Home ECONOMY KCB, Equity on the list of 2021 Africa’s top 25 lenders

KCB, Equity on the list of 2021 Africa’s top 25 lenders

by biasharadigest

KCB Group is placed in the first position as East Africa’s largest lender according to the 2021 Top 1,000 World Banks Ranking released by The Banker Magazine.

These rankings are published in the July 2021 edition of The Banker Magazine of the Financial Times Group, United Kingdom and is based on the 2020 year-end Tier-1 capital of banks globally.

KCB Capital Base

With a tier 1 capital of $ 1317 Million, KCB Group is at position 20 out of the top 25 banks in Africa, with Equity Bank with a $ 1,096 million capital ranked at position 22 in Africa.

Standard Bank held to its top place as Africa’s largest lender, a position it has held for over 20 years now — with a 5.8% gain in its Tier 1 capital base to stand at $ 11,160 Million.

However, Standard Bank dropped five places in the overall Top 1,000 to 157th place.

While South African lenders continue to occupy the top African positions in these World Rankings, a slowing economy resulting from the COVID-19 pandemic has hit banks here between the eyes.

Only three of South Africa’s top 7 banks were able to record an increase in the capital as high provisioning took a toll on their assets.

FirstRand and Absa Group, all based in South Africa, is ranked second and third, although their capital base declined by 15.5% and that of Absa Group by 2.1%.

National Bank of Egypt is Africa’s 4th largest lender and holds the 215th position in the top 1,000 while Nedbank of South Africa comes in at 5th position.

Banque Misr posted Africa’s best growth, with its capital base rising by a massive 84.2%, pushing the lender up 94 positions in this year’s Top 1000.

Morocco’s Attijariwafa Bank occupies the 7th position in Africa’s rankings.

The largest lender from West Africa is Nigeria’s Zenith Bank which is placed 12th.

The world’s top four biggest banks are ICBC, China Construction Bank, Agricultural Bank of China and Bank of China.

At the same time, fifth to eighth positions are occupied by JPMorgan Chase, Bank of America and Citigroup, all from the USA.

ALSO READ:Absa, Equity Group, KCB Group & Mpesa Among 25 Most Admired Financial Brands in Africa in 2021

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