Best 7 Banks In Nigeria That You Should Know
Banks are one of the centers of financial flows that are most widely used by people for saving, making transactions, and investing. Africa has many reputable banks, 7 of which are located in Nigeria. Here is a list of the best bank Nigeria that you should know about in this article.
7 Best Banks in Nigeria
Banks in Nigeria are managed and regulated directly by the Central Bank of Nigeria. Banks in Nigeria have about 21 commercial banks, 5 discount houses, 860 microfinance banks, 5 development finance banks, and 64 finance banks.
In this article, you can find a list of 7 of the best banks in Nigeria, such as:
1. Zenith Bank
Zenith Bank was first established in 1990. Until now, Zenith Bank has served more than 1.6 million customers and employed 7000 employees.
This bank already has 500 branches, representative offices, and subsidiaries. Some of the places that have Zenith Bank branches are South Africa, Gambia, Ghana, China, UK, Sierra Leone, and UAE.
Services provided include retail banking, FOREX, SME, corporate and investment, trading services, and other services.
2. Guarantee Trust Bank (GT Bank)
Formed in 1990, GT bank is headquartered in Nairobi. It has about 5000 employees and 8 million customers.
The services provided by GT bank include retail banking, online banking, corporate and investment banking, and asset management.
What’s more, GT Bank has 220 domestic branches, 44 e-branch, 1165 ATMs, including in South Africa and England.
3. First Bank
Established since 1984, First Bank already has 7000 employees. It also has 760 branches with Lagos as the head office.
First Bank also established branches in other places, such as Beijing, Abu Dabhi and Johannesburg.
4. Ecobank
Two years after First Bank, Ecobank started operating in 1986. Making it be the best bank Nigeria which has 600 branches spread throughout Nigeria.
The services provided by Ecobank include retail, corporate, investment, and capital market banking.
5. Access Bank
Access Bank first received a license from the Central Bank of Nigeria in 1988. Now, there are 317 branches in Nigeria and the UK. Access Bank also opened representative offices in China, India, UAE, and Lebanon.
Employs 2,965 employees to operate in four segments. Especially in Commercial Banking, Personal Banking, Investment Banking, and. Corporate Banking.
6. United Bank for Africa
First established in 1946 under the name British and French Bank Limited. This bank was the first bank to be listed on the Nigerian stock exchange in 1970.
The financial services provided are joint retail, commercial and corporate services, and other services.
Approximately 12,000 employees are working for United Bank which has 14 million customers from around the world.
7. Diamond Bank
Operating since 1991, Diamond Bank already has 270 branches, 4,400 employees, and 1,051 ATMs spread throughout Nigeria.
Diamond Bank obtained a universal bank license in 2001. Then, for financial services, this bank provides various banking and financial services, such as money loans, corporate financial services, and dealing in money markets.
Which Bank You Are Interested The Most?
Among the best bank Nigeria mentioned above, First Bank leads the increase in Tier 1 capital base in 2020. If you plan to save some money in banks, these list could help you in deciding that. Also make sure to know about budgeting so your saving could feel easier to achieve!
