Zenith Bank, Access Bank, Two Other Nigerian Banks Make List Of Africa’s Best Financial Institutions

FOUR Nigerian-owned banks have been included in the list of the World’s Best Banks for the African region in 2024.

According to the report published by Global Finance, the strength and resilience demonstrated by the financial institutions based in Africa have been linked to the shrewdness and prowess exhibited by the banks’ top leadership and management.

This comes amid the huge challenges faced by financial institutions in the region owing to the economic crisis currently rocking the continent.

Nigerian-owned banks are among Africa’s best

Among the 32 banks sampled across 36 African countries, four Nigerian-owned banks made the prestigious list, three of them as the top banks in other countries.

1. Zenith Bank Plc — Nigeria

Zenith Bank Plc has over 10,000 staff globally spread across 500 branches and business offices in Nigeria. The bank also has its other African subsidiaries in Ghana, Sierra Leone, Gambia, and South Africa.

From the report, the bank came tops in Nigeria.

2. Access Bank — Ghana

Access Bank, owned by Access Bank Group, is a multinational commercial bank with subsidiaries in the Democratic Republic of the Congo, Ghana, Kenya, Nigeria, Rwanda, Gambia, Sierra Leone, South Africa, Zambia, and the United Kingdom.

The bank won the best bank in Ghana and has recently indicated an interest in Kenya, where it is in the process of buying over the National Bank of Kenya (NBK) at an estimated $100 million price tag.

3. United Bank for Africa (UBA) — Burkina Faso and Sierra Leone

The bank enjoys patronage from over 21 million customers spread across 1,000 branches in 20 African countries. UBA was named as the best bank in Burkina Faso and Sierra Leone.

The bank, however, is facing some threats in Burkina Faso as the country has indicated interest in aligning with Mali and Niger to form a separate alliance aimed at exiting the ECOWAS bloc, and the West African Economic and Monetary Union.

4. Guaranty Trust Bank (GTB) — Gambia

Guaranty Trust Bank (GTB) founded in 1990 is a global financial institution. It transitioned into a holding company known as GTCO Plc following the corporate reorganisation of GTB in 2021. It currently has subsidiaries in Cote D’Ivoire, Gambia, Ghana, Liberia, Kenya, Rwanda, Tanzania, Uganda, and Sierra Leone, and the United Kingdom.

GTB won the best bank prize in Gambia.

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