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Q1’22: 11 banks’ assets rise by 4.8% to N52.03trn

  • Tier 2 lenders make progress

Total assets of 11 deposit money banks in the country rose by 4.85 per cent to N52.03 trillion at the end of the first quarter of this year from N49.62trillion at the end of December 2021, the lenders’ unaudited results for the period ended 31 March 2022, show.

 

The banks are Access Bank, Zenith Bank, Guaranty Trust Holding Company (GTCO), United Bank for Africa (UBA), Stanbic IBTC, Fidelity Bank, First City Monument Bank (FCMB), Union Bank, Sterling Bank, Wema Bank and Unity Bank.

 

New Telegraph’s analysis of the unaudited financial statements for the period ended March 31, 2022, released by the 11 banks, shows that Access Bank continues to maintain its position as the largest lender in the country by assets, as its unaudited results for Q1’22 put its total assets at N12.08 trillion, compared with assets of N11.73 trillion that the Tier 1 bank

 

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