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.
Fidelity Bank Plc, a full-service commercial bank, reported total assets of N10.45 trillion ($6.80 billion) as of the first quarter of 2025.
- This represents an increase from N8.82 trillion ($5.75 billion) recorded at the end of 2024, placing the bank as the seventh-largest in Nigeria by total asset size.
- Established in 1988 as a merchant bank and converted to a commercial bank in 1999, Fidelity Bank currently operates 249 branches across Nigeria. It also maintains an international presence through a branch in the United Kingdom.
- Serving over 7.2 million customers, the bank has invested heavily in digital banking platforms.
- Its strategic focus on select corporate clients and the MSME segment has driven strong growth in savings deposits for more than a decade.
As of 2025, over 57% of its customers use Fidelity’s mobile and internet banking services.
