For
the second consecutive year, 13 Nigerian banks made the list of top
1,000 world banks as published by The Banker magazine of the Financial
Times Group in its 2014 edition, as banks in the world for the first
time since the global financial crisis return to profit of $920 billion,
which is 23 percent more than their previous peak of $786 billion
achieved in 2007, before the financial crisis.
The 13
Nigerian banks that made the ranking underline Nigeria’s number one
position in Africa as no other African country has up to 13 in the top
1,000 world banks.
According to
a release by the country representative – Nigeria of the publication,
Kunle Ogedengbe, the Nigerian banks that made the ranking based on
Tier-1 capital are Zenith Bank, Guaranty Trust Bank, First Bank, Access
Bank, United Bank for Africa, Fidelity Bank, and Ecobank Nigeria.
Others are
Skye Bank, First City Monument Bank, Diamond Bank, Stanbic IBTC
Holdings, Standard Chartered Bank Nigeria, and Union Bank of Nigeria.
Zenith Bank
is ranked top in Nigeria at 293, as Guaranty Trust is on number 415,
First Bank on number 424, Access Bank 532, United Bank for Africa ranked
539 and Fidelity 622.
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 percent from 25.13 percent, Access Bank from 21.19 percent to
21.24 percent and First City Monument Bank 15.77 percent from 15.07
percent.
Editor of
the magazine, Brain Caplen noted that the 23 percent increase in profit
of global banks from 2007 “is a good news but the better news is that
capital has also increased at a reasonable pace, whereas assets have
stayed flat. This means that returns on capital are only slightly
improved but the hope is that this upturn is more sustainable than the
last one.”
Caplen
disclosed that a large proportion of the profit is from China – about 32
percent of the total, which is more than the next three highest profit
countries of USA, Japan and Canada combined.
Of the 25
top banks in Africa from the ranking, the highest of eight is from
Nigeria, the largest economy in the continent, while the United Bank for
Africa is the only Nigerian bank in the top 10 highest movers in
Africa.
In all,
Africa has 31 banks in the Top 1000 World Banks 2014 with Nigeria having
13, representing 41.94 per cent. The 31 African banks in the ranking
are from nine countries: Nigeria, South Africa, Egypt, Angola, Gabon,
Kenya, Mauritius, Morocco and Togo.
Globally,
Senior Editor of the magazine, Philip Alexander stressed that banks in
this 2014 ranking “are stronger than ever” as “the level of capital held
by banks in this ranking continues to accelerate, with the minimum Tier
1 capital required to enter the Top 1000 World Banks now fast
approaching $400m. This has almost doubled since the 2005 ranking”, he
added.
The Banker, a
publication of Financial Times Newspaper, which is regarded as the most
influential newspaper in the world, is a global financial intelligence
magazine published since 1926. It is the definitive publication that
provides guide to bank ratings and analysis globally and the definitive
reference on international banking for finance experts, governments,
chief finance officers, CEOs, Central Bank Governors, Finance Ministers,
and other decision makers globally.
According to
The Global Capital Markets Surveys (GCMS), the only independent media
benchmarking study available in the capital markets industry and
provides insight into who reads what at the world’s financial
institutions, amongst monthly finance titles globally The Banker is
number one monthly finance title read globally, in capital markets;
Europe, Middle East and Africa (EMEA) region; emerging markets and bank
as well as financial institutions in the world.
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