Four Nigerian banks make top global top 500 banking brands
First Bank of Nigeria ranks 320 in the 2016 top 500 banking brands ranking published by the Banker Magazine of Financial Times Group.
The bank moved up the scale 16 places from 336th position in 2015 to retain its number one banking brand ranking in Nigeria for the fifth consecutive year.
A press release from the country representative of the Banker Magazine in Nigeria, Kunle Ogedengbe, added that three other Nigerian banks also made the ranking.
They are Guaranty Trust Bank which moved to 389th position, Zenith Bank at 392nd, and United Bank for Africa at the 447th position.
Access Bank that made the ranking at 496th position in 2015 dropped from the 2016 ranking.
According to The Banker magazine, Nigeria has the highest brand value increase of $249m among the five countries in Africa that made the ranking.
Egypt moved up by $239m; Togo gained $134m while South Africa and Morocco lost $878mn and $213m.
The top 10 banks in the world are Well Fargo (USA); ICBC (China); China Construction Bank; Agricultural Bank of China; Chase (USA); Bank of China; Bank of America; Citi (USA); HSBC (UK); and Barclays (UK).