Nigeria Banks makes Global List of Top Banks

Some of our new generational bank including Access Bank, First Bank, Guaranty Trust Bank and Zenith Bank are among the nine Nigeria banks that made this year’s list of top 1,000 global banks released yesterday by the Banker magazine in London.

Others are Ecobank, Diamond Bank, UBA, Fidelity and FCMB. All of them are among the top 25 banks in Africa.

According to the Banker, Zenith Bank placed first among Nigerian top banks in terms of tier 1 capital but 6th in Africa with a capital of $3.162 billion. It was followed by Eco Transnational which is second in Nigeria and 7th in Africa with a capital base of $3.030 billion.

First Bank ranked 3rd in Nigeria and 10th in Africa with a capital of $2.327 billion. Next in the ranking is GTBank which came 4th in Nigeria and 13th in Africa. Access Bank is 5th in Nigeria and 15th in Africa with a capital base of $1.398 billion.

Diamond ranked sixth in Nigeria and 17th in Africa UBA ranked 7th in Nigeria and 17th in Africa while Fidelity ranked 8th in Nigeria and 21st in Africa. FCMB on its part was the 9th bank from Nigeria to make the top 25 banks in Africa.

According to the Banker, “Nigeria’s banks endured a difficult close to 2014, as the significant slump in oil prices caused havoc with the country’s economy. Zenith Bank has held its position as the sixth largest bank in Africa, and First Bank of Nigeria has risen from 424th to 371st on the global list.

“However, Nigeria’s Guaranty Trust Bank dropped from 415th to 449th, with its capital base decreasing from $1.95bn to $1.78bn. Access Bank, Fidelity Bank and UBA also slipped down the rankings, though Diamond Bank joins the African top 25 at 579th in the global rankings.”

[BreakingTimes]