top 10 commercial banks in nigeria

Top 10 Commercial Banks In Nigeria

The strength of a bank is signaled by its profitability, international recognition, customer deposits, shareholder’ funds, earnings, and total assets. Commercial banks in Nigeria are being supervised by the Central Bank of Nigeria to ensure that they deliver high standards of banking, improve payment systems and promote financial stability within the industry. There are best commercial banks in Nigeria that have been able to satisfy the requirements to offer top-notch services to customers within the country.

So, if you are looking out for the best commercial banks to fulfill your financial obligations or probably to help kickstart your banking career, here are the top 10+ best commercial banks in Nigeria to consider:


Zenith Bank

Zenith Bank was founded in May 1990 by Jim Ovia, and has since grown to become one of the best commercial banks in Nigeria. In 1990, shareholders’ funds were N20 million, and at the end of 2016, it has grown massively to a whopping N704.50 billion. The bank has steadily thrived on brand equity, excellence of service, corporate culture of professionalism, and brand equity.

The headquarters of Zenith Bank is in Lagos, Nigeria. Branches and business offices are situated in various commercial spots in diverse cities around the states of the Nigerian federation, including the Federal Capital Territory (FCT). There are also subsidiaries of the bank in several other countries, including Gambia, Ghana, Sierra Leone, and a representative office in the People’s Republic of China.

Zenith Bank also got licensed by the Financial Services Authority (FSA) of the United Kingdom in 2007, to put up a financial institution as the UK subsidiary of Zenith Bank Plc.

First Bank of Nigeria

FirstBank of Nigeria has received the “Most Valuable Bank Brand in Nigeria” six consecutive times – between 2011 and 2016 – by ‘The Banker Magazine’ of the Financial Times Group. The bank has grown in its relationship with its millions of customers since its creation in 1894. It has also led to the financing of private investment in the development of infrastructure within the Nigerian economy by being positioned to offer solutions in the Federal Government’s privatization and commercial schemes.

For fifteen years, the bank also received “Best Bank In Nigeria” by Global Finance, and for eight consecutive years (between 2011 and 2018), it received the “Best Retail Bank In Nigeria” by the Asian Banker International Excellence in Retail Financial Services Awards.

Related:  How To Transfer Money Using Gtbank Transfer Code

FBN is a leading West African Bank that has impacted over 17 million lives, offering a comprehensive range of corporate and retail financial services through about 60,000 business outlets.

Access Bank

Access Bank was licensed in 1988 by the apex bank. It operates through Business Banking, Corporate Banking, Personal Banking, Commercial Banking, and Investment Banking. The delivery of sustainable economic growth is made through their wide range of professional services for environmental responsibility, profitability, and social relevance.

It prides itself on a strong corporate culture and an exceptional management team. Customers’ needs are put forward first in their organizational goals to bring about a brighter future for society.

Access bank focuses on offering top-level services, products, and experiences. Their efforts have earned them several awards. The most recent ones include the ‘Best Digital Bank in Africa 2020’ by Asian Banker Awards, “Africa’s Best Bank for SMEs 2020” by Euromoney, “Bank of the Decade” THISDAY ‘Editor’s Choice, “Best Mobile Banking App” by Digital Banker Africa Awards, “Best Bank Nigeria” by International Investors Awards, and “Sustainable Bank of the Year, Africa” by International Investors Awards among several other awards.

United Bank For Africa

United Bank For Africa is one of Africa’s oldest and top banks. It was established in 1949 as the British and French Bank Limited (BFB). It has ever since instituted a huge footprint across the African continent and the world and has become one of the largest financial services groups in Africa.

Aside from Nigeria, UBA is currently operating in Kenya, Cameroun, Mali, Guinea, Republique du Benin, Congo Brazzaville, Côte d’Ivoire, Zambia, Gabon, Congo DRC, Uganda, Tanzania, Liberia, Burkina Faso, Senegal, Sierra Leone, Tchad, Mozambique, Ghana, Paris, the United States, and the United Kingdom.

The bank offers financial services to over 18 million customers through numerous channels. Expertise has been consistently shown in major sectors of Africa economies such as Agriculture and Commodity/Export, Oil and Gas, and Infrastructure Finance.

Guaranty Trust Bank

Guaranty Trust Bank (GTBank) began operations in 1991 after being founded a year before. The bank provides complete financial services to customers including investment banking, asset management, corporate, online/internet banking, and retail.

The bank is a multinational financial institution that provides a wide range of financial services and products, has its headquarters in Lagos, Nigeria. It also has subsidiaries in Ghana, Rwanda, Côte D’Ivoire, Uganda, Liberia, Sierra Leone, Gambia, Tanzania, Kenya, and the United Kingdom. Over 12,000 professionals are being employed by the company with N4.057 trillion in assets base and Shareholders’ funds N661.1 billion

Customers and communities are assured the best services based on their efficient management, strong service culture, top-level corporate governance standards, with consistent annual growth in profitability and customer base.

Related:  How to Open a Verified PayPal Business Account in Nigeria

Fidelity Bank

Fidelity Bank is one of the best commercial banks in Nigeria and currently serving over 5 million customers with more continuing to join. The bank commenced operation in 1988 as a merchant bank, but later transformed into a full-fledged commercial bank and then became a Universal Bank in 2001.

The bank merged with Manny Bank Plc and FSB International Bank Plc, thereby leading to an improved and bigger Fidelity Bank Plc. The bank also focused on helping small and medium businesses get the funds required to help their venture. It also employs a digital-based retail banking strategy which has resulted in an increase in the number of savers.

The bank is everywhere in Nigeria but seems to have more branches in the northern states of Nigeria. However, it is gradually working to gain momentum in every state in Nigeria.

Stanbic IBTC Bank

Stanbic IBTC Bank currently has more than 180 branches situated in diverse cities across Nigeria including its various online banking platforms. Customers can benefit from the different accounts they offer which include savings, current and domiciliary accounts; MasterCard debit cards, personal loans, home loans, Visa credit cards, vehicle, and asset finance, internet banking, *909# MobileMoney, and small and medium scale enterprise (SME) loans.

The bank is a member of a registered credit provider and an authorized financial service called Standard Bank Group. They cater for businesses and private individuals via well-structured retail and business banking products, while also employing sophisticated technology to provide self-service channels to make convenient banking available to customers.

Union Bank Nigeria

Union Bank of Nigeria became an established institution in 1917. It has survived years of economical storms to remain one of the most treasured financial institutions in the country. It has a healthy geographical network that is made up of over 934 ATMs situated across the country and more than 284 service centres.

The bank is strategically positioned to provide help to individuals, families, and businesses. It kicked off as a complete service bank that addresses the needs of retail and commercial demands of private individuals, micro, small and medium-sized organizations, and also huge corporations.
UBN projects a mission to improve the lives of people through the provision of smart and simple solutions that guarantee the best experience every time.

Wema Bank

Wema Bank Plc is a bank licensed by the CBN. It was founded in 1945, and by 2019, the bank operated the biggest digital banking platform (ALAT) in the whole of Nigeria. The platform is currently being accessed in all states of the federation.

Wema Bank is also Nigeria’s longest surviving indigenous bank and in 1987, it was converted to a limited liability company. The bank operates over 150 branches and service stations supported by a healthy ICT platform system in the country. It is known for its high level of responsibility and commitment to financial productivity of their customers.

Related:  Jaiz Bank Customer Care Phone Number, Email, Whatsapp & Live Chat

Polaris Bank

Polaris Bank was founded in 2018 by the Nigerian Apex bank, Central Bank of Nigeria to provide Nigeria communities with commercial banking services. The bank currently has over 350 branches in diverse cities around the country that deliver high-quality customer experience, leveraging on top Information Communication Technology (ICT).

The organization maintains an essential role in the Nigerian banking industry to offer simple, secure, and convenient banking services to customers and focuses on proffering ICT solutions across a wide range of service delivery avenues which include POS, mobile banking, online platforms, and ATMs.

Keystone Bank

Keystone Bank harnesses the best practices to offer reliable and convenient solutions and provides top-level solutions to associates and customers. The bank’s eBanking provides users with innovative and customized solutions, services, and products to meet customers’ needs wherever they are.

The various harnessed channels by the bank certify customers’ complete experience when transacting and relating their banking business in a secure and convenient manner.

Keystone Bank delivers a wide range of services to numerous companies. From savings and checking accounts of businesses, they provide a range of cash management solutions and finance options. Even Nigerians in the diaspora can benefit from the services offered by the bank. They can open and operate a bank account from their resident countries without returning home, by harnessing their bouquet of Nigerians in the Diaspora Account (NIDA).

First City Monument Bank (FCMB)

FCMB Limited is a member of FCMB Groups Plc which is one of the best commercial financial institutions in Nigeria. It has consistently distinguished itself in providing customers with excellent services while also improving the development and attainment of businesses and personal goals of their customers.

Some of the recent awards garnered by the bank include “Best SME Bank in Africa 2020” by Asian Banker Middle East and Africa Regional Awards, “CSR Bank of the Year in providing Quality Education to Children” by Tony Okpe’s Foundation, “Outstanding SME Supporting Bank of the Year 2020” by Marketing Edge Awards and Summit, and “CSR Bank of the Year, Investment in Education and Youth Empowerment” by CSR reporters.


Ecobank is a pan-African banking system that offers a wide range of financial services across 36 countries of the African continent. It is a top regional banking group in both Central Africa and West Africa and upholds subsidiaries in Southern and Eastern Africa.

The bank offers financial products and services such as diverse kinds of loans, a wide range of debit, credit, and prepaid cards, a selection of savings accounts to grow your earnings, and different current accounts which include a diaspora account for Nigerians abroad.

Leave a Reply


You cannot copy content of this page