Five out of eight of the Central Bank of Nigeria (CBN’s) Systemically Important Banks (SIBs) that include Ecobank Transnational Incorporated, parent company of Ecobank Nigeria, Guaranty Trust Bank Plc, Access Bank Plc and two other financial institutions dominated 69.8 per cent industry total assets in 2016.
The other two financial institutions are United Bank for Africa Plc and Zenith Bank Plc. First Bank of Nigeria Holdings Plc, Diamond Bank Plc and Skye Bank Plc are yet to make public their 2016 financial year result and accounts.
According to LEADERSHIP findings, of the industry total assets of N30.22 trillion, the above financial institutions in 2016 recorded N21.1 trillion total assets in the year under consideration with loans and advances to customers and increased customers deposit contributing significantly.
Similarly, the SIBs accounted for N13.04 trillion (70.25 per cent) of total industry deposits of N18.56 trillion and N11.76 trillion (72.2 per cent) of the aggregate industry loans of N16.29 trillion.
Ecobank Transnational Incorporated, a pan-African Bank dominated that banking industry with total asset that gained 33.3 per cent to N6.3 trillion in 2016 from N4.69 trillion in 2015. Ecobank Nigeria recorded $6,183 million in total assets in 2016 while Customer deposits and net loans closed 2016 at $3,537 million and $2,854 million respectively.
First Bank of Nigeria Holdings Plc total assets hits N5.1 trillion in third quarter of 2016 and analysts have expressed that the Holdings company assets might attain the N6 trillion threshold in 2016.
On Ecobank, Deposits from customers and Loans and advances to customers closed 2016 at N4.1 trillion and N2.8 trillion respectively.
Zenith Bank total assets rose by 18.3 per cent from N4 trillion to N4.7 trillion while loans and advances of the Group grew by 16 per cent to close at N2.3 trillion as at December 31, 2016; mainly due to the devaluation of the Naira. Also, Zenith Bank’s Customers deposits increased by 16.6 per cent to N2.98 trillion from N2.56 trillion recorded in 2015.
United Bank for Africa, Access Bank and Guaranty Trust Bank achieved N3 trillion total assets in 2016. United Bank for Africa top the chart with N3.5 trillion in total assets in 2016, 27 per cent increase over N2.75 trillion in 2015, followed by Access Bank that has N3.48 trillion in total assets in 2016 from N2.59 trillion in 2015.
Guaranty Trust Bank’s total assets hits N3.1 trillion, compared to N2.5 trillion as at 2015, a 23.4 per cent growth driven by 29 per cent increase in Total Deposits to N2.1 trillion in 2016 while Total Net Loans and Advances gained 16 per cent from N1.37 trillion to N1.59 trillion recorded in 2016.
It will be recalled that as at December 2015, the total assets of the banking industry in Nigeria stood at N27.04trillion, a decrease of 1.77 per cent from N27.53trillion as at December 2014.
Aside Ecobank, the bank with the largest assets remains First Bank of Nigeria Holdings with total assets of N4.17trillion accounting for 15.41 per cent of the industry total assets. This was followed by Zenith Bank with total assets of N4.01trillion and accounted for about 14.82 per cent of the industry size.
The five largest banks by assets size, FBN Holdings, Zenith Bank, United Bank for Africa, Access Bank and Guaranty Trust Bank accounted for 59.33 per cent of the industry total assets size. The largest contributor to the industry total assets was Loan and advances which stood at N12.56trillon and accounted for 46.45 per cent of the total assets.