First Bank of Nigeria Limited has retained its position among the top three banks in Nigeria for 2025, affirming its status as the country’s most enduring and institutionally resilient bank.
According to the 2025 Nigerian Bank Rankings released by industry analysts and corroborated by the Central Bank of Nigeria (CBN), First Bank currently ranks third overall — trailing Access Bank Plc and Zenith Bank Plc — based on asset base, customer reach, branch network, and historical performance.
With total assets now surpassing ₦13.1 trillion, and a customer base of over 36 million, First Bank continues to lead in retail banking, financial inclusion, and SME support, particularly in underserved communities.
First Bank 2025 Key Ranking Metrics:
- Ranking Position: #3 in Nigeria
- Total Assets: ₦13.1 trillion
- Customer Base: Over 36 million active customers
- Branch Network: Largest physical footprint in Nigeria with 750+ locations
- Digital Banking: Significant improvement in mobile and agency platforms
- Legacy: Over 130 years of continuous banking operation
Speaking on the ranking, the CEO of First Bank Nigeria Ltd, Dr. Adesola Adeduntan, emphasized the bank’s commitment to modernization while preserving its trusted legacy:
“We are proud to be the bridge between Nigeria’s financial history and its digital future. Our focus remains on inclusive growth, digitization, and long-term sustainability.”
Why First Bank Remains a Top-Tier Contender
- Legacy and Trust: As Nigeria’s oldest bank (established in 1894), First Bank enjoys unparalleled brand loyalty and institutional trust.
- Financial Inclusion: Through its agency banking network (FirstMonie), the bank has empowered over 150,000 agents nationwide, reaching deep into rural and semi-urban areas.
- SME Support: First Bank is consistently ranked as a top SME lender in Nigeria, offering tailored financial solutions to micro and small businesses.
- Digital Innovation: Once lagging behind in tech, the bank has caught up with robust mobile and internet banking offerings, earning an A− rating in digital competitiveness for 2025.
Industry Perspective
Banking analyst Dr. Chijioke Umeh commended the bank’s steady evolution:
“First Bank is no longer just an old name — it is a reinvented force. The institution has proven that legacy can evolve, and that staying power in the financial world matters.”
Challenges and Outlook
While its competitors, such as Access Bank and Zenith Bank, continue to dominate in asset growth and profitability, First Bank’s strength lies in customer base expansion, grassroots banking, and historic credibility. The bank is expected to push further into digital lending, ESG financing, and cross-border trade support in West Africa.
As Nigeria’s financial sector continues to evolve, First Bank of Nigeria Ltd remains a solid pillar — bridging tradition and transformation, and proving that relevance in banking is earned through both heritage and innovation.