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FirstBank Nigeria Limited, Zenith Bank Plc, GTBank and Access Bank Plc have been rated among the top 500 banking brands in the world.
The Banker magazine of Financial Times and Brand Finance, London, United Kingdom stated this in its annual 2015 ‘The Top 500’ banking brands unveiled on Monday.

The organisation revealed that for the fourth consecutive year, First Bank of Nigeria was ranked number one banking brand in Nigeria. According to the Country Representative of The Banker magazine – Nigeria, Mr. Kunle Ogedengbe, First Bank moved from being number 382 in 2014 to 336 in 2015. Also, Zenith Bank moved to number 388 from 453 in 2014, GTBank moved to 417 from 422 while Access Bank made first entry into the ranking. It stated that the brand value of FirstBank increased to $300 million in 2015 from $228 in 2014.

According to the Economics editor of the magazine, Silvia Pavoni, the brand value is “the licensing rate that a third-party would need to pay to use that company’s brand.” Commenting on the methodology of the ranking, Pavoni said Brand Finance obtained brand-specific financial and revenue data; modelled the market to identify market demand and the position of individual banks in the context of all other market competitors; established the royalty rate for each bank; calculated the discount rate specific to each bank, taking account of its size, geographical presence, reputation, gearing and brand rating and discounted future royalty stream (explicit forecast and perpetuity periods) to a net present value which is the brand value. This approach, the Economics editor noted “is used for two reasons: it is favoured by tax authorities and the courts because it calculates brand values by reference to documented third-party transactions and it can be done based on publicly available financial information.”

Globally, Wells Fargo of the United States of America retained the number one banking brand in the world for the third consecutive year and was followed by banks in China, United Kingdom and Spain in the first ten. Wells Fargo’s brand value for 2015 is $34.9 billion as against $30.2 billion in 2014, an increase of $4.7 billion. The first ten banks in the world, according to the ranking are Well Fargo (USA); ICBC (China); HSBC (UK); China Construction Bank; Citibank, Bank of America, Chase (USA); Agricultural Bank of China; Bank of China; and Santander (Spain). On the rise of Chinese banks, the chief operating officer of Brand Finance, Mr. Bryn Anderson noted that “the Chinese economy has been doing well for a number of years but I think this has been the first year, in terms of brand value, when Chinese banks have climbed up the tables and stood out.” The Banker’s Top 500 Banking Brands ranking measures the value of financial services firms across the world, analysing specific sectors and geographies, and identifying the brands that have improved the most, as well as those that have suffered the greatest setbacks.
Nigeria is the second highest ranking African country on the list just ahead of Argentina, & bested only by South Africa on the African continent-while also recording the fastest growth rate of banks on the continent at 52% y/y, second only to India, among emerging markets

temitemi1:
My bank is on the list(GTB) . Thank GOD for GEJ economy transformations . GEJ till 2019!!!

gists:
What is GEJ's policy that helped the banks? Another case of GEJ supporter taking credit of past presidents success. Didn't you read Soludo's article. If anybody is to take credit then its OBJ yet again under whom the banking consolidation policy was initiated and hatched.

ozoigbondu:
The article that claimed 30 trillion has been stolen in nigeria while our budget for fours years is approximately 18 trillion .Think boy think that figure is outrageous and impossible thereby degrading the entire article

[b]Under our democratic experience, President Obasanjo inherited a bankrupt economy (with the lost decade of the 1990’s GDP growth rate of 2.2% and hence zero per capita income growth for the decade). His regime consolidated and deepened the market economy structures (consolidation of the banking system which is powering the emergence of a new but truly private sector-led economy and simultaneously led to a new awareness and boom in the capital market; telecommunications revolution; new pension regime; debt relief which won for Nigeria policy independence from the World Bank and Paris Club; deepening of de-regulation and privatization including the unbundling of NEPA under PHCN for privatization; agricultural revolution that saw yearly growth rate of over 6% and remains unsurpassed ever since; sound monetary and fiscal policy and growing foreign reserves that gave confidence to investors; establishment of the Africa Finance Corporation which is leading infrastructure finance in Africa; backward integration policy that saw the establishment and growth of Dangote cement and others; established ICPC and EFCC to fight corruption, etc). [/b]

The economy roared to average yearly growth of 7% between 2003 and 2007 (although average monthly oil price under his regime was $38), and poverty dropped from estimated 70% in1999 to 54% in 2004. Obasanjo was his own coordinating minister of the economy and chairman of the economic management team— which he chaired for 90 minutes every week. I met with him daily. In other words, he did not outsource economic management.

We expected that the next government after Obasanjo would take the economy to the next level. So far, we have had two great slogans: the 7-point agenda and currently, the transformation agenda. They remain empty slogans without content or direction.

Now, to some skeletal facts of our stewardship! I will be brief as I have a whole book to tell my story. [b] As chief economic adviser, I had advised that our banking system could not support the private sector-led economy envisioned under NEEDS. When I assumed office at CBN, I inherited 89 rickety, mostly family banks (all of which put together were not up to the size of number four bank in South Africa). Many were insolvent, with depositors’ money trapped, and 20 more about to collapse. To get a credit of $300 million probably required all the banks to syndicate it. For me, there was a national emergency. I drafted a 13-point reform agenda, discussed and agreed all the specifics with the President, and his VP; as well as my management team at the CBN, and we swung into action. President Obasanjo promised 100% support and actually delivered 1000%— which was decisive. I apologize to you Madam because I did not brief or inform you about it. We just wanted to keep it confidential given the sensitivity of the announcement. It is on record that you never supported it. [/b]

It was both a revolution and a war and most people thought it was “impossible”, but thank God we succeeded. [b]For the first time in Nigeria’s history a policy of that magnitude was announced and deadline kept with precision. We were courageous to revoke the licenses of 14 banks, including those of my friends, in one day. The FT-Banker concluded that the scale, precision, and cost of the transformation were unprecedented in the world. Before then, Malaysia had the least cost of banking consolidation at 5% of Malaysian GDP. It did not cost Nigerian taxpayers one penny. Twenty-five new, stronger banks emerged but the powerful idea behind consolidation ignited something even more powerful—‘the race to the top’. Banks raised more capital, and even banks like First Bank, Zenith, GTB, etc that did not merge with others went on capital raising several times. [size=15pt]The consequence was higher levels of capitalization and within two years, 14 Nigerian banks were in the top 1000 banks in the world and two in the top 300 (no Nigerian bank was in the top 1000 before I came). Even after I left office, still 9 banks were in the top 1000. Our vision was to have a Nigerian bank in the top 100 banks within 10 years. As I see the new Access bank; Zenith, GTB, Fidelity, Diamond, UBA, FBN, FCMB, Skye, Stanbic IBTC, Union, Ecobank, etc, I cannot but feel that we have taken giant steps forward.[/size] [/b]

Deposits and credit soared (from barely N1.2 trillion to over N7 trillion); new technologies (ATM and e-banking) boomed, and banks had 57,000 new jobs; mega businesses emerged (ask any major operator in the Nigerian economy their experience with banking and credit before and after Soludo —the Dangotes, Arik, MM2, oil and gas operators; etc); capital market boomed and dominated by the banking sector. It was a new dawn for Nigerian private sector. I have heard Dangote twice say that he would not be near as big as he is today without the banking consolidation. Many other stakeholders still say it today. FDI and portfolio inflows flooded into Nigeria. The world celebrated, and one single transformative idea has changed the face of the private sector and economy forever. Banks became Nigeria’s first transnational corporations with about 37 branches outside of Nigeria.

ozoigbondu:
The article that claimed 30 trillion has been stolen in nigeria while our budget for fours years is approximately 18 trillion .Think boy think that figure is outrageous and impossible thereby degrading the entire article

SeverusSnape:
Don't mind those people believing that Phantom figure.

gists:
Boy, think. Is that the only content of the article? How come you missed this part from the first article:



Here is an extract from the second article:

ozoigbondu:
Does this prove 30 trillion is missing

gists:
Show us the policy your GEJ made, and the discussion suddenly changed to missing trillions. Shameless intellectual property thieves

gists:
I am trying not to accuse you guys of being as clueless as GEJ himself.
The topic of this thread is: 4 Nigerian Banks Among Global Top 500
I have simply asked you to tell us GEJ's policy that helped 4 Nigerian banks achieved that status.
In my opinion, OBJ should be given the credit and I have given the policy undertaken by his administration which led to 9 bank being in top 1000 banks and 2 banks making the top 300 banks in the world.

There is nothing in this thread about missing money. Why does anyone have to prove N30tr is missing on not in this discussion?

Dear one the fact that soludo lied unashamedly that that sort of money is missing is enough to invalidate that article



Enough said.

gists:
What is GEJ's policy that helped the banks? Another case of GEJ supporter taking credit of past presidents success. Didn't you read Soludo's article. If anybody is to take credit then its OBJ yet again under whom the banking consolidation policy was initiated and hatched.