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| Central Bank of Nigeria |
5
NIGERIAN BANKS AMONG TOP 1,000 WORLD BANKS
By
Lovins Yakubu
4th
July, 2018
Five Nigerian banks were recently ranked
among The Banker Magazine’s Top 10 Banks in Africa and among 1,000 banks in the
world.
The banks so ranked are; Zenith Bank Plc,
First Bank Nigeria Limited, Guarantee Trust Bank Plc, Access Bank Plc, and
United Bank for Africa Plc. According to the ranking released two days ago in
the Magazine’s 2018, 1,000 Global Banks’ ranking, two Nigerian banks and two
Angolan banks join Egypt’s Commercial International Bank (CIB) in the top five
regional lenders based on their return on capital (ROC).
Topping the table of 10 is Banco de Fomento
Angola (BFA) with an ROC of 51.6 per cent. United Bank for Africa and Guarantee
Trust Bank, both from Nigeria, occupy the second and third spots respectively
while another Angolan Bank, Banco BIC, is in fourth place.
Last year, Zenith Bank was placed first in
Nigeria and 10th in Africa. It was closely followed by First Bank as
the second largest bank in Nigeria, 12th in Africa and 567th
in the world. GTB was ranked 3rd in Nigeria, 13th in
Africa and 588th in the world.
Also, in the same year, Access Bank occupied
the fourth position and was ranked 14th in Africa and 628th
in the world while UBA was placed 5th in Nigeria, 22 in Africa and
832 in the global ranking.
According to the magazine, Africa’s economic fortunes
improved over the 2017 reviewed period following a difficult couple of years in
which lower commodity prices hit the performance of the continent’s largest
market. This slowly improving economic climate is reflected in the growth
trajectory of Africa’s banks which have across the board posted relatively
strong numbers in 2018 top 1000 World Banks ranking.
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