Index to Nigerian Newspapers

The Banker Magazine has released its latest ranking of top 1000 world banks, which shows that Nigerian banks had a mixed year in 2022 as the country’s two largest, “Zenith Bank and Access Bank, both saw their Tier 1 capital positions drop by around eight percent and their pre-tax profits in dollar terms fall 9.2 percent and 13.8 percent respectively.

Fourth-placed United Bank for Africa was the best performer of the country’s largest banks in this year’s rankings, recording a 13.4 percent rise in Tier 1 capital and a 17.3 percent rise in pre-tax profits.” The rankings, published in the July 2023 edition of The Banker Magazine of the Financial Times Group, United Kingdom, were based on the 2022 year-end Tier-1 capital of banks globally.

According to The Banker, “Africa’s biggest winner in this year’s ranking is development finance lender Afreximbank, whose Tier 1 capital base grew by 26.9 percent in 2022, seeing it rise 78 positions to 297th place in the overall rankings. The Cairo-based bank announced a capital raising program in late 2021, which had generated $1.3bn of new capital by the end of 2022.”

The Banker Magazine has released its latest ranking of top 1000 world banks, which shows that Nigerian banks had a mixed year in 2022 as the country’s two largest, “Zenith Bank and Access Bank, both saw their Tier 1 capital positions drop by around eight percent and their pre-tax profits in dollar terms fall 9.2 percent and 13.8 percent respectively.

Fourth-placed United Bank for Africa was the best performer of the country’s largest banks in this year’s rankings, recording a 13.4 percent rise in Tier 1 capital and a 17.3 percent rise in pre-tax profits.” The rankings, published in the July 2023 edition of The Banker Magazine of the Financial Times Group, United Kingdom, were based on the 2022 year-end Tier-1 capital of banks globally.

According to The Banker, “Africa’s biggest winner in this year’s ranking is development finance lender Afreximbank, whose Tier 1 capital base grew by 26.9 percent in 2022, seeing it rise 78 positions to 297th place in the overall rankings. The Cairo-based bank announced a capital raising program in late 2021, which had generated $1.3bn of new capital by the end of 2022.”