In your opinion (better still from your experience) which of the Nigerian banks do you consider to be the best for businesses?

Our Pharmacy is out shopping for a bank to domicile our banking operations with and we want to make sure we made informed decision. You might ask me why don't you walk up to the banks and find out? Yes, we have done that and we still are doing it. However, from my experience each bank thinks it offers the best services to its clients, which I consider highly subjective. In this case, finding out from business owners on Nairaland seems like the most objective and most direct way to find out what banks to avoid and why; and which banks manage to please their clients the most.

In advance, I am grateful for your unrestrained contributions and advice.

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U better use 'KOLO' or that wooden box with hole on the top, no bank in Nigeria is business friendly

Jaiz bank, am a Christian and am banking with them, their services are okay and they don't take interest instead they share your profit with you by ratio 25:75 which is very okay to me.

Bishopmayowa:
U better use 'KOLO' or that wooden box with hole on the top, no bank in Nigeria is business friendly

You're funny one aren't you. You forget that business banking isn't the same as you saving your N20 lunch money to buy cloth at xmas...
I might even agree that no bank in Nigeria is business friendly, but I want to have the best of these unfriendly ones.

adebayo4ng:
Jaiz bank, am a Christian and am banking with them, their services are okay and they don't take interest instead they share your profit with you by ratio 25:75 which is very okay to me.

Thank you adebayo4ng. Jaiz bank is located mainly in the North and in Lagos while my business is not. As a business we require a bank with easily accessible branchs.
Plus, I believe a bank charging an interest (say 25%) is much better for a business than have the bank claim 25% of the profit.
For instance from 10m loan the business will only pay 2.5m as interest on the principal per annum (assume simple interest), which some pharmacies can turn over in a single month. By the time you turn this over 12 times in a year (compounding principal now), you can have a fair idea of how much the profit is in a year. And for a bank to want 25% of such profit is simply asking for too much.

I understand this may serve a good purpose for individuals, but for businesses like mine it's not an option.

pls ill like to have more info about jaiz bank. must i be a salary earner before i collect loan from them? thanks