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Two Nigerian Tier 1 banks, Zenith Bank and Access Holdings Plc, have successfully surpassed the N500 billion threshold for share capital and share premium set by the Central Bank of Nigeria (CBN) for banks operating internationally.
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According to the Proshare report, “Tier 1 Banks Report: Getting Bigger, Braver, and Dominant – The Class of 2025,” Zenith Bank leads with N614.65 billion, followed by AccessCorp with N594.90 billion. Other Tier 1 banks, Ecobank and Guaranty Trust Holding Company, trail behind with N353.51 billion and N345.30 billion, respectively.
The report highlights a shift in banking dynamics, with Ecobank displacing Zenith Bank from the top due to its 67.11% asset growth. Fidelity Bank is projected to return to Tier 1 classification by the end of 2025 despite a N225 billion Supreme Court judgment liability.
The analysts noted that the recapitalization drive is happening in a different era, “hinged on a shift in the needs of bank customers” for bespoke services. They also flagged concerns about non-performing loans and underutilization of balance sheet leverage in the Nigerian banking sector.
Despite potential short-term pressures, the report concludes that the long-term outlook remains positive as banks enhance capital adequacy ratios and risk management frameworks. The CBN’s recapitalization timeline, ending in March 2026, is considered realistic, with most banks making progress
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