Nigeria’s commercial banks continue to play a pivotal role in driving economic growth, credit expansion, and financial inclusion.
As the country pursues its ambitious $1 trillion GDP target, the strength of its banking sector has become even more critical.
In Q1 2025, the ten largest banks in Nigeria reported a combined total asset base of N218.99 trillion ($142.48 billion) up from N212.75 trillion ($137.63 billion) at the end of 2024.
This growth signals a resilient financial sector capable of supporting lending, infrastructure investment, and broader economic activity.
Bank assets matter because they reflect capacity; the more assets a bank controls, the more it can deploy to power businesses, fund government projects, and deepen access to credit.
In a country where capital remains scarce for many, strong balance sheets can unlock inclusive, sustainable development.
Below is the ranking of Nigeria’s top 10 banks by total assets as of the first quarter of 2025, highlighting the institutions at the heart of the nation’s economic engine.
Stanbic IBTC Bank Limited, a subsidiary of Stanbic IBTC Holdings Plc and part of the Standard Bank Group, reported total assets of N7.39 trillion ($4.81 billion) as of the first quarter of 2025.
- This represents an increase from N6.91 trillion ($4.51 billion) recorded at the end of the 2024 financial year.
- The bank operates 129 branches and over 350 ATMs across Nigeria, delivering a range of financial services to individuals and businesses nationwide.
- Stanbic IBTC Holdings Plc is 67.55% owned by Stanbic Africa Holdings Limited, a UK-incorporated entity, while its ultimate parent company, Standard Bank Group Limited, is based in South Africa.
- The group maintains a strong footprint across 20 sub-Saharan African countries and several global financial centres.
Through its 10 direct and one indirect subsidiary, Stanbic IBTC offers a diversified suite of financial services, including commercial banking, asset management, pensions, stockbroking, insurance, and investment advisory.
