Seven of Nigeria’s largest financial institutions reported combined assets exceeding N175 trillion in the first quarter of 2026, underscoring the growing scale of the country’s banking sector amid ongoing balance sheet expansion and industry-wide capital strengthening efforts.
Latest financial disclosures show that Access Holdings Plc retained its position as the largest institution by asset size, posting total assets of N53.10 trillion as of the end of March 2026. The figure places the group significantly ahead of its peers and reinforces its standing among Africa’s biggest banking groups.
United Bank for Africa followed with total assets of N33.13 trillion, while Zenith Bank recorded N32.01 trillion, reflecting the strong market presence of both lenders across Nigeria and other African markets. Brandspur Banking News Desk reports that the asset growth recorded by leading financial institutions continues to reflect increased customer deposits, expanded lending activities and broader regional operations.
First HoldCo Plc ranked fourth with total assets of N26.88 trillion, maintaining its position among Nigeria’s largest financial services groups. Guaranty Trust Holding Company also posted a substantial balance sheet, reporting assets valued at N18.75 trillion during the review period.
Mid-tier financial groups continued to strengthen their market positions, with FCMB Group Plc reporting total assets of N7.96 trillion. Sterling Financial Holdings Company Plc completed the list with N4.07 trillion in assets, highlighting its continued expansion within the competitive banking landscape.
Collectively, the seven institutions controlled more than N175 trillion in assets during the first quarter, reflecting the increasing concentration of financial resources within Nigeria’s leading banking groups. The figures also come as lenders continue to align with regulatory requirements, pursue digital transformation initiatives and expand their footprints across key markets.
The asset rankings provide insight into the relative scale of Nigeria’s largest financial institutions and their capacity to support lending, infrastructure financing, trade facilitation and broader economic activity. As the sector adapts to evolving regulatory expectations and changing macroeconomic conditions, balance sheet strength remains a critical indicator of competitiveness and resilience.
The latest numbers reinforce the dominant position of the country’s top-tier banking groups, with Access Holdings, UBA, Zenith Bank, First HoldCo and GTCO accounting for the overwhelming majority of the combined assets reported by the seven institutions in the first quarter of 2026.
