A total of 12 Nigerian banks, including Zenith Bank, Access Bank and FirstBank, have been included in the 100 African Biggest Banks list for 2023.
The list compiled by African Business shows that South Africa, Egypt, Morocco and Algeria remain the homes of Africa’s banking giants.
However, Zenith Bank, Access Bank and First Bank lead the list of Nigerian banks in African top 100.
Nigerian banks that made the list included the following: Zenith Bank, Access Bank, First Bank of Nigeria, Guaranty Trust Bank, United Bank of Africa (UBA), Stanbic IBTC, First City Monument Bank (FCMB), Union Bank of Nigeria, Fidelity Bank, Sterling Bank, CitiBank (Nigeria), and Ecobank Nigeria.
The report said the top Nigerian bank is Zenith Bank, ranked 12th among the 100 African banks.
Zenith Bank’s ranking represents an improvement from the 14th position it held in 2022. Following closely is Access Bank, which secured the 13th position in 2023, marking progress from its 16th position in 2022. First Bank, the third-highest-ranked Nigerian bank, claimed 14th place, also improving from its 18th position in the previous year.
Guaranty Trust Bank came 21, United Bank of Africa (UBA) 22, Stanbic IBTC 33, First City Monument Bank (FCMB) 42, Ecobank 41, Union Bank of Nigeria 44, Fidelity Bank 45, Standard Chartered Bank Nigeria 52, Sterling Bank 78, CitiBank (Nigeria) 89
Africa’s Business reports further stated that the top African bank is Standard Chartered Bank in South Africa, retaining its position from last year. The National Bank of Egypt (Egypt), Banque Misr (Egypt), Nedbank (South Africa), and FirstRand (South Africa) complete the top five in that order.