How Many Banks In Nigeria Presently?

List Of All Banks In Nigeria

Bank in Nigeria are financial institutions licensed to receive deposits and make loans. This Banks may also provide financial services such as wealth management, currency exchange, and safe deposit boxes. There are several different kinds of banks in Nigeria including microfinance banks, commercial banks, merchant banks, development banks, non-interest banks, and mortgage banks. The banks in Nigeria are regulated by the Central Bank In Nigeria.

How many banks are in Nigeria?

There are well over 1000 banks and Microfinance Banks accounts for the highest percentage of banks in Nigeria.

Commercial Banks

Commercial banks provide basic banking services and products to the general public, both individual consumers and small to mid-sized businesses. Commercial banks make money by providing and earning interest from loans such as mortgages, auto loans, business loans, and personal loans. Customer deposits provide banks with the capital to make these loans. There are a total of 22 commercial banks in Nigeria

This are the list of Commercial Banks in Nigeria

  • Access Bank Plc
  • Citibank Nigeria Limited
  • Ecobank Nigeria Plc
  • Fidelity Bank Plc
  • FIRST BANK NIGERIA LIMITED
  • First City Monument Bank Plc
  • Globus Bank Limited
  • Guaranty Trust Bank Plc
  • Heritage Banking Company Ltd.
  • KeyStone Bank
  • Polaris Bank
  • Providus Bank
  • Stanbic IBTC Bank Ltd.
  • Standard Chartered Bank Nigeria Ltd.
  • Sterling Bank Plc
  • SunTrust Bank Nigeria Limited
  • Titan Trust Bank Ltd
  • Union Bank of Nigeria Plc
  • United Bank For Africa Plc
  • Unity Bank Plc
  • Wema Bank Plc
  • Zenith Bank Plc

 

Mortgage Banks

A mortgage bank is a bank specializing in mortgage loans. It can be involved in either originating or servicing mortgage loans, or both. A mortgage bank’s two primary sources of revenue are loan origination fees and loan servicing fees. The banks loan their own capital to borrowers and either collect payments in instalments along with a certain rate of interest or sell their loans in the secondary market. There are 33 Mortgage Banks in Nigeria.

This are the list of Mortgage Banks in Nigeria

  1. Abbey Building Society Limited
  2. Fha Homes Savings & Loans Ltd.
  3. First Generation Homes (Savings & Loans) Limited
  4. First Trust Mortgage Bank Plc
  5. Gateway Savings & Loans Limited
  6. Global Trust Savings & Loans Ltd.
  7. Haggai Savings And Loans Limited
  8. Homebase Mortgage Limited
  9. Imperial Homes Mortgage Bank Limited
  10. Infinity Trust Mortgage Bank Plc
  11. Jigawa Savings & Loans Limited
  12. Ag Homes Savings & Loans Limited
  13. Jubilee-Life Savings & Loans Limited
  14. Lagos Building & Investment Company Limited
  15. Livingtrust Mortgage Bank Plc
  16. Mayfresh Savings & Loans Limited
  17. Mgsl Mortgage Bank
  18. Mutual Alliance Saving & Loans Limited
  19. New Prudential Building Society Limited
  20. Nigeria Police Mortgage Bank
  21. Platinum Savings & Loans Limited
  22. Akwa Savings & Loans Limited
  23. Refuge Home Savings & Loans Limited
  24. Resort Savings & Loans Plc
  25. Safe Trust Savings & Loans Limited
  26. Stb Building Society Limited
  27. Aso Saving & Loans Plc
  28. Brent Mortgage Bank
  29. Centage Savings & Loans Limited
  30. City Code Savings & Loans Limited
  31. Coop Saving & Loans Limited
  32. Delta Building Society Ltd
  33. Kebbi State Home Savings & Loans Ltd.

 

Development Banks

Development banks are those which have been set up mainly to provide infrastructure facilities for the industrial growth of the country. They provide financial assistance for both public and private sector industries. There are 6 Development Banks in Nigeria.

This are the list of Development Banks in Nigeria

 

Merchant Banks

Merchant Bank (MB) is a financial establishment that gives the money for debt or equity financings. Most commonly, merchant banks provide services for large corporations. Usually, they include fundraising, advising, underwriting, or money loans. Unlike retail or commercial banks, merchant banks do not provide financial services to the general public but for large corporations and high-net-worth individuals. There are 6 Merchant Banks in Nigeria.

This are the list of Merchant Banks in Nigeria

  • Coronation Merchant Bank
  • LTDFSDH Merchant Bank
  • LTDFBN Merchant Bank LTD
  • Greenwich Merchant Bank
  • Nova Merchant Bank LTD
  • Rand Merchant Bank

 

Non-Interest Banks

Non-Interest banking operates on defining principles such as religious belief, interest prohibition in debt and exchange contracts; the prohibition of uncertainty or speculative behaviour in business transactions; the prohibition of any form of gambling. Non-Interest Banking is real-economy oriented where profit and loss sharing arrangement, mark-up, leasing and partnership are mostly the mode of financing. There are 3 Non-Interest Banks in Nigeria.

This are the list of Non-Interest Banks in Nigeria

  1. Jaiz Bank PLC
  2. Taj Bank
  3. Lotus Bank Ltd.

 

Micro-Finance Banks

Microfinance banks in Nigeria are approved financial institutions by the Central Bank of Nigeria to provide small loans to individuals or groups. They also give entrepreneurs and organizations, access to credit facilities for their businesses with a scheduled date for repayment which are usually done in instalments and with interest

This are the list of Microfinance Banks in Nigeria

  • AACB Microfinance Bank Limited
  •  AB Microfinance Bank Limited National
  •  ABC Microfinance Bank Limited Unit
  •  Abestone Microfinance Bank Ltd
  •  Abia State University Microfinance Bank Limited
  •  Abigi Microfinance Bank Limited
  •  Above Only Microfinance Bank Ltd
  •  Abubakar Tafawa Balewa University Microfinance
  •  Abucoop Microfinance Bank
  •  Accion Microfinance Bank Limited
  • To see all Microfinance click here

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