While African economies were slower to re-open than in most other regions in 2021, due to lagging vaccination rollouts, a recovery in global economic activity and an uptick in commodity prices proved beneficial for the continent and its lenders during the year. The Banker’s Top 100 African Banks ranking for 2022 demonstrates a broad return to stability after a torrid year for the continent’s largest lenders.
Improved economic prospects have seen banks cut back provisioning, boosting profits. More than 80 lenders in the top 100 — and 45 out of the top 50 — posted an improvement in net profits. An impressive 78 of the 100 saw an improvement in their Tier 1 capital position.
