CBN reveals list of authorized deposit money banks

Amid the rush for recapitalization, four depository banks in the country have upgraded their banking license from regional banking to national banking license as the number of banks in the country increases to 44.

In the newly released list of financial institutions licensed by the Central Bank of Nigeria (CBN), there are now seven international banks, 15 banks with national licenses, four with regional licenses, four non-interest banks, six commercial banks, seven financial holding companies. companies and a representative office in the country.

This list, which is publicly accessible on the official website of the CBN, shows that the internationally chartered banks 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.

The national charter licensed banks are 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.

Regional licenses are held by Providus Bank Limited, Parallex Bank Limited, Suntrust Bank Nigeria Limited and Signature Bank Limited in the commercial banking segment, while nationally licensed non-interest banking sector players are Jaiz Bank Plc, Taj Bank Limited , Lotus Bank Limited. and Alternative Bank Limited.

Merchant banking entities include 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 list also includes financial holding companies such as 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.

Mauritius Commercial Bank Representative Office (Nigeria) Limited was the only representative office included in the list.