South Africa’s Standard Bank topped the 2026 300 Finance Champions ranking of pan-African banking groups, as Nigerian lenders lost ground and the ranking’s publishers pointed to regulatory and credit pressures.
Published by Jeune Afrique and The Africa Report, the ranking placed Nigeria’s Zenith Bank second and Kenya’s NCBA third. GTCO, which led the 2025 edition, appeared in 10th place this year. UBA moved from fifth to 18th, while First HoldCo shifted from 12th to the bottom of the table.
The ranking’s publishers linked Nigerian lenders’ weaker positions to revised recapitalization requirements, the end of windfall gains tied to naira fluctuations and stricter accounting rules for nonperforming loans. The explanation spans capital requirements, currency-related gains and the accounting treatment of troubled loans.
In March 2024, the Central Bank of Nigeria (CBN) set minimum paid-up share capital at ₦500 billion for international commercial banks, ₦200 billion for national commercial banks and ₦50 billion for regional commercial banks. The international category had the highest threshold, followed by national and regional banks. Existing banks had until March 31, 2026, to comply. The CBN said the framework was intended to strengthen banks’ resilience and expand their capacity to support the economy. It cited economic shocks at home and abroad as a reason for raising the requirements. EconoTimes previously covered the framework in an earlier report on JPMorgan’s Nigerian merchant banking license application.
The 2026 edition also added a Real Economy Financing Champions category to measure how banks allocate resources for lending to businesses and households. The category adds a lending measure alongside the ranking of banking groups. BusinessDay quoted Julien Wagner, Jeune Afrique Media Group’s director responsible for special content, partnerships and media diversification, as saying the financial sector’s role is “more decisive than ever.”
