Nigeria’s banking sector recorded strong financial performance in 2025, with several major lenders posting impressive profit figures despite economic pressures, currency volatility and regulatory changes.
According to data published by African Banker Magazine (2025) and compiled by Statisense, Zenith Bank Plc emerged as the most profitable bank in Nigeria for the year, closely followed by Guaranty Trust Bank (GTBank).
Below is a breakdown of the most profitable banks operating in the country in 2025:
1. Zenith Bank Plc – $668 million
Zenith Bank retained its position at the top, driven by strong interest income, effective cost management and robust digital banking operations.
2. Guaranty Trust Bank (GTBank) – $658 million
GTBank followed closely, continuing its reputation for efficiency, innovation and consistent returns to shareholders.
3. United Bank for Africa (UBA) – $496 million
UBA’s wide African footprint and diversified income streams played a key role in its strong performance.
4. Access Bank – $459 million
Access Bank maintained steady growth, supported by its aggressive expansion strategy, corporate banking strength and strategic partnerships.
5. First Bank of Nigeria – $438 million
One of Nigeria’s oldest financial institutions, First Bank recorded solid profits, reflecting improved asset quality and operational restructuring.
6. Fidelity Bank – $180 million
Fidelity Bank posted notable gains, benefiting from retail banking growth and improved earnings across key segments.
7. Stanbic IBTC Bank – $146 million
Stanbic IBTC’s performance was supported by its strong investment banking, wealth management and corporate banking services.
8. Union Bank of Nigeria – $50 million
Union Bank returned modest profits as it continues its transformation and modernization drive.
9. First City Monument Bank (FCMB) – $47 million
FCMB recorded steady earnings amid ongoing efforts to strengthen its balance sheet and expand retail banking.
10. Ecobank Nigeria – $12 million
Ecobank Nigeria completed the list with modest profits, reflecting restructuring efforts and challenging operating conditions.
The figures highlight the dominance of Nigeria’s tier-one banks, while also showing how mid-tier lenders are gradually improving profitability. As competition intensifies and digital banking adoption increases, analysts expect further shifts in the rankings in the coming years.
Source: African Banker Magazine, 2025