Top 10 Banks In Africa

The largest banks in Africa excel in cross-border operations and lead the way in adopting and adapting to new technologies. Their strong financial foundations and extensive global networks ensure they remain key players in Africas Top 100 Banks 2024.

South Africas Standard Bank Group has consistently retained its position as Africas top bank, with the National Bank of Egypt holding firmly to second place for the fourth consecutive year. Standard Bank also leads in profitability, reporting a net profit of 2.7 billionan 18 increase from the previous year.

While the gap between the two frontrunners has narrowed slightly, Standard Bank still maintains a commanding lead with Tier 1 capital of 12.5 billion, more than two-thirds higher than the National Bank of Egypts 7.5 billion, according to African Business Magazine .

Moroccos Attijariwafa Bank has made significant gains, rising three places to third position after boosting its Tier 1 capital by 12 to reach 6 billion.

In contrast, many of Africas other leading banks have seen declines in their core capital compared to the 2023 rankings. The sharp depreciation of Nigerias naira against the US dollar has had a notable impact, as banks report financials in local currency.