13 Nigerian banks in top 1,000 global ranking

Godwin Emefiele, MD, Zenith Bank08 July 2013, Lagos – Thirteen Nigerian banks emerged in this year’s edition of the “Top 1000 World Banks’ Ranking,” by the Bankers magazine, owned by the Financial Times Group, London.

Zenith Bank Plc, First Bank Nigeria and Guaranty Trust Bank Plc, GTB, in that order, were the top three Nigerian banks in the ranking.

Others were Access Bank, United Bank for Africa, UBA, Ecobank Nigeria, Fidelity Bank, First City Monument Bank, Skye Bank, Diamond Bank, Stanbic IBTC, Union Bank and Standard Chartered Bank, in that order.

According to a report from the Country Representative, Nigeria of The Banker magazine, Mr. Kunle Ogedengbe, at the weekend, this year’s ranking saw the return of Union Bank to the league of top global banks.

King are Zenith Bank, First Bank, Guaranty Trust Bank, Access Bank, United Bank for Africa, Ecobank, Fidelity Bank, First City Monument Bank, Skye Bank, Diamond Bank, Stanbic IBTC, Union Bank and Standard Chartered Bank.

“Zenith Bank moved 35 places from 322 in the world last year to 287; First Bank moved from 338 to 367, Guaranty Trust Bank moved to 417 from 455; Access Bank moved to 506 from 541 and UBA moved to 553 from 563,” he stated.

These movements according to analysts, was a good sign of the improvements of the soundness of the Nigerian banks among the world global banks and the robust monetary policies of the Central Bank of Nigeria, CBN.

Ogedengbe stressed that the ranking was usually based on the definition of Tier–1 Capital as set out by Basel’s Bank for International Settlements, BIS, and that it aimed to show global international banks’ soundness in relation to the Basel guidelines on capital adequacy.

He further explained that the percentage change in the Tier-1 Capital, which underlined the strength of banks, for Zenith Bank increased by 23.82 per cent, the highest in the wholly Nigerian banks that made the ranking.

“In the capital asset ratio of soundness parameter, Zenith Bank came top at 17.70 per cent followed by Guaranty Trust Bank at 16.23 per cent. Third is Fidelity Bank at 15.67 per cent, Standard Chartered Nigeria is fourth at 13.38 per cent followed by FCMB at 12.00 per cent and First Bank at 11.96 per cent; Access Bank at 11.60 per cent; Stanbic IBTC at 11.55 per cent; Ecobank at 11.14 per cent; Skye Bank at 9.90 per cent; UBA at 7.65 per cent; Diamond Bank at 7.31 per cent; and Union Bank at 6.35 per cent,” he added.

– Obinna Chima, This Day.

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