Guaranty Trust Holding Company Plc has emerged as the biggest commercial bank in Nigeria based on market capitalization.

Data obtained from the Nigerian Exchange showed that the combined market capitalization of 12 commercial banks stood at N10.78 trillion as of Friday, February 7, 2024.

Market capitalization refers to how much a company is worth as determined by the stock market.

It is calculated by multiplying the company's current share price by the number of shares outstanding.

10 largest banks in 2025

Here is the current ranking of the 10 biggest banks in Nigeria based on their market cap.

1. GTCO - N1.71 trillion

Guaranty Trust Holding Company Plc, the parent company of GTbank leads the table with a market capitalization of N2,18 trillion.

Its share value recently rose to its highest level ever, currently priced at N64.00.

2. Zenith Bank - N1.63 trillion

Based on share prices traded on Friday, Zenith Bank is the second largest bank in Nigeria. With a market valuation of N1.63 trillion, the bank's shares are priced closed on Friday at N52.00

3. Access Holdings - N1.49 trillion

Access Bank has once again joined the trillion club as its market valuation rose to N1.49 trillion on Friday following a rise in its share prices to N28

4. UBA - N1.34 trillion

United Bank for Africa has been overtaken by Access Bank and currently has a market value of 1.34 trillion. On Friday the bank's share price rose to N39.15.

5. FBN Holdings - N1.02 trillion

First Bank is ranked 5th with a market of N1.18 trillion. On Friday, Nigeria's oldest bank's share price closed at N33.00

6. Fidelity Bank - N560.21 billion

Fidelity Bank PLC's shares are valued at N17.50, and the company is worth N560.21 billion. The bank's stock declined 0.29%.

7. Stanbic Bank - N803.33 billion

Stanbic IBTC Holdings Plc, the parent company of Stanbic, is another bank that has risen in ranking, with a market capitalization of N803.33 billion, thanks to the rise in its share price to N62.

8. Fidelity Bank Plc - N665 billion

Fidelity Bank's share price rose to N20.80 which helped the bank's market capitalisation to N665.85 billion

9. Ecobank – N574.34 billion

Ecobank is ranked eighth with a market capitalization of N574.34 billion and a share price of N31.30.

10. FCMB- N471.30 billion

First City Monument Bank is the ninth-ranked bank with a market capitalization of N471.30 billion, while its share price is N11.90.

11. Wema Bank - N243.23 billion

Wema Bank Plc made it to the top 10 list with a market capitalization of N243.23 billion and a share price of N11.35.

Access Bank reached an agreement to buy South African bank

Legit.ng reported that Access Bank has continued to expand across the African continent and the world with the planned acquisition of another bank.

This latest is Bidvest Bank, the leading second-tier South African bank, in a deal worth over $159 million.

Roosevelt Ogbonna, the managing director/CEO of Access Bank Plc and CEO of the Banking Group, has revealed more targets.