According to the latest data collected and released by The Banker magazine, a publication of the Financial Times of London 25 African and 7 Nigerian Banks made top Global 1000 Banks.
The largested Bank in Africa according to the ranking is Standard Bank Group of South Africa with a tier one capital of $9.642 billion. While Zenith Bank is the largest bank in Nigeria with a tier one capital of $2.398 billion.
The seven top Nigeria’s banks have a total capitalization of $11.699 billion in 2012 compared to the year 2011 of $11.332 billion. The capitalization slightly notched up did not change the ranking of these banks as they remained in same rankings as that of last year.
The Nigerian banks rankings: “Zenith Bank is the no. 1 Nigerian bank on the list with a tier 1 capital of $ 2.398 billion (Zenith is no.7 in Africa and #322 Worldwide). Zenith is followed closely by First Bank’s tier 1 capital of $ 2.262 billion (#2 in Nigeria, #8 in Africa and #338 worlwide). GTBank is third with a tier 1 capital of $ 1.478 billion (#3 in Nigeria, #11 in Africa and # 455 worldwide). Access Bank’s tier 1 capital or shareholders’ funds is $1.054 billion (#4 in Nigeria, #15 in Africa and #541 worldwide).”
“Bank of America which occupies the first position in the global ranking has a capital base of $163.626 billion. It is followed closely by JPMorgan Chase with a capital of $142.450 billion. The third position is occupied by HSBC, a British bank with a capital base of $133.179 billion. China has three banks in the top ten positions while Japan has just one,” vanguard reported.
TOP 25 AFRICAN BANKS ACCORDING TO THE RANKINGS BY BANKERS MAGAZINE: