Why Zenith Bank displaced First Bank to become largest bank in Nigeria
…As Ecobank leads only on W’African scale
Though all Nigerian banks’ half year reports are not yet completely released, available ones have indicated that Zenith Bank plc., may have outsmarted hitherto largest bank in Nigeria, First Bank to assume the choice position.
This is based on the reports so far released showing that whereas Zenith Bank’s total asset base is now NGN4.9 trillion, FBN Holdings’ stood marginally distant at NGN4.8 trillion total asset base.
Otherwise, Zenith Bank took over the position with a slight margin and either of FBN Holdings or Zenith might take the lead at by the time they both disclose their financials for the third quarter of the year.
On the side, Ecobank, registered as Eco Transnational Incorporated (ETI), is the largest financial services group in West Africa and not in Nigeria, because of its asset base aggregates all the asset position of its pan-African spread and its other subsidiaries.
Financial experts say, though all the expected results are not yet out, only Fist Bank has all it take to wrestle the number one position from Zenith Bank, but that may take time based on Zenith Bank’s business structure and management intelligence.
