Nine Nigerian banks made this year’s top 1000 global banks. The list of top 1000 global banks was released by The Banker magazine in London. The banks that made the top 1000 global banks are Zenith, Ecobank, First Bank, GTbank and Access Banks. Others are Diamond Bank, UBA, Fidelity and FCMB.
None of the banks made the top five in Africa. GTB dropped from 415th to 449th just as Access Bank, Fidelity Bank and UBA all slipped from their positions in the previous year.
Diamond Bank joined the list of top 25 banks in Africa while it also made top fast movers on the list.
According to The Banker, Zenith Bank placed first among Nigerian top banks in terms of Tier 1 capital but 6th in Africa with a capital of $3.162 billion. It was followed by Eco Transnational which is second in Nigeria and 7th in Africa with a capital base of $3.030 billion. First Bank ranked 3rd in Nigeria and 10th in Africa with a capital of $2.327 billion.
Next in the ranking is GTbank which came 4th in Nigeria and 13th in Africa. The Banker report said Access Bank is 5th in Nigeria but 15th in Africa with a capital base of $1.398 billion.
Others are Diamond which is 6th in Nigeria and 17th in Africa, UBA ranked 7th in Nigeria and 17th in Africa while Fidelity ranked 8th in Nigeria and 21st in Africa. FCMB on its part was the 9th bank from Nigeria to make the top 25 banks in Africa.
The Banker’s report said: “Nigeria’s banks endured a difficult close to 2014, as the significant slump in oil prices caused havoc with the country’s economy.
“Zenith Bank has held its position as the sixth largest bank in Africa, and First Bank of Nigeria has risen from 424th to 371st on the global list. However, Nigeria’s Guaranty Trust Bank has dropped from 415th to 449th, with its capital base decreasing from $1.95bn to $1.78bn. Access Bank, Fidelity Bank and United Bank for Africa have also slipped down the rankings, though Diamond Bank joins the African top 25 at 579th in the global rankings.
By Dike Onwuamaeze
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