Nigeria, often referred to as the “Giant of Africa”, is a country with a growing economy and a robust banking sector

 Nigeria, often referred to as the “Giant of Africa”, is a country with a growing economy and a robust banking sector

. The Nigerian banking industry has witnessed significant growth in recent years, with the emergence of new players in the market and the expansion of existing banks. In this article, we will take a closer look at twenty banks in Nigeria that are worth knowing about.

1. Central Bank of Nigeria (CBN)

The Central Bank of Nigeria is the apex regulatory body for the banking sector in the country. It was established in 1958 and has the responsibility of formulating and implementing monetary and credit policies in Nigeria. The CBN also supervises and regulates the activities of all banks in the country.

2. First Bank of Nigeria (FBN)

First Bank of Nigeria is the oldest bank in the country, established in 1894. It is also the largest bank in terms of total assets and customer base. FBN offers a wide range of banking products and services to individuals and corporate clients.

3. United Bank for Africa (UBA)

United Bank for Africa is one of the leading banks in Nigeria, with operations in 20 African countries and offices in New York, London, and Paris. UBA offers various financial services such as retail banking, corporate banking, investment banking, and asset management.

4. Access Bank

Access Bank is a full-service commercial bank that caters to the needs of individuals, small and medium-sized enterprises (SMEs), and large corporations. The bank offers a wide range of products and services, including loans, mortgages, savings accounts, and investment options.

5. Zenith Bank

Zenith Bank is one of the top banks in Nigeria, with a strong presence in West Africa. The bank offers a wide range of financial services, including corporate and investment banking, retail banking, and wealth management.

6. Guaranty Trust Bank (GTBank)

GTBank is a leading financial institution in Nigeria, known for its innovative products and services. The bank offers retail, corporate, and commercial banking services, as well as investment banking, asset management, and securities trading.

7. Ecobank Nigeria

Ecobank Nigeria is a subsidiary of the pan-African banking group, Ecobank Transnational Incorporated (ETI). The bank offers a range of banking products and services to individuals, businesses, and governments in Nigeria.

8. Union Bank of Nigeria

Union Bank of Nigeria is one of the oldest and most reputable banks in the country, dating back to 1917. The bank offers personal and commercial banking services, as well as wealth management and investment options.

9. Stanbic IBTC Bank

Stanbic IBTC Bank is a subsidiary of South Africa’s Standard Bank Group and has been operating in Nigeria since 1991. The bank offers a wide range of financial services, including personal and commercial banking, investment banking, and insurance.

10. First City Monument Bank (FCMB)

FCMB is a full-service banking group with operations in Nigeria, the United Kingdom, and a presence in other African countries. The bank offers a range of products and services, including personal and business banking, investment management, and brokerage services.

11. Fidelity Bank

Fidelity Bank is a commercial bank that provides a wide range of financial services to individuals and businesses. The bank offers savings and current accounts, loans, mortgages, and investment options.

12. Wema Bank

Wema Bank is one of the oldest indigenous banks in the country, established in 1945. The bank offers personal and business banking services, as well as treasury and investment services.

13. Sterling Bank

Sterling Bank is a full-service commercial bank that offers a range of financial services to individuals and businesses in Nigeria. The bank has a strong focus on digital banking and offers various innovative products and services.

14. Unity Bank

Unity Bank is a retail and commercial bank that offers a range of financial products and services, including savings and current accounts, loans, and investment options.

15. Keystone Bank

Keystone Bank is a commercial bank that provides a wide range of financial services to individuals, small and medium-sized enterprises, and large corporations. The bank also offers digital banking solutions to its customers.

16. Providus Bank

Providus Bank is a full-service bank that offers a range of financial services, including retail and business banking, investment management, and corporate banking.

17. Polaris Bank

Polaris Bank is a commercial bank that was established in 2018, after the acquisition of the defunct Skye Bank. The bank offers personal and business banking services, as well as digital banking solutions.

18. SunTrust Bank

SunTrust Bank is a commercial bank that offers a range of financial services, including personal and business banking, treasury and investment management, and electronic banking solutions.

19. Titan Trust Bank

Titan Trust Bank is a new commercial bank that was granted a national banking license in 2019. The bank offers personal and business banking services, as well as digital banking solutions to its customers.

20. Grooming Microfinance Bank

Grooming Microfinance Bank is a microfinance institution that provides financial services to low-income earners and small business owners. The bank offers savings and loans products, as well as financial advisory services.

In conclusion, the Nigerian banking industry is a vibrant and competitive sector, with several players offering a wide range of financial products and services. These twenty banks are just a few of the many banks in Nigeria that are making significant contributions to the growth and development of the country’s economy.