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The Banker Magazine has just published an official bank ranking in
the African continent. Not surprising though, eleven (11) Nigerian
commercial banks made it to the top 50 best rated banks in Africa
thereby placing Nigeria in the top list of all African countries in the
overall ranking.
Speaking on the ranking results, the Africa’s banker editor, Mr. Paul
Wallace commended banks from Nigeria, South Africa, and North
Africa for still maintaining their positions in the best 20. According
to him, only “one lender” from Togo-based Ecobank came up in
the first 20 banks in the continent in this year’s ranking.
Mr. Wallace mentioned that African banks have made practical
improvements recently and writes: “African banks have grown
rapidly in the past few years. Based on the 2010 results, nineteen
of them have Tier 1 Capital of more than $1 billion, a level that
roughly marks the cut-off point for the world’s biggest 500
banks”.
The banks that appeared in the top 50 African banks from Nigeria
are listed below:
Access Bank, Zenith Bank, UBA, Guarantee Trust Bank, First Bank,
and Fidelity Bank. Others includes First City Monument Bank,
Stanbic Bank, Diamond Bank, Skye Bank and Eco Bank of Nigeria.
In the ranking Nigeria came first, seconded by Egypt and followed
by South Africa.