DURBAN - A list of the Top 1000 banks in the world has been released by The Banker.
South African bank Standard Bank has topped the list of the best banks on the African continent. The next three banks are also South African and the National Bank of Egypt is in fifth place.
Altogether 5 South African banks appear in the top of Africa's best banks.
The report by the Banker stated that among the top African banks b Tier 1 capital, Standard Bank is once again in top spot with $10 billion.
According to the Banker, it was a major jump from the $8,6 billion they recorded in 2017 Tier 1 capital rating.
However, in comparison to the world rankings, Standard Bank is only ranked at 145. Although in move up from position 149 in 2017 to 145 in 2018.
Below is a table showing the top 10 African banks and where they stand on the world rankings:
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African
ranking
World
ranking
Bank
Country
Tier 1
Capital
1
145
Standard Bank
South Africa
$10,129 million
2
173
FirstRand
South Africa
$8,425 million
3
184
Absa Group
South Africa
$7,752 million
4
217
Nedbank Group
South Africa
$5,741 million
5
288
National Bank of
Egypt
Egypt
$3,904 million
6
295
Attijariwafa Bank
Morocco
$3,822 million
7
300
Groupe Banques
Populaire
Morocco
$3,756 million
8
337
Ecobank
Transnational
Togo
$3,179 million
9
338
Investec South
South Africa
South Africa
$3,163 million
10
402
Zenith Bank
Nigeria
$2,466 million
The rest of the world
Altogether the world's biggest banks have close to 12% more Tier 1 capital in the 2018 ranking than compared to 2017.
Deutsche Bank and Credit Suisse Group were two of 10 banks that moved from loss to profit for 2018 while banks like the State Bank of India and Canara Bank has some of the worst losses for 2018.
According to the Banker, an encouraging sign of the industry's resilience is that capital is increasing at a faster pace than assets.
Here is a table showing the top banks in the world
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World
ranking
Bank
Country
World
region
Tier 1
Capital
1
ICBC
China
Asia-Pacific
$324,126 million
2
China Construction
Bank
China
Asia-Pacific
$272,215 million
3
Bank of China
China
Asia-Pacific
$224,438 million
4
Agricultural Bank
of China
China
Asia-Pacific
$218,104 million
5
JP Morgan Chase
& Co.
USA
North America
$208,644 million
6
Bank of America
USA
North America
$191 million
7
Wells Fargo
USA
North America
$178 million
8
Citigroup
USA
North America
$165 million
9
Mitsubishi UFJ
Japan
Asia-Pacific
$153 million
10
HSBC
UK
Europe
$151 million