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Two Zimbabwean Commercial Banks Ranked Among African Top 100 |
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By
Eddyson Lugangwa
Posted 09 November 2006 @ 05:13 pm EET |
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Nairobi (IBTimes.com) - Two Zimbabwean commercial banks are ranked among Africa's top 100 banks. According to the latest survey based on shareholders' funds, Standard Chartered Bank (Zimbabwe) was ranked 58th with assets worth 480 million U.S. dollars in December 2004, the newspaper quoted a new report by a leading pan-African Business magazine as saying.
Barclays Bank of Zimbabwe was in the position of 71 with assetsworth 450 million U.S. dollars and a capital base of 63 million dollars over the same period.
These two Zimbabwean banks posted profits of 91 million dollarsand 53 million dollars respectively as in December 2004.
Commercial banks from Africa's largest economy, South Africa, continue to dominate the continent's banking sector both in terms of capital and assets.
The top five banks in Africa were Standard Bank Group, ABSA Group, Nedbank Group, Investec and FirstRand Banking Group, all from South Africa. Others in the top 10 were commercial banks from Morocco and Egypt.
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