Commerbank Among Top 50 Banks In Africa

Accra, - Ghana Commercial Bank (GCB) has been ranked among the top 50 Banks in Africa with economic power, according to a study conducted by "Jeune Afrique" magazine on mature banks in Africa. Banks from only 13 countries qualified in the ranking which was based on capital base formation, the latest edition of the magazine said. GCB placed 48th and was one of the banks in three countries in West Africa to qualify for the exercise conducted between 1993 to 1996. The study on GCB was held in the year ending December 31, 1995. The study put the bank's capital base at 46 million dollars with a profit after tax holding of 392 million dollars. Nigeria had the highest number of six banks and a capital of 598 million dollars while Cote d'Ivoire had two with a capital base of 101 million dollars. According to the study, South Africa dominated the African banking landscape. They had a total of 5.6 billion dollars. In terms of regional grouping, North Africa led with five countries and 27 banks. There were 12 Egyptian banks and five Moroccan banks. No bank was listed from Central Africa. The ranking, according to the study, reflected the distribution of economic power in Africa.

Accra, - Ghana Commercial Bank (GCB) has been ranked among the top 50 Banks in Africa with economic power, according to a study conducted by "Jeune Afrique" magazine on mature banks in Africa. Banks from only 13 countries qualified in the ranking which was based on capital base formation, the latest edition of the magazine said. GCB placed 48th and was one of the banks in three countries in West Africa to qualify for the exercise conducted between 1993 to 1996. The study on GCB was held in the year ending December 31, 1995. The study put the bank's capital base at 46 million dollars with a profit after tax holding of 392 million dollars. Nigeria had the highest number of six banks and a capital of 598 million dollars while Cote d'Ivoire had two with a capital base of 101 million dollars. According to the study, South Africa dominated the African banking landscape. They had a total of 5.6 billion dollars. In terms of regional grouping, North Africa led with five countries and 27 banks. There were 12 Egyptian banks and five Moroccan banks. No bank was listed from Central Africa. The ranking, according to the study, reflected the distribution of economic power in Africa.