For the past ten years, Nigerian banks have been doing extremely well, even well enough to compete on the global stage. The big banks in Nigeria are among the biggest and best in Africa. Here we present to you the current richest banks in Nigeria and how much they worth.
List Of Richest Bank In Nigeria
* Union Bank
Union Bank is a large commercial bank founded in 1917 as Colonial Bank. The bank maintains a vast network of interconnected branches in all Nigerian states.
2015 Performance
gross earnings of N104.4 billion
Bank Profit Before Tax N10.2 billion
Customers deposits N55.7 billion
* StanbicIBTC
The Standard Bank Group merged its Nigerian operations, Stanbic Bank Nigeria with that of IBTC Chartered Bank PLC. The merger, by way of the first ever tender offer in Nigeria and a $525 million FDI, the largest in Nigerian financial history, gave birth to a new entity now known as Stanbic IBTC Bank PLC which became part of the Standard Bank Group. Total assets earning in 2015 N1trillion.
2015 Performance
Gross earnings of N104.4 billion.
profit after tax N13.5 billion.
Total assets N1trillion.
Profit after tax declined by 46 per cent to N13.5 billion compared with N25.2 billion earned in 2014.
Gross loans and advances to customers N418.3 billion.
* Skye Bank
Skye Bank, is a commercial bank established in 2006. the bank maintains subsidiaries in Sierra Leone, the Gambia, the Republic of Guinea, Liberia, Angola and Equatorial Guinea. Total assets earning in 2015 N1.28 trillion.
2015 Performance
Profit before tax – N10.7 billion
customers deposit – 837.68 billion
Net interest income – N35.45 billion
Total assets – N1.28 trillion
* ECO Bank
Ecobank is a commercial bank in Nigeria established in 1986.The bank acquired 100% of the shareholding in Oceanic Bank and operates in 600 branches across Nigeria. Eco Bank total assets in 2015 $24.671 billion.
2015 Performance
Total equity – $2.7 billion
Total assets $24.671 billion
* GTBANK
Guaranty Trust Bank plc was founded 17 January 1990 and on 26 July 2007 GTBank became the very first subsaharan bank. GTbank is the first Nigerian joint stock company to be listed on London Stock. Total assets in 2015 N3.15 Trillion.
2015 Performance
Customer deposits of N1.69 Trillion
Shareholders’ Funds of N357.59 Billion
Total Assets and Contingents of N3.15 Trillion
* Zenith Bank
Zenith Bank was founded by Jim Ovia in May 1990. The bank headquarter is in Lagos and has over 500 branches in Nigeria and in other countries. Their total assets in 2015 was N3.94trillion.
2015 Performance
Gross Earnings: N113.32bn
Net Interest Income: N42.63bn
Customer Deposit: N2.68tn
Total Assets: N3.94trillion
*First Bank
First Bank was established in 1894 and has over 750 branches in Nigeria and in some other countries. The Bank has been named “The Best Bank Brand in Nigeria” four times in a row 2011-2014. First Bank total assets in 2014 N4.3 trillion.
2014 Performance
Total assets Dec 2014: N4.3 trillion
Gross earnings N390.0billion
Customer deposits of N3.1 trillion
Net interest income of N192.9 billion