Standard Bank (50th place), Millennium bim (61st) and BCI (69th) are the three Mozambican banks in the top 100 in Africa, published by The Banker magazine. All improved their performance compared to the previous year. In the continent’s ranking, South African banks dominate the list with four banks in the top four.
The Top 100 African Banks is published annually by The Banker magazine and ranked according to the Tier 1 Capital indicator, the most widely used criterion in the world for analysing the solvency of the banking sector. According to this criterion, Standard Bank Moçambique (part of the South African Standard Bank group) is the best-ranked bank in the country, in 50th place, up 19 places on last year’s ranking. It is followed by Millennium Bank (Millennium bim), in 61st place (it was 60th) and BCI – Banco Comercial e de Investimentos, which is in 69th place, whereas in 2002 it was not included in the list.
By assets, the positions are reversed. BCI – Banco Comercial e de Investimentos leads the way with 3.1 billion dollars, making it the 66th largest in Africa. Second is Millennium bim, with 3 billion dollars (75th on the continent) and third is Standard Bank with 2.5 billion dollars (83rd). Finally, when it comes to profitability, the differences are less significant: BCI is in the lead with 172 million dollars in pre-tax profits, followed by Standard Bank with 143 million and Millennium bim with 142 million dollars.
In terms of the continent’s largest banks, this year’s list continues to be led by the trio of South African mega-banks Standard Bank, FirstRand and Absa Group. By country, South Africa dominates the ranking, with four banks in the top four (the fourth is Nedbank Group), although it only has seven institutions in the top 100 (compared to 15 in Egypt or 11 in Nigeria). As far as the best performing banks are concerned (The Banker’s analysis takes into account various factors such as profitability, growth, liquidity, solvency and asset quality), South Africa’s Capitec Bank Holdings was the best performer (for the third year running).
The figures below represent the positions of the ten largest African banks, according to The Banker magazine’s ranking, organised by the Tier 1 Capital criterion (*).
- Standard Bank Group, South Africa, 11.6 billion dollars
- FirstRand, South Africa, 10.1 billion dollars
- ABSA Group, South Africa, 8.1 billion dollars
- Nedbank Group, South Africa, 5.9 billion dollars
- Afreximbank, Egypt, 4.9 billion dollars
- Attijariwafa Bank, Morocco, 4.8 billion dollars
- Groupe Banques Populaire, Morocco, 4.3 billion dollars
- Bank of Africa, Morocco, 2.6 billion dollars
- CIB Egypt, Egypt, 2.5 billion dollars
- Zenith Bank, Nigeria, 2.5 billion dollars
- Standard Bank, Mozambique, 410 million dollars
- Millennium bim, Mozambique, 363 million dollars
- BCI, Mozambique, 300 million dollars
- Tier 1 Capital is the most widely used indicator for analysing the solvency of the banking sector, corresponding to core capital, i.e. share capital and accumulated reserves (sum of undistributed profits).
Source: Top 100 African Banks, The Banker magazine (November 2023)
It should be noted that Mozambique and Angola are the only member countries of the Community of Portuguese Speaking Countries (CPLP) in this ranking. Angola has five banks in the top 100 African Banks, with BAI – Banco Angolano de Investimentos in 26th position, Banco BIC (27th), BFA – Banco de Fomento Angola (28th), Standard Bank (63rd) and Banco Millennium Atlântico (65th), all of which significantly improved their performance compared to last year’s list.