The total asset value increased to N74.06 trillion by 2022, representing a 15.3% growth from N60.76 trillion in 2021. The list is according to the financial results submitted by the banks to the Nigerian exchange.
The banks surveyed include Access Bank, Ecobank, Zenith Bank, United Bank for Africa(UBA), Guaranty Trust Holding Company(GTCO), Stanbic IBTC, First City Monument Bank (FCMB), Union Bank, Sterling Bank, and Wema Bank.
What is a bank asset?
A bank asset refers to any resource that a bank owns or controls that has economic value and is expected to provide future financial benefit.
The asset base is an essential measure of a business’s financial health and stability, as it represents the resources that can be used to generate income and cover liabilities.
This includes cash reserves, government securities, corporate bonds, loans to individuals and businesses, and property owned by the bank.
List of Nigeria’s biggest banks by asset
Access Bank has the most extensive asset base among financial institutions, closely followed by Ecobank and Zenith Bank, which take second and third place, respectively.
Access Bank – N15 trillion
Ecobank – N13.37 trillion
Zenith Bank – N12.29 trillion
United Bank for Africa (UBA) – N10.86 trillion
Guaranty Trust Holding Company (GTCO) – N6.45 trillion
Fidelity Bank- N3.98 trillion
Stanbic IBTC Holdings – N3.03 trillion
First City Monument Bank (FCMB) – N2.5 trillion
Union Bank – N2.4 trillion
Sterling Bank – N1.4 trillion
Wema Bank – N1 trillion
