GTBank, Fidelity, UBA, others drop in global ranking, as Diamond joins Africa’s top 25


Nine Nigerian Deposit Money banks made this year’s top 1000 global banks, with some of the banks dropping from their former rankings due to what analysts attribute to the challenges of significant slump in oil prices and general decline in economic activities in the second half of 2014.
The list of top 1000 global banks released Monday by The Banker magazine in London, indicates that the banks that made the top 1000 global banks, which are the top 25 banks in Africa are Zenith, Ecobank, FirstBank, GTbank and Access Banks, Diamond Bank, UBA, Fidelity and FCMB.
However, none of the banks made the top five in Africa, as GTB dropped from 415th to 449th just as Access Bank, Fidelity Bank and UBA all slipped from their positions in the previous year.
Diamond Bank joined the list of top 25 banks in Africa while it also made top fast movers on the list alongside Union Bank and Sterling Bank, the only new entrant from Nigeria in the global list in 2014.
Ecobank Nigeria’s parent company, Ecobank Transnational, based in Togo, also made a strong showing amongst fast movers, jumping 90 places to place 306th in the global ranking.
According to The Banker, Zenith Bank placed first among Nigerian top banks in terms of Tier 1 capital but sixth in Africa with a capital of $3.162 billion.
It was followed by Eco Transnational which is second in Nigeria and Seventh in Africa with a capital base of $3.030 billion, while FirstBank ranked Third in Nigeria and 10th in Africa with a capital of $2.327 billion. Next in the ranking is GTbank which came FoUrth in Nigeria and 13th in Africa.
The Banker report said Access Bank is Fifth in Nigeria but 15th in Africa with a capital base of $1.398 billion.
Others are Diamond which is Sixth in …Read More

Source:: New Mail