In 2022, Zenith Bank was the leading banking service provider in Nigeria in terms of tier 1 capital, as the latter reached an approximate value of 2.58 billion U.S. dollars. The financial institution was also the leading bank in West Africa with respect to its capital. Access Bank and First Bank of Nigeria followed, with their tier 1 capital amounting to around 2.4 billion U.S. dollars and 2.22 billion U.S. dollars, respectively.
Main banks in Nigeria as of 2023, by tier 1 capital
(in million U.S. dollars)
The source notes that its ranking for the100 leading banks survey uses Tier 1 capital, consisting of capital, reserves, retained earnings, and minority interests. It adds that figures in local currencies have been converted into U.S. dollars at the foreign exchange rates on 31 December 2022, the year-end date, in the results.
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African Business. (October 3, 2023). Main banks in Nigeria as of 2023, by tier 1 capital (in million U.S. dollars) [Graph]. In Statista. Retrieved December 27, 2024, from https://www.statista.com/statistics/1319569/leading-banks-in-nigeria-by-capital/
African Business. "Main banks in Nigeria as of 2023, by tier 1 capital (in million U.S. dollars)." Chart. October 3, 2023. Statista. Accessed December 27, 2024. https://www.statista.com/statistics/1319569/leading-banks-in-nigeria-by-capital/
African Business. (2023). Main banks in Nigeria as of 2023, by tier 1 capital (in million U.S. dollars). Statista. Statista Inc.. Accessed: December 27, 2024. https://www.statista.com/statistics/1319569/leading-banks-in-nigeria-by-capital/
African Business. "Main Banks in Nigeria as of 2023, by Tier 1 Capital (in Million U.S. Dollars)." Statista, Statista Inc., 3 Oct 2023, https://www.statista.com/statistics/1319569/leading-banks-in-nigeria-by-capital/
African Business, Main banks in Nigeria as of 2023, by tier 1 capital (in million U.S. dollars) Statista, https://www.statista.com/statistics/1319569/leading-banks-in-nigeria-by-capital/ (last visited December 27, 2024)
Main banks in Nigeria as of 2023, by tier 1 capital (in million U.S. dollars) [Graph], African Business, October 3, 2023. [Online]. Available: https://www.statista.com/statistics/1319569/leading-banks-in-nigeria-by-capital/
