7 Top Banks in Nigeria for Personal and Business Banking


A bank is a financial institution authorised to accept deposits by a regulating body and lend surplus money to borrowers, and pay the depositor upon request.

A bank allows the depositor to open an account, make a withdrawal, pay third parties and, among other things, use a debit or credit card.

Banks sell their customers various goods and services such as personal and business banking goods. Personal banking is another term for domestic or retail banking which involves the bank directly or personally dealing with you.

When the bank works with a corporate entity or an incorporated company for corporate or business banking.

Most banks in Nigeria offer a mix of these services and if you own a small company, your concern is how to get a fast loan. But you want a safe deposit, for the daily saver.

The Nigeria Deposit Insurance Corporation will guarantee your deposit of up to N500,000 in all Nigerian commercial banks in the event CBN closes any of these.

To help you filter the best out of the number of banks, we’ll list ten of the best personal and business banking banks in Nigeria to allow you to make an informed choice. Let’s begin with a few examples of both services.

Examples of Personal banking system in Nigeria

Examples of personal banking include savings account, deposit certificate, credit and debit cards, automobile or house financing and foreign currency remission .

There is also private banking service (for high net worth individuals), insurance, stock trading, and wealth management, which the bank can offer to you through its subsidiary business. Supplementary support requires online banking.

Examples of Business banking system in Nigeria

Corporate banking or corporate banking services include loans and advances, treasury services, machinery leasing, trade finance, and SME loans, electronic banking, POS, and more.

After giving you some examples of personal and business banking, let’s go straight to the list and quickly check out the best banks.


Below is a list that shows the top banks where you can perform personal and business banking in Nigeria.


First Bank is one of Nigeria’s top banks for personal and business banking. This bank is true to its brand name, and is really taking the lead in terms of personal banking services.

The bank, which started in 1894, now has approximately 900 branches in Nigeria across ten African countries as well as the UK. First bank employs almost ten thousand employees, and its revenues have continued to grow.

The bank won five times in a row the “Asian Banker International Excellence” award for best personal banking brand to show how well the bank has been able to serve its personal banking clients.

It’s personal banking options include loans and mortgages, credit cards, payment systems, electronic banking and A.T.M and P.O.S and diaspora banking, cash transfer and fixed deposit.

The bank also serves its corporate banking clients well, and its loan portfolio continues to expand even as its deposit base continues to grow.

Rest assured First Bank will provide you with the best of both services. Book, S.M.E. connect, loans, e-systems, payment solutions, Agric finance, and mortgages are its business banking products.



The chattered I.B.T.C. bank started in 1989 and merged with Stanbic Bank Group in 2007. It is now part of the Standard Bank Group with the Johannesburg, South Africa headquarters.

The bank offers excellent banking services locally with 560 Physical ATMs in well over 180 branches. Its professional workforce is up to 3,000, and will continue to expand to meet the demand for excellent services.

The top-notch global remittances service. If you are living abroad in Nigeria, you can open a non-resident Nigerian bank account with the bank as transaction costs are low, and it’s easy to monitor your account from anywhere you live abroad.

The personal and business banking service offered by the bank is first class, with an unbeatable range of services including financial advice services, loans, deposits, shares, debit and credit cards, mortgages, pensions, and stockbroking. The I.B.T.C place Walter Carrington Crescent Victoria Island Lagos is its head office.


Guaranty Trust Bank Plc (GTBank) is a limited liability company that was founded in 1990 to carry on the banking business and started operating in February 1991. In September 1996 the bank listed its stocks on Nigerian stock exchange.

Over the years its asset base is now more than 3 trillion naira due to sound management. The bank has a UK subsidiary, and branches in some African countries such as Ghana and Uganda.

GTBank uses its skilled personnel to deliver outstanding personal and business banking services to customers.

The personal banking service of GTbank includes the opening of savings and current accounts, the Nigerian non-resident service and private banking, online banking and A.T.M

While the business banking provides you with access to a GT business account, corporate and commercial banking, S.M.E., loans and advances, etc.


Zenith Bank P.L.C. is a leading conglomerate that uses cutting-edge technology and leads financial services worldwide while the other banks follow.

The bank was founded in May 1990, and began operating with a commercial bank license in July of the same year.

It became a Public Liability Company (P.L.C) in 2014. It also has 500 branches in Nigeria and subsidiary offices in the UK, Ghana, South Africa and more to meet demands for its services.

Zenith provides various personalized banking services to customers including S.M.E. Banking, Personal Banking, Corporate Banking, Investment and Loans, Bank Account, Asset Management Solutions, Electronic Banking, A.T.M, and P.O.S.No wonder it is now one of Africa’s biggest banks.


Standard Chartered Bank, Nigeria is another of the top banks in Nigeria for personal and business banking. Its headquarter is in London, and its branches about 1,200 worldwide. The bank boasts banking experience of over 150 years.

Standard Chartered Bank Nigeria started operations on 15 September 1999 and as of 2013 has 22 branches with A.T.M’s and more than 900 employees.

The Bank in Nigeria offers one of the best business banking services with a free online banking platform that is reliable, safe, and easy to use, plus a fair exchange rate.

Having said that, its retail banking services are equally receptive to customer demands. Its products include personal banking, priority banking, and retail client accounting.

While its corporate and institutional services include investment banking, priority banking, and SMEs (S.M.E.). Its local headquarter is located at 142 Ahmadu Bello Way, Victoria Island, Lagos.


Another bank for personal and business banking in this list of Nigeria’s best banks is U.B.A. This bank started in 1949 and traded the stock on the Nigeria Stock Exchange.

Like its contemporaries, Tony Elumelu has undergone much transformation. Before his tenure as MD he merged U.B.A. with Standard Trust Bank in 2005. Done.

As a result, the bank is considerably more nimble than the former conservative company.

U.B.A. is ready to serve clients and build a business that can continue to progress strategically across all the services it provides to consumers in its branches in 22 African countries and be ahead of other banks.

The core services are corporate banking and personal banking, which include S.M.E. banking and internet banking, money transfer, treasury, exchange and investment, current account, P.O.S., A.T.M., and online banking, and more.


The last bank in this list of the best personal and business banking banks in Nigeria is F.C.M.B. This bank, initially referred to as First City Merchant Bank and launched in 1982, developed from City Securities Limited, which began 1977.

It became First City Monument Bank in 2001, and was given a universal banking license.

In Nigeria F.C.M.B. has approximately 5.1 million customers and 206 branches. It owns a UK subsidiary bank by F.C.M.B. Bank (U.K.) Limited. The Bank aims at being African’s best financial services company

F.C.M.B. provides its clients personal banking products, business banking solutions, and other corporate products.

Its various financial services include micro-lending, asset management, stock-broking, treasury and custodial services, foreign exchange, personal banking, corporate and commercial banking, investment banking, A.T.M’s, P.O.S., and online banking.

Other products it provides customers includes the public sector, financial institutions, small and medium-sized companies, business and liquidity management solutions, and more. Headquartes of this bank is in Primrose Tower, 17A Tinubu Street , Lagos, Nigeria.

Komolafe Timileyin is a passionate entrepreneur that loves to solve entrepreneurial issues. He is also a blogger and an upcoming Engineer.

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