Six Nigerian Banks’ Total Assets Rise to N195.08 Trillion
- The combined total assets of six major Nigerian banks increased by 6.73% to N195.08tn as of September 2026, from N182.79tn a year earlier
- First HoldCo and Zenith Bank accounted for 73% of the N12.29tn increase in the lenders' combined balance sheets
- Analysts attributed part of the expansion to increased investment in government securities and higher lending, but cautioned that asset growth does not automatically indicate improved asset quality
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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.
The combined total assets of six of Nigeria’s biggest listed banks increased by 6.73% to N195.08 trillion as of September 30, 2026, from N182.79 trillion recorded in the corresponding period of 2025.
The increase represents an additional N12.29 trillion in assets over the 12-month period, according to the banks' unaudited financial statements.
Source: Facebook
The lenders are Access Holdings Plc, Ecobank Transnational Incorporated, Zenith Bank Plc, First HoldCo Plc, Guaranty Trust Holding Company (GTCO) and Stanbic IBTC Holdings Plc.
Five of the six banks recorded growth in their balance sheets, with First HoldCo and Zenith Bank contributing N9.01 trillion, representing approximately 73% of the total increase.
Access Holdings retains largest asset base
Access Holdings retained its position as the largest bank by total assets, with N52.60 trillion as of September 30, 2026, representing a 0.78% increase from N52.20 trillion recorded a year earlier.
Ecobank followed with N47.92 trillion, while Zenith Bank recorded N34.39 trillion. First HoldCo had N32.20 trillion, GTCO recorded N18.37 trillion, and Stanbic IBTC posted N9.60 trillion.
Ecobank's naira-denominated assets declined marginally by 0.11% to N47.92 trillion from N47.97 trillion.
However, its assets increased by 10.9% in dollar terms to $35.96 billion from $32.43 billion.
First HoldCo recorded the strongest expansion, with total assets increasing by 21.95% to N32.20 trillion from N26.40 trillion.
Its investment securities rose by 62.4% to N10.31 trillion from N6.35 trillion, while financial assets measured at fair value through profit or loss increased more than sixfold to N2.22 trillion from N352.38 billion.
Stanbic IBTC ranked second in asset growth, with its balance sheet expanding by 14.53% to N9.60 trillion from N8.38 trillion.
Its other assets increased to N1.21 trillion from N640.38 billion, while loans and advances grew by 16% to N3.04 trillion.
Source: Getty Images
Zenith Bank recorded a 10.30% increase in total assets to N34.39 trillion from N31.18 trillion. Its loans and advances rose by 24.2% to N11.64 trillion from N9.37 trillion, while cash balances with the Central Bank of Nigeria increased to N7.66 trillion from N6.85 trillion.
GTCO's total assets grew by 10.29% to N18.37 trillion from N16.66 trillion. Its investment securities held at fair value through profit or loss surged to N605.55 billion from N13.61 billion, although loans to customers declined by 7.4% to N3.00 trillion.
Access Holdings recorded the slowest growth among the six lenders. Its loans to customers increased by 11.2% to N14.33 trillion, while cash balances declined by 27.6% to N6.32 trillion from N8.73 trillion.
Source: Legit.ng
