The Central Bank of Nigeria has just released a thorough rundown of authorized Deposit Money Banks (DMBs) functioning within the nation. This list, publicly disclosed on the CBN’s official website this Tuesday, sheds light on Nigeria’s banking sphere.
Major Bank Players:
- International Banks: Among those granted international authorization are Access Bank Limited, Fidelity Bank Plc, First City Monument Bank Limited, First Bank Nigeria Limited, Guaranty Trust Bank Limited, United Bank of Africa Plc, and Zenith Bank Plc.
- National Commercial Banks: With national authorization, there are Citibank Nigeria Limited, Ecobank Nigeria Limited, Heritage Bank Plc, Globus Bank Limited, Keystone Bank Limited, Polaris Bank Limited, Stanbic IBTC Bank Limited, Standard Chartered Bank Limited, Sterling Bank Limited, Titan Trust Bank Limited, Union Bank of Nigeria Plc, Unity Bank Plc, Wema Bank Plc, Premium Trust Bank Limited, and Optimus Bank Limited.
- Regional Commercial Banks: Carrying regional licenses are Providus Bank Limited, Parallex Bank Limited, Suntrust Bank Nigeria Limited, and Signature Bank Limited.
- Non-Interest Banking Sector: Players in the non-interest banking sector, with national authorization, include Jaiz Bank Plc, Taj Bank Limited, Lotus Bank Limited, and Alternative Bank Limited.
- Merchant Banking Category: In the merchant banking category, the apex banks listed are Coronation Merchant Bank Limited, FBN Merchant Bank Limited, FSDH Merchant Bank Limited, Greenwich Merchant Bank Limited, Nova Merchant Bank Limited, and Rand Merchant Bank Limited.
- Financial Holding Companies: The financial holding companies listed were Access Holdings Plc, FBN Holdings Plc, FCMB Group Plc, FSDH Holding Company Limited, Guaranty Trust Holding Company Plc, Stanbic IBTC Holdings Plc, and Sterling Financial Holdings Limited.
- Representative Office: The Mauritius Commercial Bank Representative Office (Nigeria) Limited was listed as the sole representative office.
This release offers valuable insight into Nigeria’s banking sector, underscoring the diverse range of institutions operating within the country.
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