The Central Bank of Nigeria (CBN) has released the list of
banks operating in Nigeria, as at the 30th of September, 2018.
The report which was released on Monday is titled The List
of Deposit Money Banks and Financial Holding Companies Operating In Nigeria.
The report includes the list banks and the addresses of their operating head
offices.
Commercial Banks
The CBN report groups commercial banks into three
categories:
Nine commercial banks are licensed with international
authorisation and they include Access Bank, Diamond Bank, Fidelity, FCMB, First
Bank, Guaranty Trust Bank Plc, Union Bank, UBA and Zenith Bank.
10 other commercial banks along with the first 9 are
licensed with only national authorization for commercial banking. They are
Citibank, Ecobank, Heritage Bank, Keystone Bank, Polaris Bank and Stanbic IBTC.
Others include Standard Chartered Bank, Sterling Bank, Unity Bank and Wema
Bank.
The last categories of commercial banks are those licensed
with regional authorization and they are Suntrust Bank and Providus Bank Plc.
Merchant Banks
The report shows that there are only five licensed merchant
banks operating in Nigeria with national authorization, as at the end of
September 2018: Coronation Merchant Bank, FBN Merchant Bank and FSDH Merchant
Bank. Other Merchant Banks operating in Nigeria include Rand Merchant and Nova
Merchant Bank.
Financial Holding Companies and Non-interest Banks
According to CBN, only three companies are licensed for
financial holdings in Nigeria as September 30, 2018. They are FBN Holdings PLC,
FCMB Group PLC and Stanbic IBTC Holdings Plc.
Meanwhile, Jaiz Bank Plc remains the only company with a
non-interest banking licence that has national authorization in Nigeria.
Polaris Bank
It will be recalled that CBN a few weeks ago revoked the
operating licence of Skye Bank Plc with AMCON taking over all the assets and
liabilities of the defunct Skye Bank. The name was immediately changed to
Polaris Bank.
The apex bank later cited the bank’s urgent need for
capitalization, as shown by the results of its examinations and forensic audit,
as the reason for revoking its licence.
