Nigeria Banks Market Summary, Competitive Analysis and Forecast to 2027

Key Highlights

• The banks industry profile comprises activities of banks and similar institutions, offering savings, loans, mortgages, and related financial services to consumers and businesses.
• The Nigerian banks industry group had total assets of $337.2 billion in 2022, representing a compound annual growth rate (CAGR) of 15.2% between 2017 and 2022.
• The bank credit segment accounted for the industry group's largest proportion in 2022, with total assets of $98.8 billion, equivalent to 29.3% of the industry group's overall value.
• The Nigerian banks industry group has expanded recently owing to several factors, such as a robust regulatory framework, a growing economy, increasing interest rates, and a highly skilled labor population. According to in-house research, the real GDP annual growth of Nigeria stood at 2.9% in 2022.

Scope

• Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the banks market in Nigeria
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the banks market in Nigeria
• Leading company profiles reveal details of key banks market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria banks market with five year forecasts by both value and volume

Reasons to Buy

• What was the size of the Nigeria banks market by value in 2022?
• What will be the size of the Nigeria banks market in 2027?
• What factors are affecting the strength of competition in the Nigeria banks market?
• How has the market performed over the last five years?
• Who are the top competitors in Nigeria's banks market?