Guaranty Trust Bank, United Bank for Africa, Zenith Bank Plc and Access Bank Plc recorded N14.8 trillion in total assets for the financial year ended 2016.This represents an increase of 25 per cent or N2.97 trillion over N11.87 trillion recorded in 2015.

The only bank among them with over N4 trillion in total assets is Zenith Bank, with 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.

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.

Key contributors to Guaranty Trust Bank ‘s total assets include properly structured balance sheet with interest earning assets accounting for 74per cent and non-interest earning assets of 26 per cent largely due to sterilization of27.5 percent  of Customers’ deposits in Cash  Reserve Ratio(CRR).

Also, Guaranty Trust Bank’s fixed income securities stabilized at 19per cent of the Balance sheet despite marked growth of the FCY balance sheet.

The bank total Loan book grew by 15.8per cent from N1.372 trillion in 2015 to N1.590 trillion in 2016, mainly driven by impact of devaluation on foreign currency loans with FCY loans comprising 55per cent of the loan book.

Guaranty Trust Bank’s total deposit up by 29 per cent to N2.11trillion  from N1.63trillion in 2015;growth in deposits orchestrated by an impressive growth in low cost funds of 35.5 per cent while tenured deposits declined by 8.3 per cent.

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.

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 nof the total assets.

The total customer deposits liabilities which represent depositors’ confidence in the banking industry stood at N18.07trillion as at December 31, 2015. This represents a decrease of 4.76 per cent from N18.97trillion in December 31, 2014.


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