Business & Strategy

CBN Unveils Roster of Licensed Deposit Money Banks

Written by Jerry Alomatu on May 8, 2024

News Views: 59

The latest release from the Central Bank of Nigeria provides a comprehensive rundown of licensed Deposit Money Banks operating across the nation.

In a move to shed light on Nigeria’s banking landscape, the list was publicly disclosed on the CBN’s official website earlier this week.

Among the institutions holding international authorization are Access Bank Limited, Fidelity Bank Plc, First City Monument Bank Limited, First Bank Nigeria Limited, Guaranty Trust Bank Limited, United Bank of Africa Plc, and Zenith Bank Plc.

In the realm of commercial banks with national authorization, notable names include Citibank Nigeria Limited, Ecobank Nigeria Limited, Heritage Bank Plc, Globus Bank Limited, Keystone Bank Limited, Polaris Bank Limited, Stanbic IBTC Bank Limited, Standard Chartered Bank Limited, Sterling Bank Limited, Titan Trust Bank Limited, Union Bank of Nigeria Plc, Unity Bank Plc, Wema Bank Plc, Premium Trust Bank Limited, and Optimus Bank Limited.

Commercial banks holding regional licenses encompass Providus Bank Limited, Parallex Bank Limited, Suntrust Bank Nigeria Limited, and Signature Bank Limited.

In the non-interest banking sector, institutions with national authorization include Jaiz Bank Plc, Taj Bank Limited, Lotus Bank Limited, and Alternative Bank Limited.

Merchant banking category players as listed by the apex bank comprise Coronation Merchant Bank Limited, FBN Merchant Bank Limited, FSDH Merchant Bank Limited, Greenwich Merchant Bank Limited, Nova Merchant Bank Limited, and Rand Merchant Bank Limited.

The financial holding companies featured in the release are Access Holdings Plc, FBN Holdings Plc, FCMB Group Plc, FSDH Holding Company Limited, Guaranty Trust Holding Company Plc, Stanbic IBTC Holdings Plc, and Sterling Financial Holdings Limited.

Additionally, the release mentions the Mauritius Commercial Bank Representative Office (Nigeria) Limited as the sole representative office.