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Five Nigerian banks have been ranked among 1000 global banks by The Banker Magazine’s 2018 1000 Global Bank.

According to The Banker, Africa’s economic fortunes improved over the 2017 review period following a difficult couple of years in which lower commodity prices hit the performance of the continent’s largest markets.

“This slowly improving economic climate was reflected by the growth trajectory of Africa’s banks which have, across the board, posted relatively strong numbers in the 2018 Top 1000 World Banks ranking,” the report stated.

Africa’s highest movers table was dominated by lenders from South Africa. Among the top 10 African banks by Tier 1 capital, only Nigeria's Zenith Bank made the list, South Africa’s Standard Bank scooped the top spot with $10 billion capital. This, the report stated, was a significant jump from the $8.6 billion in Tier 1 capital the bank recorded in the 2017 ranking. Accordingly, its position in the global table has climbed from 149th to 145th.

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Other South African lenders that performed well include FirstRand which maintained the second position in the Africa table while growing its Tier 1 capital position, while Nedbank also posted an increase to its Tier 1 capital despite surrendering the third spot in the table to the ABSA Group.

Others are Attijariwafa bank and Groupe Banques Populaire in Morocco, Ecobank Transnational in Togo and Investec South Africa.

Here are the top five Nigerian banks by Tier-1 capital:

1. Zenith Plc

Rank: First in Nigeria,10th in Africa and 402nd bank in the world

2. Guaranty Trust Bank Plc (GTBank)

Rank: Second in Nigeria, 14th in Africa and 576th in the world

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3. FirstBank Nigeria Limited

Rank: Third in Nigeria, 16th in Africa and 592nd in the world

4. Access Bank Plc

Rank: Fourth position, 18th in Africa and 630th bank in the world

5. United Bank for Africa Plc

Rank: Fifth in Nigeria, 25nd in Africa and 856th in the global ranking.

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