The Central Bank of Nigeria (CBN) has disclosed an extensive list detailing licensed Deposit Money Banks (DMBs) operating across Nigeria. Since Tuesday, this list on the CBN’s website is a crucial resource, providing insights into Nigeria’s intricate banking system.
Additionally, this comprehensive compilation highlights banks that hold international authorization, thereby affording them the privilege to conduct banking activities globally. Noteworthy institutions like Access Bank Limited, Fidelity Bank Plc, and Zenith Bank Plc prominently feature in this category. Contrastingly, banks with national authorization, such as Citibank Nigeria Limited and Ecobank Nigeria Limited, highlight Nigeria’s diverse banking services. These institutions, with their national authorization, cater to specific banking needs within the country, providing a range of services.
Moreover, the roster delineates commercial banks possessing regional licenses, serving specific geographic regions within the country. Examples such as Providus Bank Limited and Parallex Bank Limited highlight the localized nature of banking operations.
The incorporation of the non-interest banking sector, exemplified by institutions like Jaiz Bank Plc, emphasizes diversity. Moreover, this inclusion showcases the sector’s dedication to providing Sharia-compliant banking services, addressing varied financial requirements. It underscores the industry’s commitment to inclusivity, ensuring accessibility to a wide range of banking options.
Moreover, this comprehensive compilation showcases the diverse landscape of Nigeria’s banking industry, offering consumers and investors abundant choices. It reflects the dynamic nature of the sector, presenting numerous opportunities for stakeholders.
Below are list of Deposit Money Banks (DMBs) as listed by CBN:
- Access Bank Plc
- Citibank Nigeria Limited
- Ecobank Nigeria Plc
- Fidelity Bank Plc
- First Bank Nigeria Limited
- First City Monument Bank Plc
- Globus Bank Limited
- Guaranty Trust Bank Plc
- Heritage Banking Company Ltd.
- Keystone Bank Limited
- Optimus Bank
- Parallex Bank Ltd
- Polaris Bank Plc
- Premium Trust Bank
- Providus Bank
- Standard Chartered Bank Nigeria Ltd
- Signature Bank Limited
- Stanbic IBTC Bank Plc
- Sterling Bank Plc
- SunTrust Bank Nigeria Limited
- Titan Trust Bank Ltd
- Union Bank of Nigeria Plc
- United Bank For Africa Plc
- Unity Bank Plc
- Wema Bank Plc
- Zenith Bank Plc
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