The Africa Report has released its 200 banks ranking report based on how banks got back to business and grew in terms of assets in 2017.
In 2017, top banks reported total assets of $1.74 trillion compared to $1.47 trillion in 2016. Top 200 banks also had profits that grew from $21.6 billion in 2016 to $25.2 billion in 2017.
It was reported that most African regulators were not just keen on growth but also the ability of the banks to finance the private sector.
The best performing bank in Kenya Equity Bank Group was ranked #59 on the list.
Morocco had top-performing banks including Attijariwafa bank ranked #8, while Banque Central Populaire ranked #10. BMCE Bank of Africa came in at #13.
The best performing bank in Nigeria was Zenith Bank and it was ranked #21. Ethiopia’s best-performing bank was ranked #152.
The Africa Report based the rankings on total asset size information submitted by all African banks during the two consecutive years since 2017.