Top 10 Best Banks in Nigeria 2018 (Latest Ranking)

Check Out The Top 10 Best Banks in Nigeria 2017/2018 (Latest Ranking) And Why they Rock!

Banking system in Nigerian has changed tremendously from how it use to be back in those days. With a lot of new banks springing up everyday it makes the banking environment very competitive and survivor of the fittest is the order of the day . For banks to succeed these days, they have to be equal to the task .

We are going to introduce you to some cool banks in Nigerian and give you the reason why they rock. On this page, we are going to share with you the Top 10 Best Banks in Nigeria obviously the biggest and highest paying banks in Nigeria 2018. Some of the indicators of bank reputation and strength are profitability, shareholders funds, total assets, earnings,customer deposits and its international reckoning.

Our quest for today is to get you acquainted with the Best Banks in Nigeria, Top 10 List (2018 Latest Ranking). Starting a bank is easy but maintaining it existence through rough times is what matters, it takes a lot of careful planning and restructuring to stand the test of time in the competitive environment. Several Nigerian banks has fold up and some had to merge in order to escape the rot of the hard economy hitting mercilessly on country.

Using the factors listed in the second paragraph, we find the banks listed below as the best banks in Nigeria 2017, the latest top 10 ranking . We are also going to disclosing the figures from the latest published accounts, 2013,2014 ranking published by The Banker Magazine of the Financial Times Group London.


1. Zenith Bank Nigeria

The best bank in Nigeria as at 2018 is Zenith Bank Nigeria. The bank was established in the year 1990 and officially gained recognition in 2004 . Zenith Bank is a profound Nigerian bank securing the number 293 spot on the world list with a capital base of $3.0162 billion. It is worthy to learn that it is number 6 in Africa.

More Break Down

World Ranking: 293rd out of world’s first 1000 banks
Profit Before Tax PBT): 59 billion
Shareholders Funds: 3 billion
Total Assets: 14 trillion
Gross Earnings:4 billion
Customer Deposits:27 trillion

2. Guaranty Trust Bank (GTB)

If i am sentimental in this, then i will take Guaranty Trust Bank a.k.a GTbank as the best bank in Nigeria that is my personal judgement which is not intended to offend your opinion. GTbank is 4th on the list and 13th Best bank in Africa. It is the second richest bank in Nigeria with assets worth of N2.102 trillions. It ranks 415th in the world with a Customer Deposit is 44 billion and Total Assets is 1 trillion.

More Break Down

  • World Ranking: 415th out of world’s first 1000 banks
  • Profit Before Tax (PBT): 09 billion;
  • Shareholders Funds: 35 billion shareholders
  • Total Assets: 1 trillion
  • Gross Earnings: N242 billion
  • Customer Deposits: 44 trillion

3. First Bank of Nigeria

As it name suggest, this is the very first bank in Nigeria . The bank was establish in the year 1894. The third richest bank in the country is First Bank of Nigeria and one of the top biggest banks . It has branches in other countries like South Africa , France , United Kingdom and China . The total deposit of First Bank is N2.57 trillion , Total Assets is 25 trillion, Gross Earnings is 44 billion and Shareholders Funds 71 billion. On this list, First bank is ranked 3rd and 10th in Africa.

More Break Down

  • Customer Deposits; N2.57 trillion
  • Gross Earnings: 44 billion
  • Total Assets:25 trillion
  • Shareholders Funds: 71 billion
  • Profit Before Tax (PBT): 85 billion
  • World Ranking: 424th biggest bank in the world


4. Access Bank Plc.

The 4th best bank in Nigeria 2017 is Access Bank . Founded in the year 1989, witnessed a lot of transformation to earn reputation . Access Bank Plc now dine with the top banks in Nigeria, a spot they have been able to secure as a result of their good work. Access Bank notably has 309 branches worldwide and 1600 ATMs . With a customer Deposit is 33 trillion,Total Assets is 8 trillion, Gross earnings is N207 billion . Obviously, Access Bank Plc is the 5th on the list and number 15th African.

More Break Down

  • Customer Deposits: 33 trillion
  • Gross Earnings: N207 billion
  • Total Assets: 8 trillion in total assets
  • Shareholders Funds: 5 billion
  • Profit Before Tax (PBT): 9 billion
  • World Ranking: 532nd out of the first 1000 banks in the world


5. United Bank for Africa, UBA

This is another spectacular and phenomenal bank in Nigeria. It has been to stand united from it inception to become one of the most successful banks in the country. UBA ranks 5th in Nigeria on our list and you may find it break down on more facts about the bank below.

More Break Down

  • Customer Deposits: 8 trillion
  • Gross Earnings: N264 billion
  • Total Assets: 22 trillion
  • Shareholders Funds: 54 billion
  • Profit Before Tax (PBT): 84 billion
  • World Ranking: 539th position in the world


6. Diamond Bank

This is a universal bank that targets billions of citizens across the globe. Diamond Bank is not an indigenous bank like the rest on this list, it is a universal bank that serves billions of people around the world. It total asset is around N1.519 trillion, a customer deposite of 206 billion; Gross Earnings is N181 billion gross earning and Shareholder Funds is 85 billion.

More Break Down

  • Profit Before Tax (PBT): 1 billion
  • Shareholders Funds: 85 billion
  • Total Assets: 5 trillion
  • Gross Earnings: N181 billion gross earnings
  • Customer Deposits: 206 billion


7. Fidelity Bank

Fidelity Bank officially started as a Mortgage Bank which can be traced back to the year 1988. In 1990, it was converted to a commercial bank . It customer Deposit stood around N806 billion , PBT is 08 billion, Gross Earning is N127 billion and Total Assets is N0.8 billion . Fidelity Bank is one of the most innovative banks in Nigeria trying to withstand the current harsh Nigerian economy and they are succeeding on that.

More Break Down

  • Customer Deposits: N806 billion
  • Gross Earnings: N127 billion
  • Total Assets: 08 trillion
  • Shareholders Funds: N167 billion
  • Profit Before Tax (PBT): 08 billion
  • World Ranking: 622 of the world’s first 1000 banks


8. Ecobank Nigeria

I won’t give unnecessary credit to any bank trust me, Ecobank Nigeria use to be one of the richest and biggest bank in Nigeria some years ago — but i think they have been failing recently. The bank was established in the year 1986. They acquired Oceanic bank or should i say they merged. Their logo is Pan African Bank . Our recent findings states that Ecobank is worth N1.32 trillion .

More Break Down

  • Customer Deposits: 118 trillion
  • Gross Earnings: N177 billion
  • Total assets: N1.146 trillion
  • Shareholders Funds: N41 billion
  • Profit Before Tax (PBT): 53 billion


9. Skye Bank

On the number nine spot we have Skye Bank which is obviously one of the best banks in Nigeria. I think there are chances that Skye Bank will move upward on this list in time to come due to periodic upgrade. Their relentless effort has brought them this far . Their current asset worth is $ 5.679 billion,Gross Earnings is N127 billion,Customer Deposit is N996 billion and Total Assets is 11 trillion .

More Break Down

  • Customer Deposits: N996 billion
  • Gross Earnings: N127 billion
  • Total Assets: 11 trillion
  • Shareholders Funds: N94 billion
  • Profit Before Tax (PBT): 13 billion


10. Union Bank

On the last spot we have Union Bank of Nigeria as one of the best Nigerian banks. Union Bank is the second international bank on this list , it is one of the oldest Banks in the county today that is still very much relevant. They have satellite offices in Johannesburg , Benin Republic , London and other major African countries . Their assets stood around $6.130 billion last time we checked .

It took us time and little bit of stress to put this article together for you. I’II appreciate it if you share this post via the share buttons located after the jump.



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