Full List, Ranking: 4 Nigerian Banks Named among Africa’s Top 20 Banks in 2024

• The list of the top 100 African banks for 2024 has been revealed in a new report by African Business
• Zenith Bank and Access Bank are the only Nigerian banks on the top 20 list, which is dominated by banks from South Africa, Egypt
• The African Business ranking is based on the latest financial results ending in 2023, using criteria such as capital, assets, and profits

Nigerian banks have been included in the list of the biggest African banks in 2024 in a new report published by the African Business.

Financial institutions in South Africa, Egypt, Morocco, and Algeria dominate the list.

Top banks in Africa

South Africa’s banking giant Standard Bank Group is the top Bank in Africa for 2024, followed by the National Bank of Egypt, and Morocco’s Attijariwafa Bank comes third.

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Another South Africa’s Absa Bank is fourth, and Banque Centrale Populaire, a Moroccan bank, is the fifth-best bank.

Nigerian banks ranking on Africa's top 20

According to the report, only four Nigerian banks made it to the list of the top 20 banks in the continent amid the depreciation of the naira.

FBN Holdings (First Bank of Nigeria) is the top-ranked bank in Nigeria and sits as the 15th-best in Africa.

Closely followed are Access Bank (16th) and Zenith Bank (17th).

Here are the top 20 best banks in Africa and their ranking

1. Standard Bank Group - South Africa
2. National Bank of Egypt - Egypt
3. Attijariwafa Bank - Morocco
4. Absa Bank - South Africa
5. Banque Centrale Populaire - Morocco
6. Banque Misr - Egypt
7. FirstRand - South Africa
8. Nedbank - South Africa
9. Banque Extérieure d'Algérie - Algeria
10. Bank of Africa - BMCE Group - Morocco
11. Banque Nationale d'Algérie - Algeria
12. Investec Bank - South Africa
13. Arab African International Bank - Egypt
14. Commercial International Bank (CIB) - Egypt
15. FBN Holdings (First Bank of Nigeria) - Nigeria
16. Access Bank - Nigeria
17. Zenith Bank - Nigeria
18. Crédit Populaire d'Algérie - Algeria
19. QNB Al Ahli - Egypt
20. United Bank of Africa (UBA) - Nigeria

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First Bank announces new names for subsidiaries across Africa

Meanwhile, in another report, Legit.ng revealed that First Bank has announced the name change of its subsidiary in several countries to align with the parent brand.

The bank states that the move will help create brand clarity and consistency across all FirstBank Group subsidiaries.

First Bank has branches in various countries across Africa and Europe.

Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng

Source: Legit.ng