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.
United Bank for Africa (UBA) Plc ranks as Nigeria’s fourth-largest bank by total assets, reflecting its leadership in the country’s financial services industry and its growing footprint across Africa and beyond.
- As of the first quarter of 2025, UBA reported total assets of N31.71 trillion ($20.63 billion), up from N30.32 trillion ($19.75 billion) recorded at the end of the 2024 financial year.
- Headquartered in Lagos, UBA operates in 20 African countries and maintains international offices in the United States, the United Kingdom, the United Arab Emirates, and France.
- The bank serves more than 45 million customers through over 1,000 service touchpoints globally, including 451 branches across all 36 states in Nigeria and the Federal Capital Territory.
- Founded in 1949, UBA has evolved into a pan-African banking group offering a wide range of retail, commercial, and corporate banking services.
Its continued focus on technology, innovation, and expansion has positioned it as a key driver of financial inclusion across both emerging and mature markets.
