By InvestAdvocate
Lagos (INVESTADVOCATE)-Fidelity Bank Plc has emerged Nigeria’s Healthiest Bank by The Banker Magazine, a publication of Financial Times of London in its current ranking of the global top 1000 Banks.
The Banker Magazine affirmed that in the ranking report that two (2) Nigerian Banks featured in the Capital Adequacy Ratio (CAR) measurement.
The Banks are Fidelity Bank, with a Capital to Asset Ratio of 28.8 percent (28.8%), making it the healthiest Bank in Nigeria. While First City Monument Bank (FCMB), comes second with a ratio of 23.89%; with both Banks making the list of the global top 1,000 healthiest Capital to
Asset Ratio Banks in the world.
The Bankers Magazine also reported that Fidelity is ranked as the 6th largest Bank in Nigeria by Tier One Capital, with $867million; making it the 17th largest in Africa and 618th in the world.
Fidelity’s Shareholders Funds which is well above N130 billion in the local currency was once above USD1.1billion but dropped because of Exchange Rate Variation. This affected all Nigeria Banks and most of African Banks.
Other Nigerian Banks ranked include Zenith Bank Plc, First Bank Plc, Guaranty Trust Bank Plc, Access Bank Plc, United Bank for Africa Plc and Skye Bank Plc among the global top 1000 Banks.
The Banker Magazine said Zenith Bank is the biggest Bank in Nigeria having $2.398million in Capital compared to $2.405 billion of last year.
Zenith was followed by First Bank with $2.262million; GTBank third with $1.47million.
According to the ranking, Zenith is seventh (7th) in Africa and 322nd in the World; First Bank is eighth (8th) in Africa and 338th in the world; while GTBank is 11th in Africa and 455th in the world.
The order of ranking is as follows: Zenith, First Bank, GT Bank, Access Bank, UBA, Fidelity, FCMB and Skye Bank.
The Banker Magazine further affirmed that Bank of America which occupies the first position in the global ranking has a Capital Base of $163.626 billion; and followed closely by JPMorgan Chase with a Capital of $142.450 billion. The third position is occupied by HSBC, a British Bank with a Capital Base of $133.179 billion. China has three (3) Banks in the top ten positions, while Japan has just one (1).
Also, it said Standard Bank Group of South Africa with Capital Base of $9.842billion is Africa’s largest Bank by the ranking. “The first four Banks in Africa are from South Africa, with the fifth from Morocco†the Banker Magazine said.
