Top 15 largest banks in Africa by assets

At a Glance

• Africa’s top banks fuel economic stability, lending billions into sectors like energy, infrastructure, and digital banking while anchoring national GDPs across key markets.
• South African, Moroccan, Egyptian, and Nigerian banks dominate the continent, leveraging mergers, risk discipline, and digital tools to weather market volatility.
• With combined assets exceeding $900 billion, these banks act as financial lifelines, enabling cross-border trade, capital flows, and growth across Africa’s emerging economies.

Africa’s largest banks are more than financial institutions — they are anchors of economic stability and engines of growth.

Their vast asset bases, built on mergers, disciplined risk management, and strong lending capacity, position them as trusted custodians of public and private wealth.

South Africa’s Standard Bank, FirstRand, Absa, and Nedbank, alongside Morocco’s Attijariwafa Bank and Egypt’s National Bank of Egypt, dominate not just in size but in influence, with market capitalizations often exceeding $20 billion — a testament to resilience and investor confidence in volatile markets.

These banks power the continent’s development, channeling capital into energy, agriculture, infrastructure, and digital banking, while enabling trade and credit flows that underpin national GDPs.

In Nigeria, lenders like Access Bank, Zenith, UBA, and FirstBank have weathered currency pressures and regulatory hurdles, leaning on cross-border expansion and fintech adoption to stay competitive. North Africa’s Banque Populaire and Bank of Africa mirror this steady financial evolution.

Collectively, the 15 institutions tracked by Shore.Africa do more than manage capital — they bridge fragmented markets, fuel enterprise, and mirror Africa’s economic heartbeat. Their scale, reach, and resilience firmly position them as both architects and barometers of the continent’s financial future.

1. Standard Bank Group (South Africa)
   Total Assets: R3.27 trillion($174.55 billion) | Market Cap.: R366 billion($19.2 billion).
   
   
   
2. FirstRand (South Africa)
   Total Assets: R2.54 trillion ($138.8 billion) | Market Cap.: R397 billion($20.81 billion).
   
   
   
3. National Bank of Egypt (Egypt)
   Total Assets: EGP6.44 trillion($127.37 billion) as of March 2024
   
   
   
4. Absa Bank (South Africa)
   Total Assets: R2.07 trillion($108.39 billion) | Market Cap.: R154 billion($8.07 billion)
   
   
   
5. Attijariwafa Bank (Morocco)
   Total Assets: MAD726.5 billion($77.98 billion) | Market Cap.: MAD142.85 billion($15.33 billion)
   
   
   
6. Nedbank (South Africa)
   Total Assets: R1.42 trillion($74.48 billion) | Market Cap.: R120 billion($6.29 billion)
   
   
   
7. Banque Populaire (Morocco)
   Total Assets: $52.07 billion | Market Cap.: MAD54.89 billion($5.89 billion)
   
   
   
8. Investec (South Africa)
   Total Assets: $39.82 billion | Market Cap.: R78.8 billion($4.14 billion)
   
   
   
9. Banque Nationale d’Algérie (Algeria)
   Total Assets: $32.23 billion
   
   
   
10. Access Bank (Nigeria)
    Total Assets: N41.5 trillion($25.85 billion) | Market Cap.: N1.14 trillion($710.81 million)
    
    
    
11. Commercial International Bank (Egypt)
    Total Assets: EGP1.05 trillion($20.59 billion) | Market Cap.: EGP234.63 billion($4.6 billion).
    
    
    
12. Zenith Bank (Nigeria)
    Total Assets: N29.96 trillion($18.67 billion) | Market Cap.: N2.05 trillion($1.28 billion)
    
    
    
13. United Bank for Africa (Nigeria)
    Total Assets: N30.32 trillion($18.9 billion) | Market Cap.: N1.08 trillion($673.19 billion)
    
    
    
14. First Bank of Nigeria (Nigeria)
    Total Assets: N21.58 trillion($13.45 billion) | Market Cap.: N1.02 trillion($635.75 million).
    
    
    
15. Bank of Africa (Morocco)
    Total Assets: $12.64 billion | Market Cap.: MAD40.4 billion($4.33 billion).