Share the article
twitter-iconcopy-link-iconprint-icon
share-icon

Top 1000 World Banks - South African banks lead a recovering African sector

Africa’s slow but steady recovery is shown in the 2018 statistics, with Standard Bank once more topping the rankings. James King reports.
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon

Africa’s economic fortunes improved over the 2017 review period following a difficult couple of years in which lower commodity prices hit the performance of the continent’s largest markets. This slowly improving economic climate is reflected in the growth trajectory of Africa’s banks which have, across the board, posted relatively strong numbers in the 2018 Top 1000 World Banks ranking.

Among the top 10 African banks by Tier 1 capital, South Africa’s Standard Bank has once again scooped the top spot with $10bn. This was a significant jump from the $8.6bn in Tier 1 capital the bank recorded in the 2017 ranking. Accordingly, its position in the global table has climbed from 149th to 145th.

Other South African lenders have also performed well. FirstRand maintains second position in the Africa table while growing its Tier 1 capital position, while Nedbank also posted an increase to its Tier 1 capital despite surrendering third spot in the table to the ABSA Group. ABSA Group’s inclusion in the 2018 ranking reflects the reduction of Barclays PLC’s ownership stake in Barclays Africa Group to 14.9% from 62% and the rebranding of the holding company name. ABSA Group now occupies the third spot in the Africa regional table and 184th in the global ranking with $7.7bn in Tier 1 capital.

Elsewhere, Egyptian banks maintain a strong showing in the regional table. The National Bank of Egypt secures fifth position once again with $4bn in Tier 1 capital, representing a marginal increase from the 2017 ranking. But Commercial International Bank (CIB), the country’s largest private bank, has registered the biggest gains in the 2018 edition by climbing to 13th position with $1.5bn in Tier 1 capital, up from 20th place in 2017's ranking. This jump in the regional table reflects a much wider growth story for CIB in which its profits and assets have also jumped by a considerable margin in recent years.

Two Nigerian banks and two Angolan banks join CIB in the top five regional lenders based on their return on capital (ROC). Topping the table is Banco de Fomento Angola (BFA) with an ROC of 51.6%. This is the first time that BFA has been included in the Top 1000 World Banks ranking. United Bank for Africa and Guaranty Trust Bank, both from Nigeria, occupy the second and third spots, respectively, while another Angolan bank, Banco BIC, is in fourth place.

Top 25: Africa ($M)

Regional  Rank World Rank Bank Country Tier 1 capital
1 145 Standard Bank Group (Stanbank) South Africa 10,129
2 173 FirstRand South Africa 8,425
3 184 ABSA Group South Africa 7,752
4 217 Nedbank Group South Africa 5,741
5 288 National Bank of Egypt Egypt 3,904
6 295 Attijariwafa Bank Morocco 3,822
7 300 Groupe Banques Populaire Morocco 3,756
8 337 Ecobank Transnational Togo 3,179
9 338 Investec South Africa South Africa 3,163
10 402 Zenith Bank Nigeria 2,466
11 412 Banque Misr Egypt 2,352
12 433 BMCE Bank Group Morocco 2,257
13 569 CIB Egypt Egypt 1,545
14 576 Guaranty Trust Bank Nigeria 1,509
15 579 Capitec Bank Holdings South Africa 1,488
16 592 First Bank of Nigeria Nigeria 1,447
17 595 Arab African International Bank Egypt 1,438
18 630 Access Bank Nigeria 1,303
19 644 MCB Group Mauritius 1,274
20 766 Banco Angolano de Investimentos Angola 911
21 781 Banco de Fomento Angola (BFA) Angola 886
22 799 Equity Bank Kenya 848
23 809 KCB Group Kenya 826
24 823 Credit Agricole du Maroc Morocco 779
25 856 United Bank for Africa Nigeria 711

Highest Movers: Africa 

Regional  Rank World Rank Bank Country Tier 1 capital % change Tier 1 capital $m
1 569 CIB Egypt Egypt 93.06 1,545
2 781 Banco de Fomento Angola (BFA) Angola 32.12 886
3 579 Capitec Bank Holdings South Africa 29.03 1,488
4 173 FirstRand South Africa 22.12 8,425
5 595 Arab African International Bank Egypt 22.05 1,438
6 184 ABSA Group South Africa 19.17 7,752
7 217 Nedbank Group South Africa 19.06 5,741
8 338 Investec South Africa South Africa 18.57 3,163
9 288 National Bank of Egypt Egypt 18.37 3,904
10 145 Standard Bank Group (Stanbank) South Africa 17.41 10,129

Top Five ROC: Africa

Regional  Rank World Rank Bank Country Return on capital (%)
1 781 Banco de Fomento Angola (BFA) Angola 51.69
2 856 United Bank for Africa Nigeria 48.46
3 576 Guaranty Trust Bank Nigeria 43.44
4 971 Banco BIC Angola 42.83
5 569 CIB Egypt Egypt 37.78

New Entrants: Africa ($M)

World Rank Bank Name Country Tier 1 capital
184 ABSA Group South Africa 7,752
781 Banco de Fomento Angola (BFA) Angola 886

Was this article helpful?

Thank you for your feedback!