Full List of 7 Biggest Banks in Nigeria in 2025, and Their Market Value As GTB Breaks Record
- A breakdown of the list of the most valuable commercial banks in Nigeria as of July 2025 has been revealed
- In recent weeks, the share price of financial institutions has been on the rise, led by GTCO, the parent company of GTBank
- For the first time in history, a Nigerian financial institution crossed the N100 per share mark on the NGX
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Guaranty Trust Holding Company Plc has emerged as the most valuable commercial bank in Nigeria based on market capitalisation.
Data obtained from the Nigerian Exchange showed that the combined market capitalisation of seven financial institutions listed on the NGX stood at N13 trillion as of Friday, July 18.
Source: Getty Images
Market capitalisation refers to how much a company is worth as determined by the stock market.
It is calculated by multiplying the company's current share price by the number of shares outstanding.
The 7 current most valuable banks
Here is the current ranking of the 10 biggest banks in Nigeria based on their market cap.
1. GTCO – N3.4 trillion
Guaranty Trust Holding Company Plc, the parent company of GTBank leads the pack with a market capitalisation of N3.4 trillion.
GTCO recently set a new record when it became the first financial institution stock to trade at over N100 on the Nigerian Exchange.
This feat has helped push it to become the current most valuable bank in Nigeria.
Market analysts attribute the rally to growing investor optimism following GTCO’s dual-market strategy and recapitalisation drive aimed at strengthening its banking subsidiary in Nigeria.
2. Zenith Bank – N3.1 trillion
Zenith Bank is in second place, with a market value of N3.1 trillion, maintaining its position as one of Nigeria’s most capitalised financial institutions.
The bank has a strong bottom line, which has attracted investors to its shares.
In the 2024 financial year, Zenith Bank's profit before tax (PBT) rose by 67%, reaching N1.3 trillion in 2024 from N796 billion in 2023.
The bank said its strong result is driven by a combination of top-line expansion and efficient treasury portfolio management.
3. United Bank for Africa (UBA) – N1.9 trillion
UBA follows in third with a valuation of N1.9 trillion, backed by a rise in its share price and robust financial results.
UBA in 2024 grew its profit to N804 billion and declared a N3.00 kobo final dividend in its full-year 2024 audited financials.
Source: Getty Images
4. Stanbic IBTC – N1.6 trillion
Stanbic IBTC Holdings ranks fourth with a market capitalisation of N1.6 trillion, continuing its upward momentum driven by strong investor demand.
The financial institution currently has the second-highest share price among banks, trading above N90, and is just less than N1 away from breaking into the N100-per-share club.
5. First Bank Holdings (First HoldCo) – N1.5 trillion
First Bank, Nigeria’s oldest financial institution, has a market value of N1.5 trillion. The bank has recently been in the news due to a major share sale and purchase transaction involving Oba Otudeko, Hassan Odukale, and Femi Otedola.
Its share price rose to over N33, following reports of significant block trades and increased investor activity.
6. Access Holdings – N1.4 trillion
Access Holdings is sixth on the list with a valuation of N1.4 trillion
The bank has been actively pursuing acquisitions to expand its presence, particularly in East Africa.
Recent acquisitions include National Bank of Kenya from KCB Group and Standard Chartered Tanzania operations.
7. Fidelity Bank - N1.1 trillion
Fidelity Bank rounds out the list of Nigeria’s trillion-naira banks with a market capitalisation of N1.1 trillion.
The bank has received renewed interest from investors. Vanguard also reports that AMCON has offloaded its shares.
CBN confirms banking sector's resilience
The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, had assured that the country's banking sector continues to be secure, stable, and robust.
During a two-day meeting, the Monetary Policy Committee (MPC) analysed recent economic and financial trends and evaluated its projections for the rest of the year.
The committee conducted a comprehensive review of key metrics reflecting the health of the banking sector, with the findings described as encouraging.
Despite ongoing challenges, the committee observed that the industry continues to demonstrate strength and perform well across various financial stability indicators.
Largest commercial banks in Nigeria by assets
In related news, Legit.ng reported that Nigeria's tier-one banks' combined total asset value increased to N116.80 trillion as of the end of the first quarter of 2024.
The figure represented a 23.81% or N22.46 trillion increase compared to N94.33 trillion as of December 2023.
Legit.ng analysis showed that combined assets grew by N22.46 trillion among the tier-one banks surveyed in the last three months.
This article has been updated by the head of business desk, Victor Enengedi, with additional information.
Source: Legit.ng
