All Banks in Nigeria {2022 List}

Banks are financial institutions that provide a variety of financial services and products, such as managing deposits, lending, managing valuables, currency exchange, and venture banking.

Individual consumers, corporations, and a variety of institutional customers are among the clients of these banks.

In the banking sector, it is common for banks in Nigeria to offer financial services to its consumers in order to benefit them and to expand their customer base.

While the Central Bank of Nigeria (CBN) has granted these commercial banks operating licenses, they have built a good reputation in the banking business not only in Nigeria, but also internationally.

Check out: Top 10 Best Digital Banks in Nigeria

Commercial Banks with International Authorization in Nigeria

Access Bank Plc

Initially, a corporate bank, the association gained individual and business banking licenses from Nigeria’s International Commercial bank in 2012.

Best Nigerian banks - Access

Access Bank is directly one of the five biggest banks in Nigeria as far as assets, loans, deposits, and branch networks are concerned.

The merger of Access Bank and Diamond Bank on 1 April 2019 has made Access Bank the biggest bank in Africa.

At the end of its merger with Diamond Bank. Access Bank Plc, disclosed its new logo, flagging the initiation of another amplified banking institution. 

Access Bank plc is an enormous financial-administrations supplier.

As of December 2019, the bank had the value of an asset in the abundance of NGN7.15 trillion and shareholders’ equity esteemed at roughly US$2.3 billion.

They have over a thousand branches all over Nigeria and furthermore, utilize more than 7,500 specialists.

Related: How To Save Foreign Currency In A Nigerian Bank

Fidelity Bank Plc

Incorporated in 1987, Fidelity Bank started its banking operations in 1988 as a merchant bank. It became a commercial bank in 1999 and obtained its universal banking license two years later.

The bank offers a wide range of financial products and services to individual and corporate customers, with a strategic focus on retail and electronic banking, SMEs, and niche corporate banking. It currently oversees 250 business offices, 774 ATMs, and 4,046 POS terminals

First City Monument Bank Limited

First City Monument Bank Limited (FCMB) is a universal bank established on April 20, 1982. It is a flagship subsidiary of FCMB Group Plc, one of the ten largest financial services organizations in Nigeria. With over 3,400 employees, it serves 3.7 million customers through approximately 200 branches throughout the Federal Republic of Nigeria.

FCMB also has a presence in the United Kingdom through its FSA-authorised investment banking subsidiary, FCMB UK. As of June 30, 2017, the Group had total assets of N1.177 trillion (US$3.5 billion), customer deposits of N633.477 billion, loans of N649.199 billion and shareholders’ funds of N180.4 billion.

First Bank of Nigeria Limited

Due to the bank’s first-class services, this is without a doubt one of the top Nigerian banks.

It has been the nation’s leading financial incorporation administration provider for over 126 years.

It provides a broad range of retail and corporate financial services to more than 17 million customer accounts through more than 44,000 business locations.

Nigeria’s first and largest bank in terms of total deposits and gross earnings.

It has a vast network of over 750 business areas spread across Africa, the United Kingdom, and delegate offices in Abu Dhabi, Beijing, and Johannesburg, all of which are dedicated to acquiring exchange-related business between topographies.

The Nigerian banking industry is large, employing more than 7,000 people and serving a client base of more than 10 million people.

Retail Banking, Corporate Banking, Commercial Banking, and Public Sector Banking are the four main Strategic Business Units (SBUs) of FirstBank.

According to 2017 currency rates, the Bank’s assets totaled NGN5.2 trillion ($12.2 billion) as of December 2019.

The Bank’s earnings before tax for the year ended December 31, 2019, was approximately NGN10.2 billion.

The Banker magazine of the Financial Times Group has recognized FirstBank as “The Best Bank Brand in Nigeria” for the past five years – 2011, 2012, 2013, 2014, and 2015.

Guaranty Trust Holding Company Plc

In 1990, the bank was founded on the foundations of grandeur, verifiable skill, and best practices.

Since its inception, the bank has been able to report annual growth in the number of customers and major financial files due to its consistent delivery of innovative financial arrangements and exceptional client service.

GTBank received a number of national and international awards in 2016 for product and administration development as well as solid corporate governance.

For example, World Finance Magazine named it the Best Banking Group, The African Banker Magazine named it the Most Innovative African Bank, and Euromoney named it the Best Bank in Nigeria and Best Digital Bank in Africa.

The bank employs over 10,000 people and has a total asset value of 3.287 trillion Naira and shareholder support of 575.6 billion Naira.

Union Bank of Nigeria Plc

Union Bank of Nigeria, one of the oldest commercial banks in Nigeria was established in 1917 as a top financial institution to cater for small, medium sized companies, and major corporations. Ranked among the richest banks in the country with an asset base of $6.8 billion, UBN has cemented trust among Nigerians.

This bank is good for opening a savings account as a student or civil servant in the country. They also offer loan services to their customers with low interest rate. One thing I am sure of is that they are one of the highest paying banks in Nigeria this 2022.

With over 400 Union Bank branches scattered around every state in the country, you can easily walk into any of these branches and either open a current, savings or even domiciliary account. Their ATM service is also available 24/7.

Union Bank of Nigeria, one of the oldest commercial banks in Nigeria was established in 1917 as a top financial institution to cater for small, medium sized companies, and major corporations. Ranked among the richest banks in the country with an asset base of $6.8 billion, UBN has cemented trust among Nigerians.

This bank is good for opening a savings account as a student or civil servant in the country. They also offer loan services to their customers with low interest rate. One thing I am sure of is that they are one of the highest paying banks in Nigeria this 2022.

With over 400 Union Bank branches scattered around every state in the country, you can easily walk into any of these branches an either open a current, savings or even domiciliary account. Their ATM service is also available 24/7.

United Bank for Africa Plc

Founded in 1948 as the British and French Bank Limited (BFB), United Bank for Africa is one of the oldest banks in Nigeria. In 1970, it held an IPO, becoming the first Nigerian bank to list its shares on the Nigerian Stock Exchange. The company caters to retail, commercial, and corporate customers, providing a wide range of financial products and services.

United Bank employs about 10,500 staff and serves more than 14 million customers around the world. It operates a network of over 1,000 branches and touchpoints, 13,500 POS terminals, and 1,740 ATMs in Africa.

Zenith Bank Plc

Incorporated in 1990, Zenith Bank offers retail and SME banking, private banking, corporate and investment banking, foreign exchange, treasury, trade services, and other financial services. In 2004, it became a public limited liability company and was subsequently listed on the Nigerian Stock Exchange.

The bank currently serves more than 1.6 million customers and employs about 7,500 staff. It operates through a network of 436 branches, 177 cash centers, 2,042 ATMs, as well as subsidiaries and representative offices in Ghana, Gambia, South Africa, Sierra Leone, the United Kingdom, China, and UAE (Dubai).

See Also: How to get a Job at Chevron Nigeria 2022

Commercial Banks with National Authorization in Nigeria

Citibank Nigeria Limited

Citibank Nigeria Limited (CNL) was incorporated in Nigeria on May 2, 1984 and the oldest international bank in the country.

It provides a wide range of financial products and services to corporate and commercial customers, financial institutions and public sector organizations. It offers deposit and loan products, global transaction services, cash management, sales and trading, corporate finance and investment banking products.

The company was formerly known as Nigeria International Bank Ltd and changed its name to Citibank Nigeria in 2008. Today it employs about 300 people and operates 12 branches in Lagos, Abuja, Port Harcourt, Warri, Kano, Bonny, Aba, Lanlate and Ososa. As at December 31, 2016, it had over NGN 600 billion in total assets. Citibank Nigeria is owned by Citibank Overseas Investment Corporation, a subsidiary of Citibank N.A. (USA).

Ecobank Nigeria

Founded in 1986, Ecobank Nigeria is a subsidiary of the pan-African banking group, Ecobank Transnational Inc. The universal bank offers retail, corporate, wholesale, and transaction banking services, as well as capital markets and investment banking services.

Ecobank operates through three major units: Retail Banking, Wholesale Banking, and Treasury and Financial Institutions. It currently oversees more than 600 branches across Nigeria.

Heritage Bank Plc

Keystone Bank Limited

Keystone Bank is one of the new generation banks worth mentioning on this list. They offer banking services not only to large corporations, but to public institutions, SMEs and individuals.

Keystone Bank Limited was issued commercial banking license by the Central Bank of Nigeria (CBN). They also acquired Bank PHB after the CBN revoked their license, making this financial institution one of the largest financial services providers in Nigeria.

Polaris Bank Limited. The successor to Skye Bank Plc.

Polaris Bank is one of the largest Nigerian Banks with assets totaling about $4 billion. Based on customers reviews, they have proven to be among the top ten banks to open an account within Nigeria.

Formerly Skye Bank, this financial institution is currently quoted on the Nigerian Stock Exchange (NSE) and has presence in other African countries such as Sierra Leone, the Republic of Guinea, Angola and Liberia.

Stanbic IBTC Bank Plc

Stanbic IBTC Holdings usually alluded to as Stanbic IBTC, is a financial services holding company in Nigeria with backups in banking, stock financier, pension, and trustee businesses.

Stanbic IBTC Holdings is a subsidiary under the Standard Bank Group, a financial administration located situated in South Africa.

Standard Bank is one of the best banks in Nigeria through assets and earnings activities in 20 African nations and 13 nations outside Africa.

Standard Chartered

Sterling Bank Plc

As one of the best banks in Nigeria, their operations and services are divided into four categories:

ratings of banks in Nigeria

Retail Banking, Consumer Banking, Commercial Banking, and Corporate Banking which covers a few parts including Telecommunications, Power and Steel, Food and Beverages among others.

The bank operates from its head office at 20 Marina, Lagos.

It has a total of 179 branches the nation over with 7,853 POS terminals with a few vendors and 847 ATMs located all over Nigeria. Others are:

Titan Trust Bank Limited

Unity Bank Plc

Wema Bank Plc

Wema Bank plc is the oldest indigenous bank in the country. It provides a wide array of retail, corporate and SME banking services including current and savings accounts, personal and business loans, debit and credit cards, cash management, agricultural finance, internet and mobile banking, foreign exchange, payment solutions, investments as well as trade and financial advisory services.

The company commenced operations under the name of Agbomagbe Bank Limited in 1945. It was transformed into a public limited company in 1987 and was granted a universal banking license in 2001.

Currently, the Bank’s majority equity of 90% belongs to private and corporate investors, including staff, while Odu’a Investment Company owns the remaining 10%.

With approximately 1,000 employees, the Bank serves 1.6 million accounts and operates a network of about 140 branches, 190 ATMs and 3,270 PoS terminals mainly in South-West Nigeria, Lagos and Abuja.

The correspondent banks include HSBC, Citibank, Lloyds Bank, Standard Chartered Bank, Union Bank (London), ANZ Banking Group and BHF Bank (Frankfurt).

Commercial banks with Regional Authorization in Nigeria

Globus Bank Limited

Parallex Bank Limited

Providus Bank Limited

SunTrust Bank Nigeria Limited

Non-interest Banks in Nigeria

Jaiz Bank Plc

LOTUS Bank Limited

TAJBank Limited

Microfinance Banks in Nigeria

Mutual Trust Microfinance Bank

Rephidim Microfinance Bank

Shepherd Trust Microfinance Bank

Empire Trust Microfinance Bank

Finca Microfinance Bank Limited

Fina Trust Microfinance Bank

Accion Microfinance Bank

Peace Microfinance Bank

Infinity Microfinance Bank

Pearl Microfinance Bank Limited

Covenant Mirofinance Bank Ltd

Online-Only Microfinance Banks in Nigeria

Sparkle Bank

Kuda Bank

Rubies Bank

VFD MFB

Mint Finex MFB

Mkobo MFB

Merchant banks in Nigeria

Coronation Merchant Bank

FBNQuest Merchant Bank

FSDH Merchant Bank

Rand Merchant Bank

Nova Merchant Bank.

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