The Nigerian financial sector is gradually shaping up with the release of The Banker's 2014 Top 100 African Bank rankings, leading the Nigerian country
table is Zenith Bank Plc, with $3.1bn of Tier 1 capital, an increase of nearly 5% over
our 2013 ranking, and a capital level that puts it seventh in the overall
ranking.
This implies that Zenith Bank is now ranked among the top 7 Banks in Africa. The ranking is a reflection of the global performance of financial institutions in Nigeria, with the downturn in global oil market the performance of lagers on the list might be further impacted by the end of 2015.
Outside the sub-Saharan Africa, banks from Morocco and Egypt score highly. Egypt’s strongest player, National Bank of Egypt, came in at number 11 in the ranking despite an 18% drop in capital to $1.99bn.
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