Tag Archives: Nigerian Banks

Four Nigerian Banks Among Global Top 500 Banking Brands

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First Bank of Nigeria ranks 320 in the 2016 top 500 banking brands ranking published by the Banker Magazine of Financial Times Group.

The bank moved up the scale 16 places from 336th position in 2015 to retain its number one banking brand ranking in Nigeria for the fifth consecutive year.

A press release from the country representative of the Banker Magazine in Nigeria, Kunle Ogedengbe, added that three other Nigerian banks also made the ranking.

They are Guaranty Trust Bank which moved to 389th position, Zenith Bank at 392nd, and United Bank for Africa at the 447th position.

Access Bank that made the ranking at 496th position in 2015 dropped from the 2016 ranking.

According to The Banker magazine, Nigeria has the highest brand value increase of $249m among the five countries in Africa that made the ranking.

Egypt moved up by $239m; Togo gained $134m while South Africa and Morocco lost $878mn and $213m.

The top 10 banks in the world are Well Fargo (USA); ICBC (China); China Construction Bank; Agricultural Bank of China; Chase (USA); Bank of China; Bank of America; Citi (USA); HSBC (UK); and Barclays (UK).

Credit: ChannelsTv

Nigerian Banks Most Regulated In The World- CBN

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The Deputy Governor of the Central Bank of Nigeria (CBN) in charge of economic policy, Mrs. Sarah Alade, has said banks operating in Nigeria are one of the most regulated in the world and expressed optimism that the era of bank failure was gone.

Alade declared this at the second Adegboyega Awomolo and Associates Colloquium in Abuja where she  dismissed the insinuations that the action of JPMorgan would lead to collapse of the Nigerian banks.

She said the various economic policies already put in place by the apex bank to supervise and monitor banks in the country would prevent the financial institutions from collapse.

The CBN deputy governor who spoke through a director in the bank, Mr. Emmanuel Ukeje, explained that the JPMorgan was just an international bank whose action cannot in anyway spell doom for the country with its removal of Nigeria from the index.

She disclosed that the international bank felt angry with Nigeria when the authorities refused to succumb to its recommendation that the country’s currency, the naira, be further devalued.

Read More: thisdaylive