(3 minutes read)
· Equity is ranked 754 among the top 1000 best banks globally by the Financial Times Banker Magazine .
· The ranking was based on metrics such as the size of the lender, financial soundness, profits on capital, and return on assets. Last year, the African bank was ranked at 844th position. This year, it is moving up by 90 notches compared to last year’s reckoning.
Equity is ranked 754 among the top 1000 best banks globally by the Financial Times Banker Magazine . The ranking was based on metrics such as the size of the lender, financial soundness, profits on capital, and return on assets. Last year, the African bank was ranked at 844th position. This year, it is moving up by 90 notches compared to last year’s reckoning.
Another important feature is that Equity was ranked at position 62 on Capital Assets Ratio and Financial Soundness, which is an improvement of 13 spots, from last year. In the case of Return on Assets, the bank occupies 20th position and 55th rank on profit on capital. Return on Assets was at 3.35%; Profit on Capital was at 23% and Capital Assets Ratio was 14.56%. In Africa, Equity is placed in position 22nd of the best banks by the FT Banker Magazine.
Africa remains a minor player in global banking terms. The continent’s banking industry accounted for less than 1% of global Tier 1 capital in 2019 making it the smallest regional player, behind Latin America with just over 2%. However, five African countries- South Africa, Morocco, Nigeria, Egypt and Ethiopia have registered impressive growth in the performance of the banking sector.
