Twenty-two African Banks Make Global Top Performers List

Forbes has named 22 African banks from 13 countries across the continent among the world’s top performers in its inaugural ranking. The list covers 500 banks from 89 countries and scores institutions on financial strength rather than size. Banks were assessed on profitability, growth and earnings quality, capital and funding resilience, and asset quality and efficiency. Eligible institutions needed more than $3 billion in assets, among other requirements. Egypt and Kenya had the largest representation among African countries, with four banks each, while Nigeria, Tanzania, and Tunisia each had two. The National Bank of Egypt was the continent’s only representative among banks with $100 billion to $500 billion in assets. The list also included institutions from Ethiopia, Algeria, Mauritius, South Africa, Gabon, Morocco, the Democratic Republic of Congo, and Namibia.