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Top 1000 World Banks – Kenya bucks Africa’s downward trend

The depreciating rand and falling oil prices have caused trouble in Africa, with South African and Nigerian lenders slipping down the overall rankings, but Kenyan entrants still managed to show Tier 1 growth.
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A number of Africa’s largest banking markets faced severe challenges over the 2015 review period. Tumbling commodity prices and volatile currency movements all contributed to the generally weak performance of most of the continent’s big hitters in the 2016 ranking. In aggregate terms, the continent’s total Tier 1 capital fell by 12.77%, accompanied by similar hits to both profitability and asset growth.

Mirroring the Top 25 African banks ranking in 2015, three South African lenders, Standard Bank, FirstRand and Nedbank, have secured the respective top three positions. But a closer look at their performance reveals that all of these banks have suffered in the rankings largely as a result of the depreciating rand. Standard Bank’s total Tier 1 capital in the 2016 edition is $7.48bn, down from $10.19bn in the 2015 ranking. In the global rankings, Africa’s largest bank has now fallen from 123rd place to 160th.

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