An asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity. Assets are broken down into two main categories. These two categories are current assets and non-current assets. In this educational article, we list the 2018 top banks in Nigeria by assets
Total assets are the sum of all current and non-current assets and must equal the sum of total liabilities and stockholders’ equity combined. The final amount of all cash and cash equivalents, financial assets held for trading, derivative financial assets, investments securities (those available for sale and held to maturity), assets pledged as collateral, loans and advances to banks and customers, restricted deposits and other assets, investment in subsidiaries, property and equipment, intangible assets and assets classified as held for sale as they are presented on the balance sheet.
Loans and advances to customers accounts for major proportion of the total assets, followed by cash and cash equivalents. Intangible assets accounts for least proportion of the total assets.
Total assets = liabilities + stockholders’ equity
The 2018 top banks in Nigeria by assets
From the figure above Zenith Bank has the highest total assets with #18,824,516,532,000, then Access Bank plc valued #3,499,683,979,000 and United Bank for Africa plc valued #2,931,826,000,000. Suntrust Bank Nigeria Limited has the lowest total assets with #26,558,632,000, followed by Stanbic IBTC Bank LTD valued #97,374,000,000 and Frist Bank Nigeria Limited valued #269,621,000,000 respectively in the year 2017.
The banks with highest total assets in the 2016 are Zenith Bank (#4,283,736,000,000), Access Bank (#3,094,960,515,000) and Guaranty Trust Bank (#2,613,340,074,000). While banks with the lowest assets are; Suntrust Bank Nigeria Limited (#17,524,985,000), Stanbic IBTC Bank Limited (#92,857,000,000) and First Bank Nigeria Limited (#266,903,000,000)
|Bank Name||Total Assets|
|2016 (‘000 Naira)||2017 (‘000 Naira)|
|Suntrust Bank Nigeria Limited||17,524,985||26,558,632|
|Stanbic IBTC Bank Ltd.||92,857,000||97,374,000|
|First Bank Nigeria Limited||266,903,000||269,621,000|
|Wema Bank Plc||421,221,036||385,388,304|
|Sterling Bank Plc||830,802,224||1,068,698,000|
|Union Bank of Nigeria Plc||1,123,483,000||1,334,921,000|
|Diamond Bank Plc||1,662,508,825||1,551,856,615|
|Guaranty Trust Bank Plc||2,613,340,074||2,824,928,985|
|United Bank for Africa Plc||2,539,585,000||2,931,826,000|
|Access Bank Plc||3,094,960,515||3,499,683,979|
|Zenith Bank Plc||4,283,736,000||4,833,658,000|