well as a superman this is, dug out as igbo-nigerian yes sir, i once again got reasons not to trust those morons that keep spin lies etc in here

not long ago na so the say uba na waya hmmm see forbes say otherwise

solodu na waya hmmmm

stupid morons!!!

3 Nigerian banks named among world’s biggest    thisday
•FirstBank, UBA, Intercontinental make Forbes list
By James Emejo, 04.15.2009

Wednesday, April 15, 2009

Three Nigerian banks – First Bank of Nigeria Plc, United Bank for Africa (UBA) Plc and Intercontinental Bank Plc – have made the Forbes list of top 2000 world biggest companies.

The trio, according to Forbes Magazine, are joining 248 other companies around the world to displace same number of companies that featured on the list in the 2008 ranking.

For Nigeria, the listing of these banks on the current Global 2000 is a cause for cheers. First Bank Plc is ranked at 1,375, while the UBA comes on the list at number 1,560. Intercontinental Bank Plc completes Nigeria’s showing at 1,798.

Explaining the methodology adopted in arriving at the final compilation of the 2000 biggest companies, Forbes said that companies must have a publicity traded stock in order to qualify for the Global 2000. The Global 2000 companies have the top composite scores based on sales, profit, assets and market value.

First Bank Plc’s composite score on the four metric measures shows a sales figure of $1.29 billion, a profit stated at $0.31 billion, assets metric calculated at 413.05 billion and market value stated at $2.89 billion.

The UBA’s sales figure was stated at $1.44 billion with profit at $0.35 billion while its assets stood at $14.22 billion and its market value calculated at 41.43 billion.

Intercontinental Bank Plc incredibly returned a higher sales figure than the other two Nigerian banks on the list with its $1.48 billion position and a profit position of $0.29 billion with assets calculated at $11.90 billion and market value adding up to $0.88 billion.

This appears to be a confirmation of the 2009 global banking industry, which listed the three banks among top 500 banks in the world.

The global banking industry research and ratings for 2009 had listed First Bank of Nigeria Plc, Intercontinental Bank Plc, Union Bank of Nigeria Plc, Zenith Bank Plc and United Bank for Africa Plc on the world’s top 500 banking brands by the Banker magazine, a publication of the Financial Times of London.

Nigerian banks made their first showing on the world’s top 500 banks in 2007 when Intercontinental Bank came number 355 on the list while also emerging the fastest growing bank in the world. The bank has since then made the list moving up in 2008 to 334.

The three banks in Nigeria that made this year’s list had emerged as industry leaders consistently since after the banking industry reforms introduced by the Central Bank of Nigeria (CBN) in 2004.

Factors accounting for the drop off of the companies that were on the 2008 list but could not make the list in the 2009 ranking, according to Forbes, include mergers, weak financial performance and outright failure.

For instance, Forbes noted that the former 97th-largest company in the world, Lehman Brothers, fell into bankruptcy, while the weakness in the financial markets led to governments nationalising some big banks, such as Ireland’s Anglo Irish banks and Iceland’s Kaupthing Bank.

Speaking on the report, Microsoft Chief Executive Steve Ballmer said: “Even a depression is a place for opportunity if you have cash, scale and ambition. Many of the names on this year’s Forbes Global 2000 list of the world's biggest companies will emerge on the other side of the trough far stronger when world economies snap back next year. For the strong corporations, there are rivals to buy, technologies to fund and new markets to enter - all at lower prices than we've seen in years.

“Despite the economy, it’s important to think about what is possible.''

Forbes’ ranking of the world’s biggest companies departs from lopsided lists based on a single metric, like sales.

Instead, it uses an equal weighting of sales, profits, assets and market value to rank companies according to size. This year's list reveals the dynamism of global business. “The rankings span 62 countries, with the U.S. still dominant with 551 members, but that is 200 fewer than in 2004, when we first published this global list,” Forbes said.

Are you guys still on soludo?
What is yaradua still waiting for before he boots that young man out office?

Does anybody still wonder why people dont like giving their best when it comes to nigeria?

nuzu

as a igbo man and a proud nigeria like most of all, lets hear from the haters nigeria that keep dragin us backwards

kindly explain how the success of first bank run by a hausa man,intercontinental bank run by a yoruba man and u.b.a run by a delta man have to do with soludo and the igbo man

^^^^^

kindly tell the nigerian why supereagles do badly with amodu in charge

and at the same time

did well with westerhop with players like jj amokachia benue, uche okechukwu igbo etc


the IGbos well nigeria are anticipatin ur post

cheers!!

DRANOEL:

kindly explain how the success of first bank run by a hausa man,intercontinental bank run by a yoruba man and u.b.a run by a delta man have to do with soludo and the igbo man

the last time i checked, Prof Chukwuma Soludo is the CBN Governor. in other words, he regulates the Banking system in Nigeria. The bosses of the banks you listed answer to him. In other words, they take orders from him.

BEfore Soludo, where were those banks. Infact before soludo, did Nigeria have a banking structure?

sorry sir ,he regulates the banking industry and not manages the banks,cant you get that in your numb heads? if your argument is valid then all Nigerian banks will be listed but alas only the three,therefore showing you the managerial capabilities of the various M.D's and their support staff

ikeyman00:

nuzu

as a igbo man and a proud nigeria like most of all, lets hear from the haters nigeria that keep dragin us backwards

No vex abeg. I wouldnt mind if you edited the line where you termed me as a proud nigerian.
The fact is that im a nigerian but not a proud one.

How can I be a proud nigerian when my brothers and sis are being slaughtered like goats anytime there's a little misunderstanding in northern nigeria?
How can I be a proud nigerian when the said president is pretending not to notice this genocide?
How can I be a proud nigerian when most nigerians including the older folks make very discriminatory statements against their so-called Igbo brother?
How can I be a proud nigerian when my green passport is worthless to other nationals until I go an extra mile to prove to them that not all nigerians are bad?

So many unanswered questions.

^^^^^

omo-ibo

no mind those fools!!! it only igbo poeple that are really ready to take bold step to get things moving, no amout of gbatti mentality will change that. u have solodu for so long being under pressure to mess up our hard earn national reserve, but he resisted all the attempt, now work it out with those gbatti in charge of aviation, and police chief

Just recently the naira crash like crazy to 200 dollar, solodu was never shaken, he manage to stablise things; he d said afterward that FG shouldnt be expectin cbn to back up naira endlessly, what are the asshole rocks doin about this nothin! they are still  not gettin enough sleep on power generation, who is foolin who  meanwhile u had the northern criminals moanin on how solodu de spoil things for them

when  solodu before the credit crunch set was gona harden the naira, ur f  uckin vampires north wasnt having it!!

solodu is just the kind of people nigeria need. he even went to the north to tell those slowpoke that they got the worse poverty in nigeria in relative to the south, how many gbatti can do that opppp

nuzo

u right, but me dnt have beef with nigeria as an entity but the nigerians(hausa 60%,yorubas 40%, igbos20%)

well u right anyway

nobody should be proud

DRANOEL:

sorry sir ,he regulates the banking industry and not manages the banks,cant you get that in your numb heads? if your argument is valid then all Nigerian banks will be listed but alas only the three,therefore showing you the managerial capabilities of the various M.D's and their support staff

You have just shown how intelligent you are.
i said he regulates the Banking system in Nigeria and you said he regulates the banking industry and not manages the banks.

maybe i'm really dumb, can you please look at the 2 phrases and point out the difference if any?
secondly making comments such as this if your argument is valid then all Nigerian banks will be listed but alas only the three shows how much you  know.

I'll stop stop short of calling you names cos thats not how i roll.

@omo ibo

he regulates the banking system,he regulates the banking industry any how you put it he doesnt manage the banks period or didnt you go to school? apart from making policy statements how has he increased the various commercial bank's balance sheet or how has he affected their liquidity ratio?profitability ratio?efficiency ratio? or cash flow ratio? why don't you guys take your tribal knowledge some place else and make good use of it

nonsense  - i even thought it was top 100  can you imagine

First Bank Plc is ranked at 1,375, while the UBA comes on the list at number 1,560. Intercontinental Bank Plc completes Nigeria’s showing at 1,798.


Like the way yar adua wanted to enter  G20 by force. when we belong to G2200

@ikey

I find offence with your comments . it sounds like you have problem with other tribes in Nigeria. Please explain

DRANOEL,
i still cant believe you are arguing about this. i guess you have a problem with the choice of words. if thats the case then i'll drop mine and take urs.

Nigerian banks are now stronger under Soludo's reign. Before Soludo, anyone could wake up and decide to own a bank. That is not the case today. When Soludo came in the stakes were raised. . . . . . .  . . . .what happened?. . . .  ,   . some banks crashed including AIB, SAvanna, hallmark etc etc.

Nigerians banks are alot stronger now. Thanks to Soludo. Nigerian banking system/industry was nothing to right home about

Nigerian banks made their first showing on the world’s top 500 banks in 2007 when Intercontinental Bank came number 355 on the list while also emerging the fastest growing bank in the world. The bank has since then made the list moving up in 2008 to 334.

It took 3years after Soludo was appointed CBN for this happen. Under the previous reign Nigerian banking industry was garbage

@Dranoel
I repeat the same question Omo Ibo has asked.
Before Soludo, where were those banks? ? ?

Incase you don't know, let me tell you.

Before Soludo, all the 89 banks in Nigeria put together were smaller than the fourth largest bank (I think Ned bank) in South Africa.
Now, with just 4 years of Soludo, any our top four banks can compete favorably with the same Ned bank.
Without Soludo, none of these would be possible, even if Alan Greenspan were to be employed as CEO of one of our pre-2005 banks!

That's called outstanding performance. And I don't think it has anything to do with the fact that Soludo is Ibo!

Some posters just don't get it.
The list is of top 2000 world biggest companies, and says nothing about their profitability. The increased capitalization influenced this, but says nothing of their performance.
Yet Soludo, as CBN governor, only made the regulation, he did not source the funds, neither did he manage the banks, ergo the whole OP is pointless

^^^^^

make no mistake

all credit to solodu!

@ some morons that post shit here like they no, u dnt know jerk

i dedicated this thead to all the true born naija oooo that stand for fairness, truth and unity

igbo,hausa,yorubas,ijaws, erikaikom soup side hahha

anyway spinners in nl we are readin

1 nigeria with nationwide development minus kano-lagos railway contract

walahi shikena ooo

beni

DRANOEL:

kindly explain how the success of first bank run by a hausa man,intercontinental bank run by a yoruba man and u.b.a run by a delta man have to do with soludo and the igbo man

Hausa = ethnic group
Yoruba = ethnic group
Delta = state

Anybody notice the inconsistency here?

Why not state the ethnic group of the "delta man" also?

Nigerians!

biina:

Some posters just don't get it.
The list is of top 2000 world biggest companies, and says nothing about their profitability. The increased capitalization influenced this, but says nothing of their performance.
Yet Soludo, as CBN governor, only made the regulation, he did not source the funds, neither did he manage the banks, ergo the  whole OP is pointless

Nobody uses profitability to determine the size of a company! If profitability is used as a benchmark, then it would be safe to assume that the Suya Mallam near your house who turned a profit should make the list b4 the likes of GM, Chrysler & all the other giants that posted  huge loses.

RichyBlacK:


Hausa = ethnic group
Yoruba = ethnic group
Delta = state

Anybody notice the inconsistency here?

Why not state the ethnic group of the "delta man" also?

Nigerians!

Hehe. . . . . funnily, the CEO in question is a Delta man of [b]Igbo [/b]extraction!

LOL @ the otondo trying to erase the fact that the delta man is actually Igbo. LOL

When will Nigerians stop this tribal bias and focus on important things?
As far as i'm concerned, it matters not whether Soludo is Igbo, Hausa, Yoruba or Ijaw. All i care about is if he does the job he's supposed to do, and if he does it well.

While Soludo should rightly be given some plaudits for bringing some sanity to the banking sector, the people who should be celebrated more are the management staff of the three banks that made the list.

PS: Soludo still has some explaining to do why he allowed the currency of an importing country (Nigeria) to tumble.

.

.

PapaBrowne:

Nobody uses profitability to determine the size of a company! If profitability is used as a benchmark, then it would be safe to assume that the Suya Mallam near your house who turned a profit should make the list b4 the likes of GM, Chrysler & all the other giants that posted  huge loses.

Tell that to the shareholders of citigroup, wachovia, lehman brothers, MCI, Enron or any other 'big' company that has ever gone belly up. Of what use is the size of a company if it is not profitable?
As per your illustration, it is definitely better to invest in the mai suya who turns profit, than to throw away your money waiting for returns on your investment in the 'distressed' automakers.

The point I was making, that you failed to grasp, is that the increased 'size' is a direct consequence of the capitalization requirement. Now if you feel the size of a company is all there is to it, then I advise you start taking basic lessons in economics (or petty trading).

biina:


The point I was making, that you failed to grasp, is that the increased 'size' is a direct consequence of the capitalization requirement.  Now if you feel the size of a company is all there is to it, then I advise you start taking basic lessons in economics (or petty trading).

I grasp that the increased 'size' is a direct consequence of the capitalization requirement and that's exactly my point. Because the capitalization requirement is a direct consequence of Soludo's policy formulation.

I don't think the size of the company is all there is to it, but I'm pretty sure it matters much more than yearly profitability.
Before a company gets to a size where Forbes would reckon, then it sure has had profitable runs in the past and should have much more to come as in the case of the three Nigerian banks mentioned.

I don't think the size of the company is all there is to it, but I'm pretty sure it matters much more than yearly profitability.

Tell that to the shareholders of Enron.  Heh. Business is survival of the fittest, not biggest.

In as much as i'm in full support of igbo emancipation from the north,i dislike it when some of my fellow igbos destroy reputation of great nigerian achievers with ethnic tags.a calabar man just recently discovered cure for diabetes,but no one tagged his ethnicity.there are a whole lot of great nigerians of other ethnicities.i therefore urge the poster to remove the word 'igbo' and replace same with nigeria or the topic can as well be shifted to ethnicity section.

Seun:

Tell that to the shareholders [/b]of Enron.  Heh.  Business is survival of the fittest, not biggest.

Seun, shareholders and yearly profitability are not all that matter in a company.
And yes, in the long run the [b]biggest [/b]would very likely turn out the [b]fittest! Walmart is doing just fine despite the global crisis!

The bigger the better? I guess AIG didn't know that.

@ poster

Lol! do not get too excited, instead pray that baba go-slow Yar adua appreciates and values the changes and improvements,

Soludo has made to the nigerian banking sector; to back him.

Because tomorrow, God forbid; he could wake-up after dreaming about vision 2020 and decide

to have a cabinet reshuffle and make Soludo minister of Culture just like he did with Akuyiili.