ZENITH Bank Plc has emerged Nigeria’s most capitalised bank, with a tier one capital of $2.398 billion as against the $2.405 billion of last year.
The development makes Zenith the biggest bank in Nigeria, seventh in Africa and 322nd in the world.
These were contained in the 2012 global financial intelligence report published by The Banker magazine, an arm of the Financial Times of London.
The publication, which was published this month, listed top 1,000 banks throughout the world and used criteria such as tier one capital to measure strength, size in terms of assets base, soundness, profits margin, performance and returns on assets ratio criteria.
Nine other Nigerian banks were rated in the publication, including FirstBank Plc, Guaranty Trust Bank, Access Bank, United Bank for Africa, Diamond Bank, First City Monument Bank, Skye Bank, Fidelity and Stanbic IBTC Bank respectively.
According to The Banker, going by the Bank of International Settlement (BIS) measure, Zenith was the only Nigerian bank that attained the 1,000 soundest BIS ratio of 36.
Zenith ranked second in terms of assets, third based on capital assets ratio, second in the area of performance and return on assets, respectively.
Source: TRIBUNE News
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