Access Leads, UBA 3rd: Top Nigerian Banks With Highest Loan Amounts to Customers in 2023

Access Leads, UBA 3rd: Top Nigerian Banks With Highest Loan Amounts to Customers in 2023

  • The list of commercial banks with the highest loans to customers in the first six months of 2023 has been revealed
  • Access Bank leads the table with over N6 trillion loans to customers, followed by First Bank and United Bank of Africa
  • The Central Bank of Nigeria mandates banks to loan a minimum of 65% of deposits in their possession

Nigerian banks listed on the Nigerian Exchange have significantly increased their lending to customers during the first half of 2023.

According to data obtained by shows that eleven banks, as at the end of June 2023, have disbursed N26.83 trillion to their customers.

Nigerian banks loans to customers
More Nigerians are accessing loans from banks as economy bites Photo credit: UGC
Source: Facebook

The banks surveyed are First Bank Holding Company, Access Holding Company, Zenith Bank, Guaranty Trust Holding Company (GTCO), United Bank for Africa (UBA), First City Monument Bank (FCMB), Fidelity Bank, Stanbic IBTC Bank, Sterling Bank, Unity Bank, and Wema Bank.

Read also

Access, Zenith, GTBank, 8 others write off N1.67 trillion Non-performing loans

Breakdown of the loans

Analysis by shows that Access Bank, First Bank, and United Bank for Africa (UBA) gave out the highest loans and advances among the banks surveyed.

Access Bank- (N6.70 trillion)

Access Bank Holding, the parent company of Access Bank, reports that its loan book stood at N6.70 trillion at the end of June.

This represents a 31.54 percent increase compared to the N5.10 trillion total loan and advances customers stood in June 2022.

First Bank- (N5.26 trillion)

First Bank has the second-highest loan and advances to customers among the banks surveyed, with N5.26 trillion at the end of June 2023.

This is a massive increase of 38.85% from the N3.78 trillion loans to customers stood in the corresponding period in 2022.

Read also

Customers of Access, Zenith, GTB, 9 others pay N154 billion for electronic transactions

UBA- (N4.50 trillion)

UBA's loans and customer advances stood at N4.50 trillion as of the end of June 2023, marking an increase from N3.13 trillion in the corresponding period of 2022.

This indicates that UBA customers obtained N1.36 trillion in loans in one year.

Other banks' total loans and advances to customers as at June 2023

  • Fidelity - N2.65 trillion
  • GTB - N2.32 trillion
  • Stanbic - N1.66 trillion
  • FCMB - N1.54 trillion
  • Sterling - N871.9 billion
  • Zenith - N505.1 billion
  • Wema - N627 billion
  • Unity - N198.6 billion

Access Bank, GTCo, Zenith, and UBA pay shareholders highest dividends

Meanwhile, in another report, revealed that Nigeria's Stock market investors enjoyed bumper harvests from their investments.

United Bank for Africa (UBA), Guarantee Trust Holdings, Zenith Bank, and Access Bank Holdings paid N236.43 billion dividend payout in 2022.

While Zenith Bank and GTCo recorded the most attractive dividend-paying stocks in the banking industry.


Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email:

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