According to the ranking, Zenith International Bank of Nigeria occupies the 12th position thus becoming the biggest bank in Nigeria. Zenith Bank was number 21 in the Magazine's 2008 ranking. It therefore gained nine points in a year.
Zenith Bank, according to the report has a total asset base of $15bn net earnings of $1.3bn, loans profile of $3.8bn and total deposits of $10bn.
Zenith Bank is closely followed by First Bank of Nigeria as the number 13th on list, while Intercontinental, United Bank for Africa, Union Bank, Oceanic Bank and Bank PHB occupy the 15th, 16th, 20th, 21st and 24th positions respectively.
First Bank was in 2008 ranking the number 10. It lost three points in a year. Intercontinental Bank was 11th in 2008. It lost four points.
United Bank for Africa was ranked 15th in 2008. It has lost one point; while Oceanic Bank also lost three point and Union Bank four points.
According to the report, First Bank has a total asset of $14,248,280, net earnings of $1,547,437, loan profile of $5,428,674 and total deposits of $8,467,499.
The first top 11 banks, according to the ranking are: Standard Bank Group (South Africa), Standard Bank of South Africa, ABSA Group (South Africa), FirstRand Banking Group (South Africa) and NED Bank Group (South Africa).
Others are: National Bank of Egypt, Banque Exterieure D'Algerie(Algeria), Attijariwafa Bank of Morocco, Credit Populaire Du Morocco, Gumhouria Bank(Libya) and Banque Mar. Du Commerce Exterieur (Morocco).
According to Africa Reports, the biggest bank on the African continent, Standard Bank Group, has total assets of $134bn net earnings of $6bn, a loan of $83bn and deposits of $89bn.
Other Nigerian banks in the new ranking are: Diamond Bank (30th), Guaranty Trust Bank (32nd), Access Bank (36th), Skye Bank (38th), Fidelity Bank (53rd), EcoBank (60th), AfriBank(61st), StanbicIBTC Nigeria(63rd), First City Monument Bank(71st), Sterling Bank(84th), City Bank Nigeria(108th),
On methodology used for compiling the report, the magazine said: "To create the ranking of Africa's 200 banks, we sent out questionnaires to 665 financial institutions. Their replies are used to create a systematic ranking of Africa's top 350 banks, based on total assets. We published only the top 200 banks in our list. All the data is communicated to us by the banks themselves or by their parent companies." The report is coming as Nigeria's Central Bank is cleaning up the rot in the banking sector.
The results of a recently audited 14 banks are expected next week, according to the CBN Governor Sanusi Lamido Sanusi. 10 banks were audited earlier of which five bank chiefs were sacked on August 14th, 2009.
Source: DailyTrust
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