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Four Nigerian banks among world’s top 500

By Gilbert Alasa.
A total of four Nigerian banks have been named among world’s top 500 banks. Guaranty Trust Bank Plc, Zenith Bank Plc, First Bank of Nigeria Limited and United Bank for Africa were listed by United Kingdom-based The Banker Magazine as among world’s most reputable banking institutions.
In the 2016, The Banker and Brand Finance Top 500 Banking Brands, 121-years old First Bank retained its number one banking brand position in Nigeria for the fifth year in a row.
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The bank also moved up the scale by 16 places, rising from 336th position in 2015 to 320th in 2016.
Elsewhere, GTB moved to 389 in the world ranking from 417 last year and Zenith Bank dropped from 388 in 2015 to 392 in 2016.
UBA returned to the ranking in 447, while Access Bank Plc, which ranked 496 in 2015 dropped from the current ranking.
Country Representative of The Banker magazine in Nigeria, Mr. Kunle Ogedengbe, said First Bank’s brand value rose to $322m in 2016 from $300m in 2015 while GTB increased to $243m from $213m.

The Banker, in its 90th year, is said to have a robust coverage of global finance and banking publication from the group of Financial Times Newspaper which is regarded as the most influential newspaper in the world.

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