Finance

• Konnect
• 5 Min Read
• 376 Views

Top 10 Banks In Nigeria With The Highest Customer Deposits In 2025

In 2025, Nigeria's banking sector demonstrated remarkable resilience and growth, particularly in terms of customer deposits. Despite economic challenges, the top banks in the country reported significant increases in deposits, reflecting enhanced customer confidence and effective banking strategies.

1. United Bank for Africa (UBA)

UBA led the sector with customer deposits reaching ₦22.97 trillion by September 2025, a substantial increase from ₦14.89 trillion in September 2023. This 54.24% growth underscores UBA's extensive reach across 20 African countries and its presence in the UK, France, the UAE, and the US. The bank's commitment to innovation and customer-centric services has been pivotal in attracting and retaining a vast customer base. 

2. Access Holdings (Access Bank)

Access Holdings reported customer deposits of ₦22.28 trillion in September 2025, up from ₦15.32 trillion in the same period the previous year, marking a 45.41% increase. This growth reflects the bank's strategic expansion and its focus on providing diverse financial products tailored to meet customer needs. Access Bank's international presence and innovative banking solutions have significantly contributed to its deposit mobilization efforts. 

3. Zenith Bank

Zenith Bank's customer deposits grew by 42.20%, rising from ₦13.38 trillion in September 2023 to ₦21.57 trillion in September 2025. This growth is attributed to the bank's strong brand reputation, efficient service delivery, and a wide range of financial products that cater to various customer segments. Zenith Bank's focus on digital banking and customer satisfaction has played a crucial role in attracting higher deposits. 

4. FBN Holdings (First Bank of Nigeria)

FBN Holdings saw a 56.84% increase in customer deposits, reaching ₦16.72 trillion in September 2025 from ₦10.66 trillion in December 2023. As one of Nigeria's oldest banks, First Bank's extensive branch network and longstanding customer relationships have been instrumental in this growth. The bank's emphasis on digital transformation and customer engagement has further enhanced its deposit base. 

5. Guaranty Trust Holding Company (GTCO)

GTCO's customer deposits increased by 44.14%, from ₦7.41 trillion in September 2023 to ₦10.68 trillion in September 2025. Known for its innovative banking solutions and strong corporate governance, GTCO has successfully attracted a diverse customer base. The bank's digital platforms and efficient service delivery have been key factors in its deposit growth. 

6. Fidelity Bank

Fidelity Bank reported a 51.52% increase in customer deposits, rising from ₦4.01 trillion in September 2023 to ₦6.08 trillion in September 2025. The bank's focus on SME banking, digital innovation, and personalized customer service has contributed to its growing deposit base. Fidelity Bank's strategic initiatives aimed at financial inclusion have also played a significant role in this achievement. 

7. Stanbic IBTC Holdings

Stanbic IBTC's customer deposits grew by 50.29%, from ₦2.07 trillion in December 2023 to ₦3.12 trillion in September 2025. The bank's affiliation with the Standard Bank Group and its comprehensive range of financial services have bolstered customer confidence and deposit growth. Stanbic IBTC's commitment to corporate banking and wealth management has been instrumental in attracting substantial deposits.

8. Sterling Financial Holdings Company

Sterling Bank's customer deposits increased by 33.42%, from ₦1.84 trillion in September 2023 to ₦2.46 trillion in September 2025. The bank's focus on the "HEART" sectors—Health, Education, Agriculture, Renewable Energy, and Transportation—has resonated with customers, leading to increased deposits. Sterling's innovative approach to banking and emphasis on sustainability have also contributed to its deposit growth. 

9. Wema Bank

Wema Bank experienced a 23.20% increase in customer deposits, rising from ₦1.86 trillion in September 2023 to ₦2.29 trillion in September 2025. As Nigeria's oldest indigenous bank, Wema's rebranding efforts and the success of its digital banking platform, ALAT, have attracted a younger, tech-savvy customer base, contributing to deposit growth. The bank's focus on digital innovation and customer-centric services has been pivotal in this achievement. 

10. Jaiz Bank

Jaiz Bank, Nigeria's premier non-interest (Islamic) bank, saw a 44.38% increase in customer deposits, from ₦224.46 billion in December 2023 to ₦324.08 billion in September 2025. The bank's adherence to Islamic banking principles and its appeal to customers seeking ethical banking options have driven this growth. Jaiz Bank's expansion efforts and focus on financial inclusion have also played significant roles in increasing its deposit base. 

Factors Contributing to Deposit Growth

Several factors have contributed to the impressive growth in customer deposits across these banks:

• Economic Environment: Despite economic challenges, including currency devaluation and inflation, customers have sought the safety and security provided by established banks, leading to increased deposits.

• Digital Transformation: Banks' investments in digital banking platforms have made banking more accessible and convenient, attracting a broader customer base and encouraging higher deposit rates.

• Financial Inclusion Initiatives: Efforts to bring unbanked and underbanked populations into the formal banking sector have expanded the customer base and contributed significantly to deposit growth. By targeting underserved demographics with innovative products and services, banks have successfully mobilized deposits from previously untapped markets.

• Customer-Centric Services: Banks have prioritized enhancing customer experiences through tailored financial products, loyalty programs, and efficient service delivery. This customer-focused approach has increased trust and deposit volumes.

• Strategic Expansion: Many banks have expanded their branch networks and operational presence both within and outside Nigeria, enabling them to attract more customers and mobilize deposits across diverse regions.

Conclusion

The top 10 banks in Nigeria in 2025 have demonstrated resilience, adaptability, and a commitment to customer satisfaction, reflected in their impressive customer deposit growth. These banks—led by United Bank for Africa (UBA), Access Bank, and Zenith Bank—have leveraged digital transformation, strategic expansion, and financial inclusion initiatives to achieve remarkable results. Their performance underscores the strength of Nigeria’s banking sector and its capacity to thrive amidst economic challenges.

As these banks continue to innovate and expand their services, they are well-positioned to maintain customer confidence and sustain growth. This trend highlights the critical role of robust banking institutions in fostering economic development and providing a stable foundation for financial security in Nigeria.