Four Nigerian Banks Named Among World’s Top 500

United Bank for Africa Plc, Zenith Bank Plc, First Bank and Guaranty Trust Bank have been named among the world’s top 500 banks, in a survey by The Banker magazine.

The 2016 The Banker and Brand Finance Top 500 Banking Brands report showed that First Bank retained its number one banking brand ranking in Nigeria for the fifth consecutive year, while moving up the global scale by 16 places, rising from 336th position in 2015 to 320th this year.

GTB moved to 389 in the world from 417 in 2015, while Zenith Bank dropped from 388 in 2015 to 392 in 2016.

UBA returned to the ranking in 447, while Access Bank Plc dropped from the 2016 ranking. Access Bank was ranked 496 in 2015.

First Bank’s brand value, which is the licensing rate that a third-party would need to pay to use the bank’s brand, increased to $322 million in 2016 from $300 million in 2015 while that of GTB also increased to $243 million from $213 million. The 2016 brand value of Zenith Bank increased to $238 million from $235 in 2015 while UBA, which made a return to the ranking since 2012, has a brand value of $198 million. UBA’s brand value in 2012 was $121 million.

Meanwhile, among the five countries in Africa that made the ranking, Nigeria has the highest brand value increase of $249 million. Egypt moved up by $239 million; Togo gained $134 million while South Africa and Morocco lost $878 million and $213 million respectively. While, Wells Fargo of the United States of America (USA) retains the number one banking brand in the world for the fourth consecutive year.

The Banker’s Top 500 Banking Brands ranking, in conjunction with Brand Finance, measures the value of financial services firms across the world, analysing specific sectors and geographies, and identifying the brands that have improved the most, as well as those that have suffered the greatest setbacks.