Top 10 Banks With Highest Customer Deposits in 2022 as Customers Lament Lopholes in Banks

Top 10 Banks With Highest Customer Deposits in 2022 as Customers Lament Lopholes in Banks

  • Top Nigerian banks raked in trillions of naira in customer deposits in 2022
  • The banks’ deposits grew from N37 trillion in 2021 to to 47 trillion in 2022
  • Access Bank, Ecobank and Zenith Bank led the pack as banks with highest customer deposit

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Bank customer deposits by top banks in Nigeria grew by 33.53 per cent to N49 trillion in the first nine months of 2022 from N37 trillion in the year before, data extracted from the Nigerian Exchange Group reveals.

A BusinessDay report on listed banks on Nigerian Exchance Limited shows that Access Holdings, Ecobank Transnational Incorporated, Zenith Bank, UBA, First Bank FCMB, Union Bank and Sterling Bank reported the highest value of customer deposits in the first nine months of 2022.

Banks in Nigeria, Access Bank, Ecobank, Zenith Bank
Top banks with highest customer deposit Credit: Joyce
Source: Getty Images

Banks jostle to rake in N2.7 trillion outside banking system

Top Nigerian lenders are competing to attract about N2.7 trillion outside the formal sector, leveraging the six weeks window provided by Central Bank of Nigeria (CBN) to replace old naira notes.

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Top banks such as Zenith Bank, First Bank and UBA have begun reaching out to potential and existing client to rake in more deposits.

Top 10 banks by customer deposits in 2022

  • Access Bank: N8.19 trillion.
  • The bank’s customer deposits grew by 31.46 per cent from N6.23 trillion in the nine-month period of 2021.
  • Ecobank: N8.06 trillion
  • Zenith Bank: N8.04 tillion
  • United Bank for Africa: N7 trillion
  • First Bank: N6.6 trillion
  • Guaranty Trust Bank: N4.26 trillion
  • Fidelity Bank: N2.29 trillion
  • FCMB: N1.82 trillion
  • Union Bank: N1.53 trillion
  • Sterling Bank: N1,15 trillion

Bank customers have recently lamented loopholes in banks which frequently see huge amounts mission from their accounts.

The say the banks have become porous as hackers and suspected bank staff feast on customer deposits.

Access, Zenith are the leading commercial banks in Nigeria by total assets in 2022 reported that Nigerian banks have emerged stronger in the face of economic uncertainty, increasing their asset base by over N4.76 trillion in the first six months of 2022.'

Data obtained from the Nigerian Exchange showed that 13 banks increased the value of their assets at the end of June 2022 by 8.1% to N63.59 trillion, up from N58.83 trillion at the start of the year.

Access Bank, Zenith, and FBN Holdings retained their positions as the top three commercial banks based on asset base.


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