Africa's top 100 banks.
THIS YEAR'S TOP 100 AFRICAN BANKS rankings reveal that the
continent is belatedly but determinedly following the global trend
towards consolidation. The watchword is big is beautiful. South African
banks, which are by far the largest in Africa both in terms of capital
and assets, have been consolidating for years. Nigeria has just gone
through a frenzied two-year period of mergers and acquisitions; when the
dust had settled, only two dozen banks remained standing. More M &
As are on the way as are partnerships with strong overseas financial
institutions. With the price of oil remaining high and with that
country's non-oil sector showing growth for the first time in
several years, Nigerians are anticipating an economic boom and the banks
are bracing themselves to deliver. Our Cover Story therefore includes a
detailed examination of the latest developments in Nigeria's
As in previous years, we have included a region-by region overview.
This special report was written by Moin Siddiqi and Neil Ford. The
tables were compiled by Moin Siddiqi and Omar Ben Yedder.
Anver Versi, Editor