Top 10 banks in Nigeria: Nigeria as a country boasts of about 160 million people and the importance of top banks in Nigeria to manage their wealth is extremely important.
Amidst this population, we have just 22 commercial money deposit banks serving the total populace. In the last 10 years, banking industry in Nigeria have witnessed a lot of revolution and consolidation to make banks more stronger and wealthier, and as you know the wealth of a bank is a criteria among others used in determining the strength of a bank.
Basic indicators that are put to test in confirming the strength of the top 10 banks in Nigeria are how profitable their business are, the funds of the shareholders sitting in the bank, total assets, deposits of customers and earning, and capital base.
It has been a difficult year for the banks in Nigeria though, the economy, recessional factors and a lot of critical restructuring has led to the banks trying to maximise their bottomline in order to remain in business. This does not however stop the banks from remaining as one of the top 10 banks in Nigeria.
The top 10 banks in Nigeria are:
10 First City Momument Bank (FCMP) also made the list of top 10 banks in Nigeria
A subsidiary of First City group, FCMB closes the list of top 10 banks in Nigeria by asset, regaining the position with a total asset worth of N1.2 trillion at the EOY 2015. There was a marginal decline at EOY to the tune of 0.8% decline in its total asset base. This was against an incredible growth of 16% it managed to climb in 2014. We still await what will become of FCMB if it will remain in the list of the top 10 banks in 2016.
9 Skye Bank is on the list of top 10 banks in Nigeria
Due to issues relating to investment securities and balances with the CBN, Skye bank witnessed the greates decline in asset growth of 13.6% percent in 2015
8 Fidelity Bank is on number as the top 10 banks in Nigeria and listed as the number 21 overall in Africa
7 United bank of Africa (UBA) also made it to the list of the top 10 banks in Nigeria
6 Diamond Bank made the list of the top 10 banks in Nigeria, clinched number 17 in Africa and 711th in the world with a total shareholder’s funds totaling $912 million.