In a time of rapid economic transformation, Africa’s banking sector is emerging as a strategic pillar for development and regional integration. The continent’s top 30 banks, spanning both mature markets and fast-growing economies, are posting strong performances fueled by diversified portfolios, demographic growth, and the rise of intra-African trade. Their influence now extends far beyond their national borders, positioning them as central players in Africa’s economic transformation.
From Johannesburg to Cairo, and from Casablanca to Lagos, Africa’s leading banks are shaping the continent’s economic landscape with ambition and resilience. At the top of the ranking, South Africa’s Standard Bank maintains its dominant position with assets exceeding $170 billion, a presence in over 20 countries, and headquarters in Johannesburg. It is followed closely by FirstRand, also South African, with a diversified portfolio and annual revenues nearing $8 billion.
Absa Group, another giant headquartered in Johannesburg, continues to expand its footprint in East and West Africa, while the National Bank of Egypt, based in Cairo, plays a critical role in financing major public and private projects across North Africa. Completing the top five is Attijariwafa Bank, headquartered in Casablanca, which operates in 26 countries and generates over $3 billion in annual revenue.
Beyond these heavyweights, the ranking showcases homegrown players that embody the resilience and innovation of African banking models. Coris Bank International, based in Ouagadougou, has emerged among West Africa’s fastest-growing banks with double-digit net banking income growth. Gabon’s BGFI, headquartered in Libreville but active in more than a dozen countries, is investing heavily in digital transformation and SME financing. Afriland First Bank, originating from Cameroon, continues to strengthen its pan-African network, while NSIA Banque, headquartered in Abidjan, is expanding its retail banking and insurance footprint.
With combined assets totaling several hundred billion dollars and rising market capitalization, these thirty institutions are no longer confined to serving their domestic markets. They are financing infrastructure, supporting governments in their development strategies, and driving the gradual financial deepening of African economies. Their geographical expansion, coupled with greater financial inclusion, reflects the continent’s shift toward a more integrated, competitive, and resilient banking system.
In the context of the African Continental Free Trade Area (AfCFTA), these regional champions are poised to play a decisive role in boosting trade, streamlining transactions, and helping shape a truly unified African market.
