Zenith Bank Becomes Nigeria’s Largest Bank By Customer Deposit

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

Midea Showrooms And Stores In Nigeria

If you’ve been wondering where Midea showroom and stores are in Nigeria below is a list of Showrooms and...

Ankara Styles For Slim Ladies: Top 5 Looks You Must Try! (Pictures)

Today’s fashion of Nigeria shows off plenty of Ankara styles for slim ladies, that will help them to create a...
- Advertisement -
- Advertisement -

Zenith Bank, a Tier one bank, has displaced First Bank as the largest bank in the country in terms of its reported customer deposit.

In its first-quarter results made available on the Nigerian Stock Exchange website, the bank reported that its customers deposited N3.396 trillion as against the N3.24 trillion reported by First Bank in the same period.

Before now, First Bank used to be the largest bank by the number of customers and customer deposits.

The five Tier one banks, First Bank, United Bank for Africa (UBA), Guaranty Trust Bank, Access Bank and Zenith Bank, reported a cumulative customer deposit of N14.1 trillion.

Read:  Nigeria Stock Exchange Suspends Trading in Diamond Bank Shares

In terms of current deposits, Zenith Bank reported N1.8 trillion — higher than any of the other four banks. GT Bank ranks second with N1.3 trillion, UBA comes in third with N1.1 trillion.

First Bank has the largest share of savings deposits of the N2.7 trillion recorded by the banks, claiming N1 trillion.

UBA lays claim to N601 billion and GT comes in third with N506 billion.

Access Bank has the largest fixed deposit at N1.29 trillion, followed closely by First Bank with N1 trillion. UBA is ranked third at N795 billion.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

Latest News

TV Sales Volume of TCL Electronics Remains No.2 in US Market

SHENZHEN, CHINA - EQS Newswire - 14 November 2019 - As a global leading manufacturer of Smart TV brand, TCL Electronics (the...

ECOVACS ROBOTICS’ AI Research Paper Presented at IROS 2019

MACAU, CHINA - Media OutReach - 14 November 2019 - ECOVACS ROBOTICS presented a paper on its 3D Simultaneous Localization and Mapping (SLAM) in service robotics technology...

SACRA MUSIC Commences Global Animation Song Cover Project "WACAVA Project"!

First series of cover songs distributed and cover singer auditions held TOKYO, JAPAN - Media OutReach - 14 November 2019 - Sony Music Labels Inc. (Headquarters: Chiyoda-ku, Tokyo, Representative Director:...

Challenges Facing Financial Inclusion In Nigeria

Financial inclusion is a term used to describe a population’s reasonable access to affordable financial services. Financial services in this context include a range of...

The State of Financial Services in Sub-Saharan Africa: How Youth in Six African Nations Spend, Save, And Invest – Report

Since the reformation of financial sectors throughout Africa in the 1990s, there has been a focus on economic development in sub-Saharan Africa through the...

More Articles Like This