A recent analysis of bank performance reveals that Fidelity Bank, Zenith Bank, and Access Holdings have secured the top spots in terms of capitalization as of the third quarter (Q3) of 2023. This accolade comes shortly after the Central Bank of Nigeria (CBN) announced a planned recapitalization of banks at the 58th Annual Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos.
Zenith Bank remains firmly at the top of the capitalization ladder, holding a substantial capital base of N1.92 trillion, solidifying its position as the most capitalised bank in Nigeria.
UBA closely follows Zenith Bank, showcasing a capital base of N1.778 trillion, solidifying its status as one of the most financially sound institutions in the country.
Access Holdings, with a capital base of N1.64 trillion, and First Bank Holdings, with N1.37 trillion, round out the top five, demonstrating their impressive financial stability.
Fidelity Bank’s Q3 2023 results reveal a significant increase in capital base, reaching N410.75 billion compared to the N314.3 billion recorded in 2022. This substantial growth demonstrates the bank’s strong financial performance and its commitment to long-term stability.
Furthermore, Fidelity Bank had proactively secured shareholders’ approval to raise additional capital earlier in the year, further bolstering its financial position and demonstrating its proactive approach to growth.
The bank’s impressive performance places it among the leading financial institutions in Nigeria, alongside other top-capitalised banks such as Zenith Bank (N1.92 trillion), UBA (N1.778 trillion), Access Holdings (N1.64 trillion), First Bank Holdings (N1.37 trillion), and Ecobank (N1.37 trillion).
This recognition underscores Fidelity Bank’s commitment to providing excellent financial services to its customers while ensuring its long-term sustainability and resilience amidst the evolving Nigerian banking landscape. The CBN’s recapitalization plan aims to strengthen the entire banking sector and make it more resilient to potential economic shocks.
Additionally, the bank’s recent acquisition of the UK division of Union Bank of Nigeria further signifies its strategic expansion and global ambitions.
Full List Of Top 10 Most Capitalised Banks In Nigeria As Of Q3 2023:
1. Zenith Bank Plc 1,920.00 billion
2. United Bank for Africa Plc: N1,778.79 billion
3. Access Holdings Plc: N1,640.50 billion
4. First Bank Holdings Plc:** N1,370.75 billion
5. Ecobank Transnational Incorporated: N1,373.85 billion
6. GTCO Holdings Plc: N1,273.57 billion
7. Stanbic IBTC Holdings Plc: N471.10 billion
8. Fidelity Bank Plc: N410.75 billion
9. FCMB Group Plc: N373.70 billion
10. Sterling Financial Holdings Plc: N165.84 billion