It is no secret that Nigeria is ranked among the fastest growing economies in Africa. This heralded position owes a lot of gratitude to the much publicized consolidation exercise carried out by the Central Bank of Nigeria in 2010. These banks emerged much stronger and better after the consolidation than they were before. In the process of undertaking their roles as safe keeper for cash and valuables, they have accumulated a great deal of wealth. Banking is usually a very viable business though it requires a lot of funds to set up. It is a known fact that some animals are equal but some are more equal than others. This fact is applicable to Nigerian banks. In this article, I would be discussing the top 10 banks in Nigeria. These ten largest banks in Africa’s biggest economy dominate the highly competitive banking industry.
- Diamond Bank Nigeria PLC
Positioned at number 10 is Diamond bank.
It was established on 20th December, 1990, Diamond bank is a fully licensed commercial bank in Nigeria that also provides services across Africa. The bank is among Nigeria’s biggest and richest banks with assets worth more than $5 million.
They also boast a customer deposit of ₦206 billion, while their Profit before tax for the year ended 2014 was ₦1 billion.