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Local banks rated among top 1 000 in the world

07 July 2014, 08:32Henry Ifeanyi

Lagos - A total of 13 local banks have been listed among the top 1 000 banks across the world.

The Banker Magazine of the Financial Times Group has listed Zenith Bank, Guaranty Trust Bank, First Bank, Access Bank, United Bank for Africa, Fidelity Bank and Ecobank Nigeria based on tier-1 capital.

Others are Skye Bank, First City Monument Bank, Diamond Bank, Stanbic IBTC Holdings, Standard Chartered Bank Nigeria and Union Bank of Nigeria.

Zenith Bank is ranked top in Nigeria at 293, as Guaranty Trust is on 415, First Bank on number 424, Access Bank 532, United Bank for Africa ranked 539 and Fidelity 622.

The magazine noted that profit on capital of three Nigerian banks that were not foreign-owned subsidiaries increased.  

Africa has 31 banks in the top 1 000 world banks in 2014.

The 31 African banks in the ranking are from nine countries - Nigeria, South Africa, Egypt, Angola, Gabon, Kenya, Mauritius, Morocco and Togo.

Globally, the senior editor of the magazine, Philip Alexander, stressed that banks in this ranking “were stronger than ever.”

The Banker, a publication of Financial Times newspaper, which is regarded as the most influential newspaper in the world, is a global financial intelligence magazine published since 1926.

- CAJ News

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