LAGOS — Eleven Nigeria banks have been ranked among the top 50 banks in the continent, according to The Banker magazine.

The banks that made it to the top 50 African banks are Zenith, FirstBank, Guaranty Trust, Access, UBA and Fidelity. Others are First City Monument, Diamond, Skye, Stanbic IBTC, and EcoBank Nigeria.

Banks in Nigeria beat other African countries in the number of banks it has in the Top 50 African banks as published by The Banker magazine in its January 2012 edition just released. The Banker which recently retained its world’s number one monthly publication position above Bloomberg Markets, Euro-money and Harvard Business Review by Global Capital Markets Survey through a study by Think Media, an independent company that researches readership of financial publications, listed 11 Nigerian banks in the Top 50 Banks in Africa.

The country was closely followed by Egypt with 10 banks but the inclusion of Africa Export-Import Bank, a continental bank, as Egyptian bank adds to the number of Egyptian banks from 10, according to a release from the Country Representative – Nigeria of The Banker, Mr. Kunle Ogedengbe.

Eleven Nigerian banks made it to the Top 50 Banks in Africa and the country was closely followed by Egypt with ten banks but the inclusion of Africa Export-Import Bank, a continental bank, as Egyptian bank adds to the number of Egypt from ten. Other top playing banks in Africa came from South Africa which maintains leadership of the continent’s banking industry, Morocco, Libya and Nigeria made up the first ten banks in Africa.

According to The Banker’s Africa Editor, Mr. Paul Wallace, banks from Nigeria, South Africa and North Africa still dominate the Top 20 with “only one lender, Togo-based Ecobank came from outside of those places” in the Top 20. Wallace noted that African banks have made tremendous improvements recently and writes: “African banks have grown rapidly in the past few years. Based on the 2010 results, nineteen of them have Tier 1 Capital of more than $1 billion, a level that roughly marks the cut-off point for the world’s biggest 500 banks”.

He adds that this is an impressive rise for Africa which, he noted had only 10 banks with $1 billion of Tier 1 capital or more at the end of 2007. “Moreover, 31 lenders on the continent now have capital strength of $500m or more, compared with just 13 in 2007.”

Going forward, Wallace observed that more Nigerian banks, which have finally shaken off their crisis of 2009, will rise to the top especially with the merger of Access Bank and Intercontinental Bank which may make the new Access Bank become one of the Top 10 African Banks by asset. The scene is also looking good for Ecobank Nigeria with its merger with Oceanic Bank, he added.

Other Nigerian banks that made good outings in different streams of The Banker’s ranking for distribution at the WEF Annual Meeting in Davos, Switzerland include Sterling Bank, Wema Bank and Unity Bank as the Nigerian banking industry has the highest return on asset and capital asset ratio of 2.07 per cent and 16.59 per cent respectively among the big top banking countries including North Africa countries and South Africa.

http://www.vanguardngr.com/2012/01/11-nigerian-banks-make-top-50-african-banks/

Am afraid this ranking ȋ̝̊̅§ not as similar ranking was churned out prior banking crisis era

How the hell did UBA make that list?

Hmnn. Na wa o. Me, I have doubts on some of these banks o.

Where is Oceanic bank?

wuru wuru

Oceanic is no more. It has merged with Ecobank and made Ecobank now one of the 5 biggest banks in Nigeria.

^^oceanic has merged? Since When?

What of zenith?

jennykadry:

^^oceanic has merged? Since When?

What of zenith?

Are you in Nigeria?
Anyways Oceanic has merged with Ecobank

Da whole thing's always a conspiracy. . .

These people pump the heads of leading bankers with a load of cudswallop and end up eroding their capital under all sorts of deceptive guises - fees, higher interest, funny financial arrangements etc

Its always easy to collect money from them when theyve given them all kinds of fake ridiculous awards and credit ratings

@JK, Access bank has merged with Intercontinental, FCMB and Finbank are in the process of merging, Ecobank bought Oceanic bank over. More mergers and acquisitions are on the way. ETB and Sterling bank have signed the MOU and will soon merge. Skye bank bought Wema bank though Wema will still operate under its name, Union bank is in merger tals with another bank (can't remember the bank). Zenith still dey.

well these banks should be worth a lot more because their values have been lost in the stock market crash. we should start buying their shares as they really are at rock bottom.

uba is going for less than N 3 remember it used to be N 55? so how much value has been lost?

same with diamond bank, zenith, even GT Bank ,these banks have made changes and need to be valued higher.

anyway thats my personal take because i follow the stock market closely before investing. you can also do the same and avoid losing money. let me suggest a good website to use to track the financial markets, i will not be leaving a link so just check it out.

E A S Y K O B O . C O M

Pointless thread

celebrating being in top 50 ?

Not even top 50 in the world, but only top 50 in Africa?

We need to celebrate it, That means SLS is really working.

I agree with some banks there making the list and also totally disagree with some in that list. But as for nowww

olawalebab link=topic=847739.msg9983547#msg998Oh3547 date=1326796884:

We need to celebrate it, That means SLS is really working.

Oh yeah His N620billion overhanded "bail out" and wuru wuru "AMCONisation" of 8 banks which is largely unaccounted for is part of the reason why the govt is so broke and we have now to contend with subsidy removal. . .

DJTee:

Oh yeah His N620billion overhanded "bail out" and wuru wuru "AMCONisation" of 8 banks which is largely unaccounted for is part of the reason why the govt is so broke and we have now to contend with subsidy removal. . .

That is not what make the govt broke,rather the millions expended on execution of election, moreover that money is a "loan" that was later converted to equity

blank:

@JK, Access bank has merged with Intercontinental, FCMB and Finbank are in the process of merging, Ecobank bought Oceanic bank over. More mergers and acquisitions are on the way. ETB and Sterling bank have signed the MOU and will soon merge. Skye bank bought Wema bank though Wema will still operate under its name, Union bank is in merger tals with another bank (can't remember the bank). Zenith still dey.

interesting. I just hope these mergers will not automatically signify downsizing. . .

@ muyoto,jobs WILL BE LOST
My bank's branch in my neighborhood closed January
What a way 2 start 2012 4 those staff!

Nigerian Banks are always geting one high rating or the other then before you say "F!U!k.c!" they crumble,

what is UBA doing in that list?

careytommy:

what is UBA doing in that list?

You mean Nigeria No 1 bank. Local bank with international coverage

blank:

@JK, Access bank has merged with Intercontinental, FCMB and Finbank are in the process of merging, Ecobank bought Oceanic bank over. More mergers and acquisitions are on the way. ETB and Sterling bank have signed the MOU and will soon merge. Skye bank bought Wema bank though Wema will still operate under its name, Union bank is in merger tals with another bank (can't remember the bank). Zenith still dey.

I dont know of others, but all I know and sure of is that wema is not in distress so they have not been bought by any bank. They only operate as a regional bank i.e in south west, south south and FCT- places they have 95% of their business.

@OLAWALEBAB

UBA is no longer Nigeria's no.1 back.

you should re-check. i think its either access or GT Bank or Stanbic or Ecobank.

ok

ombudsmen:

@OLAWALEBAB

UBA is no longer Nigeria's no.1 back.

you should re-check. i think its either access or GT Bank or Stanbic or Ecobank.

I know, read my post well.

olawalebab:

I know, read my post well.

sorry bruv i didnt mean anything wrong, maybe i was too busy check out that new [size=50pt]easykobo [/size] site.

ombudsmen:


sorry bruv i didnt mean anything wrong, maybe i was too busy check out that new [size=50pt]easykobo [/size] site.

you are welcome

Thanks Yinka for dat easykobo site.

joshfash:

I dont know of others, but all I know and sure of is that wema is not in distress so they have not been bought by any bank. They only operate as a regional bank i.e in south west, south south and FCT- places they have 95% of their business.

A bank does not have to be distressed for them to merge. That is just common sense. Instead, why don't u go and research and find out if it is true or not?

blank:

A bank does not have to be distressed for them to merge. That is just common sense. Instead, why don't u go and research and find out if it is true or not?

It is not true, no one has bought wema and no one will buy it in years if they continue with this team spirit stuff.
Woman, dont be fooled by tins pple say out there make research before posting here. I am 1000000% sure of all news of wema bank, so dont write wot you dont know.