List of commercial banks In Nigeria 2022

Read all about the list of commercial banks in Nigeria 2022.

In modern days banking has become an activity we cannot avoid because of the day-to-day transactions we carry out either directly or indirectly. It’s either you’re visiting the bank to save money or to pay certain bills, remita, etc, or in some cases visit the banks to make complaints as it pertains to our bank account.

Commercial Banks are banks that allow us to perform various transactions and more for the sake of this article we will consider what are commercial Banks as well as their functions and also includes the list of commercial Banks in Nigeria as of 2022.

What are commercial Banks?

A commercial bank can be seen as a financial institution that aims at making a profit as well as offering financial services to the public such as electronic transfer of funds, loans, and deposits. Commercial banks also give room to the public to make deposits as well as perform other banking activities including making investments.

Commercial Banks play a very important role in the economy of each country including Nigeria. Most commercial banks are regulated and licensed by the Central Bank of Nigeria; they also play a role in encouraging the growth and development of entrepreneurs by granting small business loans to enable them to be financially capable of carrying out their various businesses.

Read my post on the richest banks in Nigeria

Functions of commercial banks

There are various functions that commercial banks offer to the general public and each of these functions will be widely explained in details

• Encourage savings

Commercial banks take savings as one of their main functions, which is the act of crediting funds into your account over a while depending on what the customer wants. It can be a long or short term kind of saving

• Provision of current account

These are accounts that are provided to customers to deposit as well as make withdrawals at any due time and also provide opportunities over a specified period time to private or public businesses

• Provision Of Loans

They offer loans to their customers with little or no interest to encourage customers to make investments or sort out emergencies or carry out business opportunities that may yield profit

• Foreign Exchange

Commercial banks also engage in providing foreign exchange either to individuals or organizations, they can exchange foreign currency at a certain rate depending on the current price and it is cheaper than other black marketers  selling such currencies

• Locker facilities

Local facilities are provided by commercial banks, this means creating an avenue to store valuables at the bank to avoid theft or loss. Valuables may include jewelry certificates etc

• Securities exchange

This is the act of trading in bonds and securities by selling in smaller units to individuals or businesses to keep over a long period, where such users can appreciate and profit made examples may include shares

List of commercial banks in Nigeria

There are over 22 commercial banks in Nigeria and we will be giving out the names, years of registration, and addresses of the headquarters

• Access Bank Plc

This Commercial Bank has been registered since 1/17/1990. It was Formerly known as Access Bank Plc with its headquarters at

1665, Oyin Jolayemi Street, Victoria Island

Victoria Island, LAG, NGN.

• Citibank Nigeria Limited

Commercial Bank registered on 10/8/2004.

Formerly known as Nigerian International Bank Ltd

Address:          11 Idowu Taylor Street

Victoria Island, LAG, NGN.

• Ecobank Nigeria Plc

Commercial Bank registered on 4/24/1989.

Address:          2, Ajose Adeogun Street

Victoria Island, LAG, NGN.

• Fidelity Bank Plc

Commercial Bank registered on 1/2/2006.

Address:          2 Kofo Abayomi Street

Victoria Island, LAG, NGN.

• First Bank Nigeria Limited

Commercial Bank registered on 2/20/2014.

Formerly known as First Bank Nigeria Plc

Address:          Samuel Asabia House, 35 Marina Lagos

Lagos, LAG, NGN

• First City Monument Bank Plc

Commercial Bank registered on 11/11/1983.

Formerly known as First City Monument Bank Plc

Address:          Primrose Towers, 6-10 Floors 17A Tinubu Square

, LAG, NGN.

• Globus Bank Limited

Commercial Bank registered on 7/10/2019.

Address:          No 5 Adeyemo Alakija Street, Victoria Island, Lagos

• Guaranty Trust Bank Plc

Commercial Bank registered on 1/17/1990.

Address:          Plot 1669, Oyin Jolayemi Street

Victoria Island, LAG, NGN.

• Heritage Banking Company Ltd

Commercial Bank registered on 12/27/2012.

Address:          Plot 292, Ajose Adeogun Street, Victoria Island, Lagos

, LAG, NGN.

• Keystone Bank

Commercial Bank registered on 5/2/2001.

Address:          Plot 707, Adeola Hopewell Street,

Victoria Island, LAG, NGN.

• Polaris Bank

Commercial Bank registered on 1/3/2006.

Address:          Plot 708/709, Adeola Hopewell Street, Victoria Isl

, LAG, NGN

• Providus Bank

Commercial Bank registered since.

Address:          Plot 54, Ademola Adetokunbo

Victoria Island, LAG, NGN.

• Stanbic IBTC Bank Ltd.

Commercial Bank registered on 1/2/2006.

Formerly known as IBTC – Chartered Bank Plc

Address:          Walter Carrington Crescent,

Victoria Island, LAG, NGN.

• Standard Chartered Bank Nigeria Ltd.
• Sterling Bank Plc

Commercial Bank registered on 11/25/1960.

Formerly known as NAL Merchant Bank Ltd

Address:    Sterling Towers, 20 Marina, Lagos.

20 Marina, Lagos, LAG, NGN.

• SunTrust Bank Nigeria Limited

Commercial Bank registered on 3/12/2009.

Formerly known as SUNTRUST SAVINGS & LOANS LIMITED

Address:          1 Oladele Olashore Street

Victoria Island, LAG, NGN.

• Titan Trust Bank Ltd

Commercial Bank registered on 12/12/2018.

Address:          Plot 1680 Sanusi Fafunwa Street, Victoria Island, Lagos,NGN

• Union Bank of Nigeria Plc

Commercial Bank registered on 1/2/2006.

Formerly known as Union Bank Plc

Address:          36, Marina Lagos, LAG, NGN.

• United Bank For Africa Plc

Commercial Bank registered on 1/2/2006.

Address:          57, Marina

Lagos, LAG, NGN.

• Unity Bank Plc

Commercial Bank registered on 1/2/2006.

Address:          Plot 785, Herbert Macaulay Way,

Central Business District, ABU, NGN.

• Wema Bank Plc

Commercial Bank registered on 1/17/1945.

Formerly known as Agbomagbe Bank Limited

Address:          Wema Towers 54, Marina Lagos Island, NGN.

• Zenith Bank Plc

Commercial Bank registered on 6/20/1990.

Formerly known as Zenith International Bank Ltd

Address:          Plot 84, Ajose Adeogun Street, Victoria Island, LAG, NGN.

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Conclusion

All the commercial banks in Nigeria have been listed above with year of registration and also official address situated in different part of the country as given by the Central Bank of Nigeria.

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