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 |