Nigeria has extended its dominance as the king of the banking sector in West and Central Africa, according to the 2025 Africa’s Top 100 Banks, occupying 12 of the region’s top 20 positions by Tier 1 capital.
“There are 12 Nigerian banks in the regional table, one fewer than last year, with three from Côte d’Ivoire, two from Ghana, and one each from Togo, Gabon, and DR Congo,” the report said. This is despite a 4.49 percent fall from $15.6 billion in 2024 to $14.9 billion in 2025, “as the region’s banks have struggled.”
The ranking signals a shift on the leadership board. Nigeria has emerged as both the largest contributor to the regional banking system and the central force shaping its structure and hierarchy.
According to the report, the CBN’s new capital requirements functioned as a springboard for these banks. Already, 20 banks have met the new capital rules ahead of the 30 March 2026 deadline.
There was a shuffle at the top wherein Access Bank emerged the winner, overtaking Zenith Bank and First Bank of Nigeria (FBN) as the largest bank in West and Central Africa, supported by a Tier 1 capital of approximately $2 billion and a balance sheet of about $26 billion. Its growth is increasingly global, with a footprint now spanning key hubs in Europe, Asia, and across Africa.
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Zenith Bank trails slightly with a Tier 1 Capital of roughly $2 billion, with a balance sheet of $19 billion. Zenith remains the region’s ‘profit engine’, recording a net profit of $668 million, the highest among all top 20 lenders.
The contrast between Access Bank and Zenith Bank highlights a strategic divide among Nigeria’s largest lenders. Access has prioritised scale, geographic reach, and balance-sheet growth, while Zenith has focused on efficiency, digital capability, and margin preservation. Both strategies have delivered resilience in a more demanding regulatory environment.
Closing out the top five are: United Bank for Africa (UBA) and Ecobank Transnational Incorporated (ETI).
ETI, headquartered in Togo remains the largest non-Nigerian bank in the table. With total assets of $28 billion – the largest among the top five – Ecobank’s diversified pan-African model continues to provide insulation from country-centric risks.
Three banks from Côte d’Ivoire represented francophone West Africa, while Ghana contributed two lenders to the top 20. Gabon, Togo and the Democratic Republic of Congo each had one bank in the ranking.
Central Africa remained the weakest sub-region, with Rawbank of the DRC the only lender to feature in the top 20. Although its Tier 1 capital of $421m is far below that of Nigeria’s leading banks, Rawbank’s position reflects its dominance in the Congolese market and the continued influence of commodity-linked activity on banking performance.
Overall, the 2025 ranking confirms Nigeria’s central role in the banking systems of West and Central Africa. While capital levels across the region remain under pressure, Nigerian lenders continue to dominate in terms of scale, profitability and balance-sheet strength.
As recapitalisation efforts continue into 2026, further movement within the rankings is likely, particularly among banks outside the top tier. Nigeria’s position at the core of the regional banking hierarchy, however, appears firmly established.