Five Nigerian banks have strengthened their positions in the 2026 Africa Top 100 Banks ranking, reflecting the impact of the country’s banking recapitalisation programme on lenders’ capital positions.
The banks featured in the latest ranking are United Bank for Africa (UBA), Access Bank, Zenith Bank, Guaranty Trust Bank (GTBank) and Stanbic IBTC.
According to the ranking published by African Business, the combined Tier 1 capital of Nigerian banks included in the Top 100 rose 48% to $15.2 billion, up from $10.3 billion a year earlier. Tier 1 capital is a key measure of a bank’s financial strength because it consists largely of core capital, reserves and retained earnings.
The stronger showing comes after Nigerian banks raised additional capital to meet new requirements introduced by the Central Bank of Nigeria (CBN).
UBA recorded one of the biggest improvements, climbing five places to 15th from 20th. Its Tier 1 capital increased from $1.7 billion to $2.7 billion, allowing it to move ahead of Access Bank in the ranking.
Access Bank, meanwhile, dropped three places to 17th despite increasing its Tier 1 capital from about $2 billion to $2.46 billion.
GTBank also moved five places higher to 25th, as its Tier 1 capital increased from $1.1 billion to $1.77 billion.
Zenith Bank fell four places to 20th despite adding roughly $600 million to its Tier 1 capital.
The decline reflects the rapid growth in capital among other major African banks rather than a deterioration in Zenith’s capital position.
Stanbic IBTC recorded the most dramatic movement among the Nigerian lenders.
The bank jumped 35 places from 80th to 45th after its Tier 1 capital more than doubled from $290 million to $735 million.
The performance of Nigerian banks also contributed significantly to the wider growth recorded across West and Central Africa.
Combined Tier 1 capital in the region increased by 32% to $19.6 billion, with Nigerian lenders accounting for much of the increase.
Across Africa, the combined Tier 1 capital of the Top 100 banks increased 23% to $155 billion, while total assets rose 16% to $1.8 trillion.
The latest ranking highlights how recapitalisation is beginning to reshape Nigeria’s banking sector. With stronger capital bases, local lenders are better positioned to finance larger businesses, infrastructure projects and expansion across African markets.
The development also strengthens Nigeria’s position within the continent’s banking industry, as its leading lenders seek to compete more effectively with major institutions in North and Southern Africa.
For investors, the improved rankings provide another indication that the recapitalisation exercise is having a measurable impact on the financial strength and scale of Nigeria’s banking sector.
