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Top 10 best banks in Nigeria 2022
Read all about the top 10 best banks in Nigeria 2022.
According to Wikipedia, Banks are financial institutions that provide a variety of financial services and products.
There are so many banks in Nigeria that offer these financial services, and trying to rank them is a daunting task, but we have done a little bit of research and come up with ten of the best banks that you can’t go wrong with.
These rankings are based on what determines a good bank, which depends on reliability, products, customer service, charges, interest rates and many other factors.
In this post, I am going to be writing about the top 10 best banks in Nigeria 2022. Remember to leave us a comment after you finish reading and also share with your friends on social media.
Let’s get into it then…
Guaranty trust bank (GTbank)
Guaranty Trust Bank Limited (GTBank) is a multinational financial institution that provides individuals, businesses, private and public institutions across Africa and the United Kingdom with a broad range of market-leading financial products and services.
Headquartered in Lagos, Nigeria and with subsidiaries in Cote D’Ivoire, Gambia, Ghana, Liberia, Kenya, Rwanda, Tanzania, Uganda, Sierra Leone and the United Kingdom, the Bank currently employs over 12,000 professionals and has Total assets and Shareholders’ Funds of ₦4.057trillion and ₦661.1Billion respectively.
Zenith Bank Plc was established in May 1990, and commenced operations in July of the same year as a commercial bank. The Bank became a public limited company on June 17, 2004 and was listed on the Nigerian Stock Exchange (NSE) on October 21, 2004 following a highly successful Initial Public Offering (IPO).
Zenith Bank Plc currently has a shareholder base of about one million and is Nigeria’s biggest bank by tier-1 capital. In 2013, the Bank listed $850 million worth of its shares at $6.80 each on the London Stock Exchange (LSE).
Headquartered in Lagos, Nigeria, Zenith Bank Plc has over 500 branches and business offices in prime commercial centres in all states of the federation and the Federal Capital Territory (FCT). In March 2007, Zenith Bank was licensed by the Financial Services Authority (FSA) of the United Kingdom to establish Zenith Bank (UK) Limited as the United Kingdom subsidiary of Zenith Bank Plc.
First Bank of Nigeria Limited (“FirstBank”), established in 1894, is the premier Bank in West Africa, Nigeria’s number one bank brand and the leading financial services solutions provider in Nigeria.
The Bank was founded by Sir Alfred Jones, a shipping magnate from Liverpool, England. With its head office originally in Liverpool, the Bank commenced business on a modest scale in Lagos, Nigeria under the name, Bank of British West Africa (BBWA).
Access Bank today is the largest bank in Nigeria and Africa’s leading bank by customer base. It is a full service commercial bank operating through a network of more than 600 branches and service outlets, spanning three continents, 12 countries and 36 million customers.
The Bank employs 28,000 thousand people in its operations in Nigeria, Sub Saharan Africa and the United Kingdom, with representative offices in China, Lebanon, India and the UAE. It continues to look at opportunities to build its network in global trade and payment centres, helping Africa to play its part on the world stage.
United bank of Africa (UBA)
UBA has a large footprint across the globe operating in 20 African countries: Republique du Benin, Burkina Faso, Cameroun, Congo Brazzaville, Congo DRC, Cote d’lvoire, Gabon, Ghana, Guinea, Kenya, Liberia, Mali, Mozambique, Nigeria, Senegal, Sierra Leone, Tanzania, Tchad, Uganda and Zambia. The Bank also operates in the United Kingdom, the United States of America and with presence in France.
Today, UBA is one of the largest financial services groups on the African continent. The bank provides corporate, commercial, SME, consumer and personal (retail) banking services to more than 25 million customers, served through diverse channels: over 1,000 business offices and customer touch points (2,669 ATMs, 87,223 PoS, robust online banking and mobile banking, social media etc). Additionally, UBA offers pension custody and related services.
Ecobank is committed to economic development across sub-Sahara Africa. In October 1985 the first Ecobank affiliate opened in Togo.
Despite the political upheaval of the 1980’s in Africa, and against all odds, the Ecobank Group opened branches in five African countries in 1988. From 1997 to 2001 the group’s coverage increased from five to twelve countries.
Today, the Ecobank Group is a world-class institution and a torchbearer for Africa. With a presence in 35 sub-Sahara African countries, the Ecobank brand is synonymous with banking in Africa.
Union bank Nigeria
Union Bank of Nigeria (“UBN”) was established in 1917 and is one of Nigeria’s long-standing and most respected financial institutions, offering a portfolio of banking services to individuals, SMEs, commercial and corporate clients. With a robust geographical network comprising more than 293 service centres and over 937+ ATMs spread across Nigeria.
Quoted on the Nigerian Stock Exchange (NSE), Fidelity Bank Plc began operations in 1988 as a Merchant Bank. In 1999, it converted to Commercial Banking and then became a Universal Bank in February 2001. The current enlarged Fidelity Bank is a result of the merger with the former FSB International Bank Plc and Manny Bank Plc in 2005.
Sterling Bank (formerly NAL Bank) has evolved from the nation’s pre-eminent investment banking institution to a fully-fledged commercial bank; and completed a merger with 4 other banks – Indo-Nigeria Merchant Bank, Magnum Trust Bank, NBM Bank and Trust Bank of Africa – as part of the 2006 consolidation of the Nigerian banking industry.
Wema Bank is the pioneer of Africa’s first fully digital bank, ALAT, and one of Nigeria’s most resilient banks. With decades of experience in the business of banking, the Bank has remained innovative in delivering value to its stakeholders.
The publicly quoted Nigerian company has successfully built a legacy of trust and resilience that has won it the loyalty of its customers. The Bank is constantly introducing products and services tailored to the needs of its customers at every stage of their lives. It is a proud partner to more than one million individuals, families and businesses across Nigeria, helping them achieve their personal and financial goals.
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