(BIZ NEWS) Eight Nigerian banks among Africa’s Top 25

It is clear in “The Banker magazine Top 1000 global banks,” that emerging markets growth prospects will be superior to those of Western Europe for some time. This is because the report shows that top 25 countries for return on capital are all emerging markets, with the exception of commodity-driven economies in Australia and Canada. 

The Banker magazine’s endorsement, which has become an instrument that central banks and bankers seek after as a marketing tool report, shows that Tier 1 capital (consisting primarily of common stock and disclosed reserves-or retained earnings, but may also include non-redeemable non-cumulative preferred stock) of the Top 1000 Banks aggregates for 2011 was put at $5,746billion as against $5, 434billion of 2010; an improvement of 5.7 percent.

Amid this feat, eight Nigerian banks made the list of 25 top African banks according to the same “The Banker Top 1000 banks”.

These banks are Zenith Bank plc, First Bank of Nigeria plc, Guaranty Trust Bank plc, Access Bank plc, United Bank for Africa plc, Fidelity Bank plc, First City Monument Bank plc, and Skye Bank plc. This is also in addition to Togolese-based Ecobank Transnational.

Now its certain  that we have hope in the Nigeria Banking Industry, many thanks to all the CEO's working to put these financial institution on the right pedestal.

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