Nigeria banks overtake South Africa’s – Report
By SUNDAY ANI

Sunday, July 12, 2009
• First Bank, Zenith, Oceanic, Intercontinental, 9 others among top 1000



http://odili.net/news/source/2009/jul/12/503.html

Thirteen Nigerian banks are among the first 1000 global financial institutions, according to a report just released by The Banker Magazine. This is coming on the heels of a recent report by a less popular Africa Report Magazine, based in Paris.

However, in its annual ranking of 1000 global banks, The Banker Magazine, which is a publication of Financial Times of London, has doused the anger and controversy trailing the Africa Report Magazine report. The 90-year-old magazine arrived at its ranking using globally known and acceptable parameters.

The report also indicate that out of the top 20 sub-Saharan African banks in the 1000 ranking, five were South African, 13 Nigerian and two Mauritanian. By this report, Nigeria has overtaken South Africa.

The rankings are based on the definition of Tier 1 Capital as defined by Basel’s Bank for International Settlement.

Four South African banks: Standard Bank Group otherwise known as Stanbank, First Banking Group, Nedbank and Investec occupy first, second, third and fourth positions respectively in Africa with 7275, 6303, 3594 and 3175 points and 110, 128, 197 and 205 positions respectively in the global table.

The Nigerian banks occupy positions five to 12, 13 to 16, and 18 to 19 on the regional table with First Bank leading with 2993 points (5th in Africa and 215 on the global table).

Others are Zenith - 2935 points (6th in Africa and 218 on the global table), Oceanic bank - 1750 points (7th in Africa and 327 on the global table), Intercontinental Bank – 1669 points (8th in Africa and 335 on the global table), United Bank for Africa -1541 points (9th in Africa and 356 on the global table), Access Bank – 1431 points (10th in Africa and 392 on the global table), Guaranty Trust Bank - 1382 points (11th in Africa and 392 on the global table) and Fidelity Bank -1163 points (12th in Africa and 450 on the global table).

Then Union Bank and Sky Bank occupy 14th and 15th position in Africa with 826 and 776 points respectively, 556 and 580 on the global table.

Diamond Bank and Afribank are 18th and 19th in Africa with 423 and 321 points respectively, 802 and 885 on the global table.

From the report first Bank is leading other Nigerian banks while Afribank comes last among the Nigerian banks.

In terms of regional rankings, South Africa's banks remain static. In Nigeria, however, the picture is much more fluid. The seemingly unstoppable march of the Nigerian banks up the global rankings appears to have cooled somewhat. Whereas last year Nigerian banks dominated the highest movers’ category of the Top 1000, this year their performance has been solid rather than spectacular.

From the report, Nigerians could sleep with both eyes closed knowing that banks in Nigeria are doing pretty well as they keep increasing their pre-tax profits.

However, it is not yet uhuru for the Nigerian banks looking at the gap between the South African leading bank which occupies the 110th position globally and that of Nigerian leading bank which occupies the 215th position in the global table.

In your DREAMS!, Why are you so obsessed with South Africa by the way? You seem to have an inferiority complex, You should be Obsessed with adressing the immense problems that your country is facing, eg. , hundreds and thousands of criminal attacking, butchering and burning of property of fellow countrymen and countrywomen; The hoplessness and poverty in your country that force millions of your compatriots to countries as far away as Southern Africa where they are not wanted, If your country and banks are so great why are so obsessed on how we are running our country, How many South Africans are in Nigeria vs Nigerians in South Africa, I bet you the ration is lik 1:10000000! Solve your own festering problems before you worry about someone else's, You have been "free" for 50 years but you don't have anything to show for!!! Don't forget your civil wars where you butchered millions of your people, We admire Nigerians that are nice, but you are not nice! How many nigerians were killed in South Africa, I submit to you ZERO! How many Nigerians were killed by other Nigerians in the name of religion and MEND, THOUSANDS!!!! you have a big problem in your own backyard my friend!!!

tk007e:

In your DREAMS!, Why are you so obsessed with South Africa by the way? You seem to have an inferiority complex, You should be Obsessed with adressing the immense problems that your country is facing, eg. , hundreds and thousands of criminal attacking, butchering and burning of property of fellow countrymen and countrywomen; The hoplessness and poverty in your country that force millions of your compatriots to countries as far away as Southern Africa where they are not wanted, If your country and banks are so great why are so obsessed on how we are running our country, How many South Africans are in Nigeria vs Nigerians in South Africa, I bet you the ration is lik 1:10000000! Solve your own festering problems before you worry about someone else's, You have been "free" for 50 years but you don't have anything to show for!!! Don't forget your civil wars where you butchered millions of your people, We admire Nigerians that are nice, but you are not nice! How many nigerians were killed in South Africa, I submit to you ZERO! How many Nigerians were killed by other Nigerians in the name of religion and MEND, THOUSANDS!!!! you have a big problem in your own backyard my friend!!!

Forgive him, don't think he had his wheaties !!!!!