These are 20 largest banks in Africa

Once again, Standard Bank Group has upheld its position as Africa’s largest bank by asset size. However, with a paid-up share capital of $1.3 billion, it falls below the National Bank of Egypt, which leads in capital base at $2.12 billion.

South Africa and Egypt lead the ranking of the 20 largest banks in Africa, with each country having five institutions featured on the list. Nigeria and Algeria follow, with three banks apiece, while Morocco has two representatives. Togo and Mauritius each contribute one bank to the list. This ranking is based on the most recently available data on total asset size.

Standard Bank Group (South Africa) – $184.6 billion

Standard Bank Group is the largest bank in Africa, with a total asset size of $184.6 billion. In 2024, the group posted a net income of $2.83 billion. Operating across 20 African countries, the bank had a total customer deposit of $112.2 billion at the end of FY 2024.

With a loan book of $93.3 billion, the bank is probably the biggest bank in terms of lending.

FirstRand (South Africa) – $143.5 billion

Another South African bank, FirstRand is the second largest African bank in terms of asset size. At the end of FY 2024, the bank had a total asset size of $143.5 billion, with a net income of $2.31 billion recorded at the end of the year ending June 30, 2024.

FirstRand is the parent group of First National Bank or FNB, a household name in South Africa. Under the FirstRand group, there is also Rand Merchant Bank and Wesbank. Rand Merchant Bank offers corporate and investment banking services across Africa. The group has a capital base of $424 million. However, it has a significantly larger customer deposit of $121.9 billion. It also has a loan book of $92.5 billion.

National Bank of Egypt (Egypt) – $137.5 billion

With a total asset size of $137.5 billion, the National Bank of Egypt is the largest in North Africa. The bank which is wholly owned by the Egyptian Ministry of Finance accounts for more than 20 percent of the total banking assets in Egypt. It also holds more than 20 percent of the total customer deposits in the country.

The bank has a loan book of $63.7 billion, with total customer deposits amounting to $86.6 billion. In six months ending June 2024, the bank posted a net income of $1.42 billion, positioning it as the most profitable bank in Africa. It has an international presence in Sudan through the National Bank of Egypt (Sudan) and the National Bank of Egypt (UK), as well as offices in the US and Shanghai, China.

Absa Bank (South Africa) – $116.8 billion

Absa Bank makes the list with a total asset size of $116.8 billion and a share capital of $690 million. The bank posted a net income of $1.41 billion for the 2024 financial year, ranking as one of the most profitable on the continent.

The bank has an international presence in Botswana, Ghana, Kenya, and Mauritius.

Nedbank (South Africa) – $80.1 billion

Rounding off the top 5 is Nedbank from South Africa. At the end of FY 2024, Nedbank had an asset size of $80.1 billion, with customer deposits of $66.3 billion. The bank has a loan book size of $54.3 billion, with the bulk of it, about 43 percent being mortgage loans.

In 2024, the bank achieved a net income of $1.04 billion, as its cash reserves grew to $3.1 billion.

Attijariwafa Bank (Morocco) – $79.2 billion

Attijariwafa Bank is the first Moroccan bank to make the list, as well as the largest bank in Morocco. It has an asset size of $79.2 billion, with customer deposits at $52.4 billion.

The bank’s loan book size is around $45.1 billion, with its net income in 2024 around $1.27 billion. The bank has a presence in 27 countries across Africa and Europe. With around 7,417 branches, it is the African bank with the highest number of branches.

Investec (South Africa) – $76.6 billion

Investec is the final South African bank on the list. The Anglo-South African bank has an asset size of $76.6 billion at the end of FY 2024. With a net income of $1.29 billion during the financial year, the bank posted a return on equity of 17.7 percent.

The bank has a primary focus on wealth management and investment banking, with its operations mainly in South Africa and the UK. At the end of 2024, the bank had a customer deposit of $53.6 billion with a loan book size of $41.6 billion.

Banque Misr (Egypt) – $69.4 billion

Banque Misr is the second Egyptian bank to make the cut with its total asset size of $69.4 billion at the end of FY 2024. Like the National Bank of Egypt, Banque Misr is also fully owned by the Egyptian government.

At the end of the period ending September 30, 2024, the bank had a total customer deposit of $47.1 billion. Its loan book at the end of the period grew to $23.9 billion.

Banque Populaire (Morocco) – $56.7 billion

Banque Populaire is the pseudonym of the Groupe BCP, which is Morocco’s second-largest bank. The bank which is headquartered in Casablanca has a total asset size of $56.7 billion.

It has a banking presence across the eight regions of Morocco, as well as other Francophone African countries such as Côte d’Ivoire, Benin, Burkina Faso, Mali, Niger, Senegal, and Togo.

Banque Nationale d’Algérie (Algeria) – $42.9 billion

The first Algerian bank on the list is Banque Nationale d’Algérie, the largest bank in the country. With a total asset size of $42.9 billion, the bank is the tenth-largest bank in Africa. It is a state-controlled bank.

Banque Extérieure d’Algérie (Algeria) – $34.7 billion

Banque Extérieure d’Algérie is the second largest bank in Algeria with a total asset size of $34.7 billion. In English, the name of the bank is translated to “the External Bank of Algeria” as it has about 106 branches across Algeria. It is a state-controlled bank.

Ecobank (Togo) – $28.9 billion

Although Nigeria is the bank’s largest single market, Ecobank Transnational Incorporated was founded and is headquartered in Lome, Togo. The bank, which is dual listed on the NGX (Nigeria) and BRVM (Cote D’Ivoire) has an asset size of $28.9 billion as of Q1 2025.

At the end of the quarter ending March 31, 2025, the bank’s loan book had grown to $9.93 billion. Customers’ deposit hit $21.5 billion, with its paid-up share capital at $2.1 billion.

Commercial International Bank (Egypt) – $25.5 billion

Commercial International Bank is the largest privately owned Egyptian bank with an asset size of $25.5 billion. At the end of March 31, 2025, the bank’s customer deposits had grown to $20.2 billion. Its loan book also grew to $7.34 billion at the end of the period.

In 2024, the bank posted a net income of $1.11 billion.

Crédit Populaire d’Algérie (Algeria) – $25.3 billion

Like the other Algerian banks on this list, Crédit Populaire d’Algérie is a state-controlled bank. The bank has an asset size of $25.3 billion, and according to its most recent financial statements, it had a loan book of $10.3 billion.

Access Holdings (Nigeria) – $24.9 billion

Access Holdings is the largest Nigerian bank in terms of assets, with an asset size of $24.9 billion as of Q1 2025. In 2024, the bank posted a net income of $473.9 million. As of Q1 2025-end, Access Bank had a loan book of $7 billion with a customer’s deposit of $14.8 billion.

MCB Group (Mauritius) – $21.5 billion

The only East African bank to appear is the Mauritius Commercial Bank (MCB Group), which posted an asset size of $21.5 billion as of March 31, 2025. At the end of the period, the bank had a customer deposit of $15.8 billion. The bank’s loan book as at last count was around $8.3 billion.

It is regarded as the oldest bank in Sub-Saharan Africa, with the Government of Mauritius being the largest shareholder with a 4.2 percent shareholding.

Zenith Bank (Nigeria) – $20.8 billion

As of Q1 2025-end, Zenith Bank had an asset size of $20.8 billion, making it the second-largest bank in Nigeria. The group was the most profitable corporate entity in Nigeria in 2024 with a $689 million net income.

Zenith Bank had a loan book of $6.4 billion with $14.5 billion in customers’ deposits.

United Bank for Africa (Nigeria) – $20.3 billion

United Bank for Africa (UBA) has an asset size of $20.3 billion as of Q1 2025. The Nigerian bank produced a $511 million net income in 2024. As at last count, its loan book had declined to $4.4 billion.

In terms of customers’ deposits, the bank had $14.4 billion, representing a loan-to-deposit ratio of 29.9 percent, one of the lowest among Africa’s largest banks.

Arab African International Bank (Egypt) – $17.7 billion

The Arab African International Bank is a multi-national bank domiciled in Egypt. The bank is jointly owned by the Central Bank of Egypt and the Kuwait Investment Authority. With an asset size of $17.7 billion as of March 31, 2025, there was a decline from $18.2 billion as of FYE 2024.

AAIB has a customers’ deposit volume of $12.7 billion as a loan book of $3.7 billion, marking a 29.1 percent loan-to-deposit ratio.

Qatar National Bank Egypt (Egypt) – $17.3 billion

Rounding up the top 20 is the Egyptian subsidiary of the Qatar National Bank, which has an asset size of $17.3 billion. The bank which is also known as Qatar National Bank Al Ahli, was founded in 1978.

The bank has a loan book of $7.3 billion with customers’ deposits at $14.7 billion.