guide their financial journeys with expertise and empathy.

First Bank of Nigeria Limited – N16.90 trillion

First Bank of Nigeria, a cornerstone of Nigerian banking with N16.9 trillion in assets, operates 595 branches throughout the country.

Known as the bank with the highest number of branches and serving over 41 million customers, First Bank is synonymous with reliability and comprehensive service. It stands as a beacon of stability and trust, deeply woven into the fabric of Nigerian society.

Ecobank Nigeria – N10.37 trillion

Ecobank, managing a vast network with assets worth N10.37 trillion, embodies the spirit of pan-African banking.

With 273 branches and 541 ATMs across Nigeria, Ecobank’s expansive reach ensures it serves as a gateway to financial services for millions, providing a seamless banking experience that prioritizes accessibility and customer satisfaction.

GT Bank Nigeria – N8.79 trillion

GT Bank, with an asset size of N8.79 trillion, redefines modern banking with its innovative services and customer-centric approach.

With 270 locations across Nigeria, including 237 branches and 33 eBranches, GT Bank caters to over 10 million customers who appreciate the bank’s commitment to efficient and enjoyable banking experiences.

Fidelity Bank – N6.23 trillion

Fidelity Bank, with assets worth N6.23 trillion and 249 branches, stands as a symbol of trust and integrity in the Nigerian banking sector.

Known for its tailored banking solutions and close-knit customer relations, Fidelity Bank makes every client feel at home, whether they’re saving for education or investing in a business.

Stanbic IBTC Bank – N4.97 trillion

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, boasts a robust asset base of N4.974 trillion and serves its clients through 130 branches across Nigeria.

Celebrated for its digital innovations and client-focused services, Stanbic IBTC makes banking accessible and straightforward, catering to the needs of a diverse clientele.

First City Monument Bank Limited – N3.78 trillion

First City Monument Bank (FCMB) holds assets totaling N3.78 trillion and serves 8.7 million customers from 203 branches.

Founded on the principles of entrepreneurship and innovation, FCMB continues to expand its services, emphasizing customer relations and financial inclusivity across Nigeria.

Union Bank of Nigeria – N3.65 trillion

Union Bank of Nigeria, with a heritage dating back to 1917, manages assets worth N3.65 trillion and operates 258 branches nationwide.

As the second oldest bank in Nigeria, Union Bank combines tradition with modern financial services, providing a reliable and enriching banking experience for its 7.8 million customers.