How knowledgeable are you about banks in Africa and their assets? Did you know, there are 763 commercial banks located across the 54 countries that make up the African continent?
Reports say, Kenya and Egypt have the highest concentration of commercial banks in Africa at 39 and 37, respectively. On the other hand, Tanzania has 34 commercial banks, followed by Nigeria with 24, Uganda with 24 and Ghana with 23.
READ ALSO:20 Topline African Countries With Highest Benchmark Lending Rates
Note that the African continent has a smaller number of commercial banks compared to other continents. For context, Asia has at least 1,900, European Union has about 6,000 while the USA has more than 4,000.
In the same vein, African banks have significantly lower valuations compared to their foreign counterparts. But this is not to say that all African banks have low valuations. As you will see shortly, some African banks have total assets valued at over $100 billion. Assets include all the properties, cash, account receivables and other valuable resources owned by corporations such as banks.
Below are the largest banks in Africa by asset size. List is comprised mostly of South African and North African banks.
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