According to Dubai based IC Publications which publishes The Banker and African Business magazines, NMB is positioned on number 66 with capital of U$329 million while CRDB follows closely at number 70 with capital of U$308 as of December 2018.
“Tanzania’s National Microfinance Bank has climbed to #66 in the Africa ranking with capital up 5 percent to $329m, and CRDB Bank is #70 on the Africa ranking, with capital up 3 percent to $308m but net profit down 19 percent to $28m,” the report said while describing the banking industry’s growth as being rosy this year because of slow economic growth.
In East Africa Ethiopia and Kenya have continued to dominate the landscape with state owned Commercial Bank of Ethiopia and the vibrant Kenya Commercial Bank leading the pack in the region.
“The biggest bank in East Africa is state-owned Commercial Bank of Ethiopia, which ranks at #18 in the listing, down from #15 in 2018 survey after tier 1 capital fell 9 percent to $1.5bn and assets stayed fairly constant at $20.8bn,” the report noted. Development Bank of Ethiopia, also state-owned, ranks #67 in the main table, although its figures have not been updated from last year, when the results to June 2017 were used.
Banks from across Africa and around the world are very interested in the potential for banking profits in Ethiopia. The $91.bn economy has regularly topped global tables for growth although it has slowed from 10.1 percent annual growth in 2017 to 7.7 percent in 2018, with the same forecast for 2019, the report added.
The key East African banking market remains Kenya, which achieved 6 percent growth in local currency in 2018 and is forecast for 5.8 percent growth in 2019 with a heavyweight $99.2bn economy (measured by GDP at current prices).
The region’s #2 is Kenya Commercial Bank (#29 in the continental ranking, up from #38, with growth in capital by 9 percent to $740m and assets up 13 percent to $6.1bn at December 2018). It is followed by Cooperative Bank of Kenya (#38 on the overall ranking, up from #42), then Diamond Trust Bank (#42, up from #51) and Equity Bank (#54, down from #52 as capital edged 3 percent lower to $430m and assets up 9 percent to $4.3bn.
On development banks, the report said, they are excluded from the African Business banking survey, but would be creditable performers if they were included. Total capital, reserves, […]
