Economic recovery provides tailwind for African banks

Despite slower vaccination rollouts and reopenings than elsewhere in the world, African economies bounced back in 2021, providing a much needed boon for lenders. Alongside a near uniform rebound in profitability, all but one of the largest 25 African lenders in The Banker’s Top 1000 World Banks ranking for 2022 posted an increase in Tier 1 capital, in many cases ahead of their peers elsewhere. An impressive 18 of the continent’s 25 largest banks gained places in the overall rankings for the year.

Yet despite several strong individual performers, the pre-pandemic growth boom witnessed almost across the board by banks in markets such as Nigeria, Morocco and Egypt has yet to return, with economic challenges — not least those thrown up by the war in Ukraine — likely to dampen growth in the short term at least.

South Africa’s Standard Bank remains the continent’s largest lender in 2022 — a position it has held for more than 20 years.

Africa top 25 banks ($m)

To access the full results, please go to Top 1000 World Banks.