A list of the Top 1000 banks in the world has been released by The Banker.
South African bank Standard Bank has topped the list of the best banks on the African continent. The next three banks are also South African and the National Bank of Egypt is in fifth place.
Altogether 5 South African banks appear in the top of Africa’s best banks.
|1||145||Standard Bank||South Africa||$10,129 million|
|2||173||FirstRand||South Africa||$8,425 million|
|3||184||Absa Group||South Africa||$7,752 million|
|4||217||Nedbank Group||South Africa||$5,741 million|
|5||288||National Bank of
|6||295||Attijariwafa Bank||Morocco||$3,822 million|
|South Africa||$3,163 million|
|10||402||Zenith Bank||Nigeria||$2,466 million|
The report by the Banker stated that among the top African banks b Tier 1 capital, Standard Bank is once again in top spot with $10 billion.
According to the Banker, it was a major jump from the $8,6 billion they recorded in 2017 Tier 1 capital rating.
However, in comparison to the world rankings, Standard Bank is only ranked at 145. Although in move up from position 149 in 2017 to 145 in 2018.
Altogether the world’s biggest banks have close to 12% more Tier 1 capital in the 2018 ranking than compared to 2017.
Deutsche Bank and Credit Suisse Group were two of 10 banks that moved from loss to profit for 2018 while banks like the State Bank of India and Canara Bank has some of the worst losses for 2018.
According to the Banker, an encouraging sign of the industry’s resilience is that capital is increasing at a faster pace than assets.