The list of 10 best banks in Africa would help you to have safe dealings and pick the best financial services provider.
Top banks are the key business players of any industry and any country. Top 10 banks in Africa are the foundations for its economic growth and development. Presently, they are doing pretty good despite all the local currency shifts and changes. Some African banks remain listed among the 1000 top world’s banks.
However, bank’s asset is not the only thing that of great importance. Bank is all about services. It has to be convenient and available. So, in this list of top 10 commercial banks in Africa we will consider such factors as the number of ATMs and branches around the country. Here we go:
10. CPM or Credit Populaire du Maroc (Morocco)
The bank employs almost 12 thousand people. It serves over 3 million clients through the network of 1000 branches. Most of its income comes from consumer credits. It runs a collection of 11 different financial organizations.
Bank Asset: $27 billion
Coverage Range in Africa: Morocco
Number of branches and ATMs: 1000 branches
9. Banque Misr (Egypt)
The bank was founded in 1920. Forty years later the government nationalized the bank. It is not the oldest bank of Egypt, but it has a long history of market operation.
Bank Asset: $29 billion
Coverage Range in Africa: the bank mostly operates in Egypt
Number of branches and ATMs: 480 branches and 1232 ATMs
8. Investec Bank (South Africa)
The bank specializes on managing assets and wealth.
Coverage Range in Africa: operates in four countries: South Africa, Ireland, Australia and UK. Even though presently its headquarters are in Dublin, Ireland, the bank was founded in Johannesburg. The bank has 6 thousand people on staff with it.
Bank Asset: $31 billion
7. BAE or Banque Exterieure d’Algerie (Algeria)
The bank was founded in 1967. This bank mostly operates in its local country.
If you happen to be in Algeria, you would know the largest and most reliable bank to use there.
Bank Asset: $34 billion
6. Attijariwafa Bank (Morocco)
Here is another one of top 10 banks of Africa. It is a reputable and old bank founded in 1904. The bank currently takes 293 position among the top 1000 world’s banks.
Bank Asset: $40 billion (MAD 343 billion)
Coverage Range in Africa: operates in 10 African countries and 13 other states of Europe and Asia.
Number of branches and ATMs: over 500 branches in Africa
The bank employs over 16 thousand people. Its headquarters is located in Casablanca, Morocco.
5. National Bank of Egypt
This bank has taken over almost one quarter of all the banking business in Egypt. No wonder, because it is an oldest of the all Egyptian banks. It was founded in 1898 and operates not only in its own country, but in NY, London and other parts of the globe.
Bank Asset: EGP 366 billion ($51 billion)
Coverage Range in Africa: operates mostly in Egypt, but has a branch in Johannesburg.
Number of branches and ATMs: 338 branches and 2025 ATMs
In the 50ss of the last century this bank has performed as the central bank of the country. Over the last years the bank had significant financial growth. It ranks 226 among the top 10 banks of the world.
4. Nedbank Group (South Africa)
According to Reuters its market cap amounts to R123,850.20. It was founded back in 1888 in Netherlands with a subsidiary in South Africa. The Group was formed in 2003, when the Nedbank purchased Imperial Bank South Africa.
Bank Asset: $9 billion (around Zar 90 billion)
Coverage Range in Africa: over 30 countries (in alliance with Ecobank)
Number of branches and ATMs: operates 763 branches, 3585 ATMs and 279 kiosks
The bank services almost 7 million people in Africa. The most income of this bank comes from household’s deposits and motor finance. Ecobank and Nedbank through their alliance have created one of the largest banking networks in Africa.
3. First Rand Group (South Africa)
What we presently know as the First Rand Group started back in 1970. The bank underwent several merges and acquisitions. It was the very first one to obtain the license from the South Africa Reserve Bank.
Bank Asset: R89 billion
Coverage Range in Africa: 8 countries, including Nigeria.
Number of branches and ATMs: 2200 ATMs and 1000 branches across Africa
The bank services over 4 million people and has almost 36 thousand people working on staff with it. In 2014 the normalized bank earnings amounted to R18+ billion.
2. Barclays Africa Group (South Africa)
This second position among the top 10 banks in Africa comes from the UK. What we know today as Barclays Africa Group used to be ABSA Group Limited founded in 1991. It was purchased by the Barclays Group in 2005 and has become its African subsidiary. Presently the UK owner has over 62 percent of the former ABSA in its possession.
Bank Asset: R97 billion
Coverage Range in Africa: operates in 17 African countries
Number of branches and ATMs: 10 400 ATMs and 1 300 outlets
The aim of this bank is to become number 1 place to turn to in Africa. Currently they are employing over 43 thousand people and keep on increasing the number of outlets to improve servicing their clients. In fact, it has the largest clientele in Africa – over 14 million people.
1. Standard Bank Group (South Africa)
Presently this bank is listed as 123 among all the top banks in the world. No wonder that it is a bank of South Africa. For many years South Africa economy was the leading one on this continent.
And only of late Nigeria has outpaced it. Previously Standard Bank Group used to take 116 position in the top world’s bank ranking. It has slipped down a bit due to main asset loss.
Bank Asset: $165 billion or 1 907 billion Rand
Coverage Range in Africa: operates in 20 African countries and 12 states in other regions of the globe
Number of branches and ATMs: owns 9 300 ATMS plus over 1 200 branches
The bank has been around for over 150 years. The number of its outlets makes the bank not only reliable, but easily available as well. It has almost 50 thousand workers on stuff with it.
As you may see, such factors as local presence and number of outlets are among the important factor for choosing your bank. Some of the information from can help you make up your mind on the best bank to work with or work for.