See more as 10 Nigerian banks make list of top 100 banks in Africa, 3 rank high

• Nigerian banks person been ranked among the champion successful Africa, with 3 Tier 1 commercialized banks listed successful the apical 10.
• The African ranking, led by a South African bank, besides shows that Nigerian banks person maintained a beardown presence, particularly successful West Africa.
• There are implicit 24 Central Bank of Nigeria-licensed commercialized banks, respective of which are listed connected the Nigerian Stock Exchange

Legit.ng journalist Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

A caller study by African Business mag has revealed the database of the apical 100 Banks operating successful Africa successful 2024.

The study utilized assorted indicators, with superior arsenic a cardinal metric, to find the comparative strengths of African banks.

Nigerian banks fertile precocious successful the database of apical 100 banks Photo credit: Bloomberg/contributor
Source: UGC

The ranking is based connected Tier 1 capital, a cardinal measurement of a bank's fiscal strength, including equity superior and disclosed reserves.

Nigerian banks ranking

Ten Nigerian banks were included successful the apical 100 ranking, with 3 placed among the apical 15 based connected Tier 1 capital.

The banks are Zenith Bank, Access Bank, and First Bank of Nigeria, securing the 10th, 12th, and 13th positions, respectively.

Other Nigerian lenders connected the database see United Bank for Africa (25th), Guaranty Trust Bank (37th), Fidelity Bank (56th), FCMB (64th), Union Bank (65th), Wema Bank (87th), and Stanbic IBTC Bank (90th).

Here is simply a snapshot of Nigerian banks' ranking and capital

Nigerian banks' champion instrumentality connected concern

The study highlighted that Nigerian banks person the champion Return connected Equity (ROE), a cardinal measurement for investors, contempt currency devaluations and inflationary pressures successful Nigeria.

The top-ranked slope by this measurement successful Guaranty Trust Bank achieved a precise beardown 57% ROE connected Tier 1 superior of $1.1 billion, the study stated.

Other banks successful this class are United Bank of Africa (UBA) achieved ROE of 42%, somewhat up of compatriots Zenith Bank (41%), Stanbic IBTC successful Nigeria (38%), and Access Bank (38%).

Nigerian banks unafraid apical positions successful Africa Photo credit: Bloomberg/contributor
Source: Facebook

Top Banks successful Africa

South African banks continued to predominate the apical tiers, led by Standard Bank, FirstRand, and Absa, Vanguard reports.

Snapshop is the apical 10 banks successful Africa

• Standard Bank Group (South Africa) - US$11.76bn
• FirstRand (South Africa) - US$10.42bn
• Absa Group (South Africa) - US$8.77bn
• Nedbank Group (South Africa) - US$6.09bn
• National Bank of Egypt (Egypt) - US$7.52bn
• Attijariwafa Bank (Morocco) - US$6.22bn
• Banque Misr (Egypt) - US$5.63bn
• Banque Centrale Populaire (Morocco) - US$4.38bn
• Investec (South Africa) - US$4.06bn

Seven Nigerian banks station N4.2 trillion nett successful 2024

Legit.ng antecedently reported that 7 large Nigerian banks made a full nett of N4.2 trillion successful the 2024 fiscal year.

Despite pugnacious economical conditions, banks similar Zenith Bank PLC, United Bank for Africa (UBA), Guaranty Trust Holding Company Plc (GTCO), First Bank, Fidelity Bank, Stanbic IBTC, and Wema Bank managed to gain this ample amount.

The banks' fiscal breakdown has been provided.

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Source: Legit.ng