Nine Nigerian banks have been ranked among the 1000 global banks by The
\nBanker magazine in London.<\/p>\n
The banks are Zenith Bank Plc, Ecobank Transnational Incorporated,
\nFirstBank, Guaranty Trust Bank Plc (GTBank) and Access Banks. Others are,
\nDiamond Bank Plc, the United Bank for Africa Plc (UBA), Fidelity Bank Plc
\nand First City Monument Bank.\u00a0 The aforementioned banks were also ranked
\namong the top 25 banks in Africa.<\/p>\n
According to a statement from The Banker on Monday, Zenith Bank was ranked
\nnumber one among Nigeria\u2019s top banks in terms of tier-1 capital, but sixth
\nin Africa with a capital of $3.162 billion.<\/p>\n
It was followed by Ecobank Transnational which emerged second in Nigeria
\nand 7th in Africa with a capital base of $3.030 billion. FirstBank was
\nranked third in Nigeria and 10th in Africa with a capital of $2.327
\nbillion.<\/p>\n
Next in the ranking was GTBank which came fourth in Nigeria and 13th in
\nAfrica. The Banker report also placed Access Bank on the fifth position in
\nNigeria but 15th in Africa with a capital base of $1.398 billion.<\/p>\n
Others include Diamond Bank which emerged sixth in Nigeria and 17th in
\nAfrica, UBA ranked seventh in Nigeria and 17th in Africa while Fidelity
\nBank ranked eighth in Nigeria and 21 in Africa.\u00a0 The organisation also
\nplaced FCMB ninth in Nigeria to make the top 25 banks in Africa.<\/p>\n
The statement explained that: \u201cNigeria\u2019s banks endured a difficult close
\nto 2014, as the significant slump in oil prices caused havoc with the
\ncountry\u2019s economy. Zenith Bank has held its position as the sixth largest
\nbank in Africa, and First Bank of Nigeria has risen from 424th to 371st on
\nthe global list. However, Nigeria\u2019s Guaranty Trust Bank has dropped from
\n415th to 449th, with its capital base decreasing from $1.95 billion to
\n$1.78 billion.<\/p>\n
\u201cAccess Bank, Fidelity Bank and United Bank for Africa have also slipped
\ndown the rankings, though Diamond Bank joins the African top 25 at 579th
\nin the global rankings.\u201d<\/p>\n
It further said: \u201cThe difficulties of the South African economy are
\nreflected in its banks\u2019 performances in the 2015 Top 1000 ranking, but
\nelsewhere there is good news for Togo\u2019s Ecobank and FirstBank of Nigeria.\u201d<\/p>\n
The statement also noted that: \u201cFor South Africa\u2019s banking sector, the
\nlargest in Africa, 2014 passed in a similar vein to 2013 \u2013 both years were
\ndominated by the weak performance of the national economy and the ensuing
\nvolatility of the rand. In 2013, the rand lost 13 per cent of its value
\nagainst the dollar, and though 2014 did not see another rapid
\ndepreciation, rand volatility remained high. This hampered the ability of
\nSouth Africa\u2019s banks to improve their capital adequacy.<\/p>\n
\u201cStandard Bank remains the continent\u2019s largest bank, though it has dropped
\nfrom 116th to 123rd in the overall ranking and its tier-1 capital has
\nfallen slightly from $10.56 billion to $10.18 billion. FirstRand has held
\nits regional ranking position and increased its capital slightly, but
\nNedbank Group has dropped from 195th position to 216th and has seen its
\ncapital base drop to $4.76 billion, from $5.11 billion. Barclays Africa
\nGroup, previously known as Absa Group, would have come third in the
\nAfrican rankings with a tier-1 capital base of $6.09 billion, but is
\nexcluded from the main ranking as it is a subsidiary of the UK\u2019s
\nBarclays.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Nine Nigerian banks have been ranked among the 1000 global banks by The Banker magazine in London. The banks are Zenith Bank Plc, Ecobank Transnational Incorporated, FirstBank, Guaranty Trust Bank…<\/p>\n","protected":false},"author":1,"featured_media":40072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-40071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n