13 Nigerian banks listed among World’s top 1,000

By IAfrica
In Nigeria
Jul 6th, 2014
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13 Nigerian banks have been listed among the world’s top 1000 lenders.

This was made known  by The Banker magazine of the Financial Times Group in its 2014 report on banks released on Sunday.

The report said this is the second year in a row that the banks will attain the feat.

The Country Representative of The Banker Magazine, Kunle Ogedengbe, listed the 13 banks that made the ranking, which according to him, is based on Tier-1 capital, as Zenith Bank, Guaranty Trust Bank, First Bank, Access Bank, United Bank for Africa, Fidelity Bank and Ecobank Nigeria.

The others are – Skye Bank, First City Monument Bank, Diamond Bank, Stanbic IBTC Holdings, Standard Chartered Bank Nigeria and Union Bank of Nigeria.

He said Zenith Bank was ranked top in Nigeria at 293 position, Guaranty Trust came next at 415, while First Bank and Access Bank were ranked 424 and 532 respectively.  UBA was listed at 539, while Fidelity, occupied 622 position.

Also, The Banker said the profit on capital of three Nigerian banks that are not foreign-owned subsidiaries increased. These are – First Bank that has its profit on capital increased to 25.32 per cent from 25.13 per cent, Access Bank, from 21.19 per cent to 21.24 per cent and First City Monument Bank, 15.77 per cent from 15.07 per cent.

The magazine said the share number of local banks that made the ranking “underlines Nigeria’s number one position in Africa, as no other African country has up to 13 lenders in the Top 1,000 World Banks.”

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