The Economic Confidential has discovered that before the intervention of Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC) in the banking sector in 2011, as at December 2010, nine of the banks had huge negative shareholders’ funds. Though the risk are minimal now after the establishment of bridge banks and the acquisition of weaker banks by stronger ones, going by the latest annual report on the sector, the Economic Confidential rank First Bank of Nigeria as the most healthy bank in Nigeria with N312 billion shareholders’ funds, followed by Zenith Bank N290 billion, United Bank for Africa N174billlion, Guaranty Trust Bank N174 billion and Access Bank N167billion.
Those on the danger list before the rescue efforts by CBN and NDIC were Intercontinental Bank, Union Bank, Bank PHB and AfriBank,
In the table below by the Economic Confidential shows Banks’ adjusted shareholders’ funds and ownership structure
| S/N | BANKS | SHAREHOLDERS FUNDS (IN BILLION) 2009 | SHAREHOLDERS
FUNDS (IN BILLION) 2010 |
FG GOVT. | PRIVATE (NIGERIAN) | FOREIGN |
| 1 | First Bank Nig. Plc. | 293.89 | 312.21 | — | 100% | — |
| 2 | Zenith Bank Plc. | 310.99 | 290.80 | 2.8% | 97.2% | — |
| 3 | United Bank for Africa Plc. | 114.48 | 174.69 | 3.27% | 96.73% | — |
| 4 | Guaranty Trust Bank Plc. | 141.82 | 174.49 | — | 100% | — |
| 5 | Access Bank Nig. Plc. | 154.30 | 167.61 | 1% | 99% | — |
| 6 | Fidelity Bank Plc. | 129.99 | 128.62 | — | 100% | — |
| 7 | First City Monument Bank Plc. | 132.17 | 127.43 | 0.47% | 99.53% | — |
| 8 | Diamond Bank Plc. | 98.31 | 110.36 | — | 100% | — |
| 9 | Skye Bank Plc. | 79.56 | 90.14 | 1% | 50% | — |
| 10 | Ecobank Plc. | 26.02 | 72.28 | — | 100% | — |
| 11 | Stanbic IBTC Bank Plc. | 74.61 | 66.09 | — | 100% | — |
| 12 | Standard Chartered Bank Ltd. | 29.66 | 35.92 | — | –(100% foreign) | 100% |
| 13 | Citibank Nigeria Ltd. | 31.68 | 32.17 | — | 18.1% (81.9% Foreign) | 81.90% |
| 14 | Sterlin Bank Plc. | 20.14 | 21.68 | — | 100% | — |
| 15 | Unity Bank Plc | (4.06) | 7.43 | 33.58% | 66.42% | — |
| 16 | Wema Bank Plc. | (3.22) | (3.49) | 2.80% | 97.2% | — |
| 17 | Equitorial Trust Bank Ltd. | (46.95) | (32.19) | — | 100% | — |
| 18 | Spring Bank Plc. | (94.08) | (92.40) | 12.33% | 83.39% (4.28% foreign) | 4.28% |
| 19 | Finbank Plc. | (123.70) | (123.23) | — | 100 | — |
| 20 | Oceanic Bank International | (192.20) | (127.91) | 5.30% | 94.70% | — |
| 21 | Bank PHB Plc. | (126.84) | (209.45) | 1% | 50% (49% Foreign) | 49% |
| 22 | Afribank Nigeria Plc. | (221.69) | (265.27) | — | 100% | — |
| 23 | Union Bank Plc. | (38.56) | (281.49) | — | 100% | — |
| 24 | Intercontinental Bank | (336.35) | (364.13) | — | 100% | — |
Table by the Economic Confidential magazine
