10 banks hold 77 percent of banking deposits

Nigeria’s top 10 banks which include three of the rescued banks, control 77 percent of the total deposits of the banking industry (as at the close of 2010) data obtained by BusinessDay has shown.

First Bank with a deposit base of N1.33 trillion had the highest deposits in the Nigerian banking industry as at the close of 2010. It was followed by Zenith Bank with a deposit base of N1.29 trillion while UBA ranked third with a deposit base of N1.27 trillion. GTBank ranked fourth with a deposit base of N713 billion as at the close of 2010.

Union Bank had the fifth highest deposits of N648 billion as at the end of 2010 followed by Oceanic Bank with a deposit base of N637 billion for the same period.

It was followed by Intercontinental Bank Plc which had the seventh highest deposit among Nigerian banks of N626 billion.

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