Newsone Nigeria reports that the 2021 Top 1000 World Banks Ranking has been released by The Banker Magazine, a subsidiary of the Financial Times Group.
This online news platform understands that in the top 25 banks in Africa, Zenith Bank ranks number 12, followed by Guaranty Trust Bank on number 17, Access Bank on number 18, United Bank for Africa on number 21 and First Bank of Nigeria on number 25.
Best banks in Africa.
Newsone reports that the data released by The Banker Magazine, ranked Standard Bank Group, a South African bank as the best bank in Africa with two other South African banks, FirstRand and Absa Group, claiming second and third spots respectively.
After posting gains across the board in 2019, just three of South Africa’s seven lenders in this year’s rankings saw an increase in their Tier 1 capital position in 2020, as higher impairments took their toll on balance sheets.
Standard Bank maintained its position as Africa’s largest lender on the continent — a position it has held for over 20 years — with a 5.8% gain in its Tier 1 capital base. This means Standard Bank is the only one of South Africa’s big four to record such an increase. However, Standard Bank slipped five places in the overall Top 1000 to 157th place.
On the other hand, FirstRand and Absa Group placed second and third on the continent, respectively. The Tier 1 capital base of FirstRand dropped by 15.5%, and that of Absa Group also declined by 2.1%.
Below are the top 25 banks in Africa.
Similarly, National Bank of Egypt overtook South Africa’s Nedbank to become the continent’s fourth-largest lender. National Bank of Egypt also went up 22 places to occupy 215th position in the Top 1000. Nedbank placed fifth.
Also, local rival of the National Bank of Egypt, Banque Misr, recorded the continent’s best growth, with a staggering 84.2% rise in its Tier 1 position. This rise, a gain of 94 positions in this year’s Top 1000, makes it the sixth highest mover in this year’s overall rankings.
Banque Misr was followed by Morocco’s Attijariwafa Bank, which placed seventh. The top 10 banks in Africa were all from South Africa and two North African countries.
Best banks in Nigeria
The Banker Magazine report published in the July edition of the magazine, saw Zenith Bank PLC ranked as the best bank in Nigeria, topmost bank from West Africa was also Nigeria’s Zenith Bank which placed 12th. For East Africa, Kenya’s KCB Group ranked 20th.
Five Nigerian banks make the top 25 banks in Africa
Newsone Nigeria reports that the data released by The Banker Magazine, ranked Zenith Bank as Nigeria’s best bank, occupying the number 12 position on the top 25 best banks in Africa, followed by Guaranty Trust Bank on number 17, Access Bank on number 18, United Bank for Africa on number 21 and First Bank of Nigeria on number 25.
Meanwhile, Newsone Nigeria reports that the ranking was published in the July 2021 edition of The Banker Magazine of the Financial Times Group, United Kingdom. It was based on the 2020 year-end Tier-1 capital of banks globally.