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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 banking sector.

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
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Author:Versi, Anver
Publication:African Business
Article Type:Cover story
Geographic Code:60AFR
Date:Nov 1, 2006
Words:177
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