Access Bank Tops Nigerian Lenders in Africa’s Top 30 Ranking at $30.4bn
Nigeria’s biggest banks have secured their place among Africa’s 30 largest banks by total assets in 2026, but the latest ranking by Africa Trade Finance Company (ATFC) shows they remain mid-table on the continent.
According to the ATFC ranking, which is based on publicly available information and total assets in USD billions for 2026, five Nigerian banks made the top 30.
Access Bank Group leads the Nigerian pack at No. 14 in Africa, with $30.4 billion in total assets, making it Nigeria’s largest bank by asset size.
United Bank for Africa (UBA) follows at No. 18 with $22.6 billion, closely followed by Zenith Bank at No. 19 with $22.3 billion.
First Bank of Nigeria ranks No. 20 with $20.3 billion, while Guaranty Trust Bank (GTCO) comes in at No. 28 with $13.2 billion. The ranking underscores the dominance of South African and North African banks in the African financial system.
South Africa’s Standard Bank Group retains the crown as Africa’s biggest bank with $220.6 billion in assets, followed by FirstRand at $164.2 billion, National Bank of Egypt at $156.9 billion, Absa Bank at $137.2 billion and Nedbank at $100.1 billion.
Of the top 10, four are South African, two Egyptian, three Moroccan and one Algerian — no Nigerian bank cracked the top 10.
For context, the combined assets of the five Nigerian banks in the top 30 ($108.8 billion) are still less than those of Standard Bank alone.
The top 30 banks are drawn from key economies, including South Africa, Egypt, Morocco, Nigeria, Algeria, Kenya, Ethiopia, Mauritius, and Togo, with Togo’s Ecobank, at $34.5bn, ranking 12th as the leading pan-African institution.
The report notes that beyond balance sheets, these institutions are key participants in trade finance, corporate banking, project finance and cross-border transactions — critical as African economies expand and intra-African trade under AfCFTA grows.
For Nigeria’s Tier-1 banks – traditionally classified as FUGAZ (FirstBank, UBA, GTCO, Access, Zenith) – the ranking reaffirms Access Bank’s asset leadership following its aggressive expansion, while showing UBA and Zenith in a tight race for second place among Nigerian lenders. #Access Bank Tops Nigerian Lenders in Africa’s Top 30 Ranking at $30.4bn# Access Holdings Driving Volume, Buying Momentum Strengthens
