A new ranking of Africa’s top banks by Tier-1 capital for 2024 has spotlighted a clear hierarchy, with South African, Egyptian, and Moroccan banks leading the charge, while Nigerian banks strive to retain their footing amid currency pressures.
According to a new report by Proshare title ‘Tier 1 Banks Report: Getting Bigger, Braver, and Dominant—The Class of 2025,’ Standard Bank Group led African banks with the most tier-1 capital of $13 million, followed by National Bank of Egypt with $7 million and Attijariwafa Bank of Morocco with $6 million in 2024.
Despite the dominance of North and Southern African banks, four Nigerian banks—FBN Holdings (First Bank of Nigeria), Access Bank, Zenith Bank, and United Bank for Africa (UBA)—also made the list, each with Tier‑1 capital of $2 billion. However, their rankings have been impacted by exchange rate volatility.
