In 2025, Nigeria's tier-1 commercial banks demonstrated varying degrees of financial strength, with Access Holdings Plc leading in total assets and Guaranty Trust Holding Company (GTCO) posting the highest profit margin, according to an analysis of their audited financial statements for the year ended December 31, 2025.
Access Holdings Tops in Total Assets
Access Holdings Plc reported total assets of N23.4 trillion, making it the largest bank by asset size among the tier-1 lenders. This represents a 22% increase from the N19.2 trillion recorded in 2024. The growth was driven by a significant expansion in loans and advances to customers, which rose by 28% to N11.2 trillion, as well as investment securities that grew by 18% to N8.9 trillion.
According to the bank's statement, the asset growth was supported by a strong deposit base, which increased by 20% to N15.6 trillion. Access Holdings' managing director, Herbert Wigwe, commented, "Our focus on digital banking and customer acquisition has paid off, enabling us to maintain our position as Nigeria's largest bank by assets."
GTCO Leads in Profitability
Guaranty Trust Holding Company (GTCO) reported a profit after tax of N820 billion for 2025, representing a profit margin of 38% – the highest among its peers. The bank's gross earnings stood at N2.16 trillion, up 15% from N1.88 trillion in 2024. Net interest income contributed N1.4 trillion, while non-interest income added N760 billion.
GTCO's cost-to-income ratio improved to 42% from 45% in the prior year, reflecting efficient cost management. The bank's CEO, Segun Agbaje, stated, "Our disciplined approach to risk management and operational efficiency has allowed us to deliver superior returns to shareholders."
Zenith Bank Shows Strong Growth
Zenith Bank Plc recorded total assets of N20.1 trillion in 2025, a 19% increase from N16.9 trillion in 2024. Profit after tax rose by 25% to N750 billion, driven by a 30% growth in interest income to N1.8 trillion. The bank's non-performing loan ratio improved to 4.2% from 4.8% in the previous year.
Zenith Bank's managing director, Ebenezer Onyeagwu, attributed the performance to "strategic investments in technology and a robust risk management framework." The bank declared a final dividend of N3.50 per share, bringing the total dividend for the year to N5.00 per share.
First Bank and UBA Follow
First Bank of Nigeria Limited, a subsidiary of FBN Holdings, reported total assets of N18.7 trillion, up 17% from N16.0 trillion in 2024. Profit after tax increased by 20% to N620 billion, supported by a 22% rise in net interest income. The bank's customer deposits grew by 18% to N12.5 trillion.
United Bank for Africa (UBA) Plc posted total assets of N16.2 trillion, a 15% increase from N14.1 trillion in 2024. Profit after tax rose by 18% to N540 billion, driven by strong performance in its Pan-African operations. UBA's CEO, Oliver Alawuba, noted that "the bank's diversification across 20 African countries helped mitigate risks in the domestic market."
Industry Outlook
Analysts expect Nigerian banks to continue focusing on digital transformation and cost optimization in 2026. The Central Bank of Nigeria's recent policy on loan-to-deposit ratio is likely to influence lending strategies. According to financial analyst Johnson Chukwu, "Banks with strong capital bases and efficient operations will continue to outperform. The key will be managing credit risk in a challenging economic environment."
Overall, the tier-1 banks demonstrated resilience in 2025, with aggregate total assets crossing the N100 trillion mark for the first time, reaching N101.6 trillion. The combined profit after tax stood at N3.2 trillion, up 22% from N2.6 trillion in 2024.
