Top 10 Best Banks In Nigeria 2021/2022 [Latest!]

List of the best banks in Nigeria

We present to you the most recent list of the top 10 best banks in Nigeria as of 2021/2022, and their competitive services.

If you’re looking for information about the most dependable bank with the most branches, the greatest bank to work for, or the most profitable bank, you’ve come to the perfect spot.

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.

If you’re wondering how many banks are in Nigeria, there are more than enough.

That is why this list of the best banks in Nigeria was compiled after extensive research on the country’s commercial banks.

You’ll find variables used in placing each of the banks when writing this article regarding bank ratings in Nigeria.

These are the largest banks in terms of total assets, market capitalization, brand esteem, the total number of branches, the total number of ATMs, national reputation, and the total number of ATMs, history, stages of online banking, and customer satisfaction.

List of the Top 10 Best Nigerian Banks

Recorded beneath is the ranking of Nigeria’s best banks.

Top 10 Best Banks In Nigeria
#1First Bank Nigeria Plc
#2Access Bank Nigeria Plc
#3Guaranty Trust Bank Plc
#4Zenith Bank Plc
#6United Bank for Africa UBA
#7Union Bank
#8Stanbic IBTC Bank
#9Fidelity Bank
#10Sterling Bank

1. Guaranty Trust Bank

Guaranty Trust Bank Plc is currently the best bank in Nigeria as of 2021/2022. Interestingly, the GT world app takes the lead on our list of the top 10 best mobile banking apps in Nigeria.

The Best Bank in Nigeria - Guaranty trust bank

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.

2. First Bank of Nigeria

The next bank on the list of best banks in Nigeria is First Bank Plc. This bank also happens to top the list of the oldest banks in Nigeria.

best banks in Nigeria

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.

Related: Top 10 Highest currencies in Africa

3. Access Bank

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.

4. Zenith Bank

list of best banks in Nigeria - Zenith

Next on the list of the top 10 best banks in Nigeria is Zenith Bank Plc.

The bank was established in 1990 on the principles of grandeur, verified skill, and best practices.

Due to its regular supply of innovative financial arrangements and great client service, the bank has been able to report an annual increase in the number of customers and important financial files since its founding.

In 2016, GTBank won a slew of national and international accolades for product and administration development, as well as strong corporate governance.

World Finance Magazine, for example, called 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 about 10,000 employees and has a total asset value of 3.287 trillion Naira, with 575.6 billion Naira in shareholder support.

5. Ecobank

The bank started financial activities in 1989.

It operates as a universal bank, giving wholesale, retail, corporate, speculation, and exchange banking administrations to its clients in the Nigerian market.

most reliable banks in Nigeria

The Bank’s operations are divided mainly in 3 groups: (a) Retail Banking (b) Wholesale Banking and (c) Treasury and Financial Institutions.

Eco Bank likewise offers capital markets and many other banking administrations.

Ecobank Transnational Incorporated (ETI) on Tuesday, April 30, 2019, made public its 2019 first quarter (Q3) result, with total assets down to N7.84 trillion from N8.22 trillion during the same time last year.

Nonetheless, the association announced a profit after tax of N30.587 billion for the quarter (Q1), an expansion of 11 percent from N27.863 billion in Q1 2018.

Profit before tax likewise expanded from N33.9 billion in 2018, to N37.09 billion in 2019, resulting in an expansion of 12 percent.

A further breakdown of the financial foundation’s outcomes, which was discharged on the Nigerian Stock Exchange (NSE), demonstrated that gross earnings developed by 0.5 percent.

This means a jump to N199.448 billion from N198.615 billion in 2018, while income went marginally down from N142.157 billion out of 2018 to N140.446 billion.

More information can be found on their official website at

6. United Bank for Africa

United Bank for Africa (UBA) Plc has also made it to this list of best banks in Nigeria.

It is a main pan-African financial administration group whose headquarters is located in Nigeria.

United bank for Africa

It is one of Africa’s best and most flexible banking Groups with activities in 20 African nations and workplaces in three worldwide financial locations: London, Paris, and New York.

The bank has kept on developing yearly and is clear through the numbers recorded toward the finish of 2019 with Total Assets worth N5.6 trillion, contrasted with N4.9 trillion, as at 2018FY (15.1% YoY development).

The bank likewise obtained Net Loans: N2.1 trillion which is a remarkable 20.2% YoY development in the advance book.

Client Deposits expanded to N3.8 trillion from N3.3 trillion as at 2018FY; speaking to 14.4% YoY development and Shareholders’ Funds of N 597.9 billion, a 19% YoY increment in contrast with the 2018 financial Year.

7. Union Bank

Union Bank is an enormous commercial bank, serving people, small and medium-sized companies, just as huge partnerships and associations.

Union bank of Nigeria

In July 2009, it was appraised as the 556th biggest bank in the world and the fourteenth biggest bank in Africa.

As of December 31, 2019, the bank’s total assets value was assessed at NGN1.4 trillion.

The shareholders’ equity around then was assessed at NGN 286 billion (US$851 million).

The bank keeps up an immense network of interconnected branches in every single Nigerian state.

It has two completely owned bank auxiliaries; Union Bank UK in London, United Kingdom, and UBN Property Company Limited in Nigeria.

8. Stanbic IBTC Bank

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 bank

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.

As at December 2019, The total Revenues made by the Bank are worth over NGN 152.3 Billion with Total assets worth a huge NGN 1.42 Trillion, and the bank operates with a base Number of workers of 2,926.

9. Fidelity Bank

Fidelity Bank, otherwise called Fidelity Bank Plc., is a commercial bank in Nigeria.

Fidelity bank

It is authorized as a commercial bank with international authorization, by the Central Bank of Nigeria (CBN), the central bank and national banking authorities.

As of December 2017, Fidelity Bank Plc. had total assets evaluated at over US$4.2 billion (NGN:1.4 trillion), and shareholders’ equity in an overabundance of US$610 million (NGN:203 billion).

The Bank serves its 4 million clients through its different dissemination channels including 240 business workplaces, 775 ATMs, and 4,346 POSs.

10. Sterling Bank

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. In fact, they provide Kiakia loan services, to all qualified individuals.

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.

Infographic on the best banks in Nigeria today by owogram

Best Banks In Nigeria (Summary)

The banking business in Nigeria is constantly changing as evidenced by the mergers of Access Bank and Polaris Bank. This is due to a variety of factors.

As these changes in the digital finance market take hold, it is critical to be informed of the best banks in Nigeria.

Different banks provide unique services to their consumers, and we’ve used these variables to create this bank rating page.

Was this article useful to you? Like, share, and leave your thoughts in the box below.

Even More Topics:


  1. Access is the best bank for me bikoo, the bank has swift transactions and delivery like no other, plus flexibility in loan packages.

  2. Are you even updating this post cause I see no reason while Access Bank should be in the top 5. I think you rate based on ranking. Customer’s review matters as well. I’ve never seen anyone commending Access Bank in anyway. But for first Bank, GTB, Zenith Bank, I have an account with the and they are doing great.

  3. Nice post Owogram. I have been using both GTBank and First Bank for years now and I think they’re the best especially when you contact their customer care representatives and how they swiftly handle and resolve issues.

  4. Nice post Owogram. I have been using both GTBank and First Bank for years now and I think they’re the best especially when you contact their customer care representatives and how they swiftly handle and resolve issues.

  5. Nice post Owogram. I have been using both GTBank and First Bank for years now and I think they’re the best especially when you contact their customer care representatives and how they swiftly handle and resolve issues.

Leave A Reply

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.