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Nigeria: Thirteen Nigerian banks among world’s top 1000

Thirteen Nigerian banks are among the world’s top 1000 banks, confirming the country as the leading financial centre in Africa, The Banker Magazine of the Financial Times Group said in its 2014 edition.

The private Guardian newspaper reported Monday that, for the second consecutive year, 13 Nigerian banks made the list of the world’s top 1000 banks.

The publication also coincided with the global banks’ resurgence to profit of US$920 billion, the first time since the global financial crisis, which is 23% more than their previous peak of US$786 billion achieved in 2007 before the crisis.

The ranking underlines Nigeria’s number one position in the continent, as no other African country has up to 13 slots in the top 1000 ranking.

The Nigerian banks that made the ranking based on Tier-1 capital are Zenith Bank, Guaranty Trust Bank, First Bank, Access Bank, United Bank for Africa (UBA), Fidelity Bank and Ecobank Nigeria.

Others include Skye Bank, First City Monument Bank, Diamond Bank, Stanbic IBTC Holdings, Standard Chartered Bank Nigeria and Union Bank of Nigeria.

Overall, Africa has 31 banks in the top 1000 world banks in 2014, with Nigeria’s 13 slots representing 41.94%.

The 31 African banks in the ranking are from nine countries – Nigeria, South Africa, Egypt, Angola, Gabon, Kenya, Mauritius, Morocco and Togo.

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