Four Nigerian banks among top 500 banking brands in the world in 2016

According to the 2016 Top 500 banking brands ranking published in the February edition of The Banker magazine of Financial Times Group in conjunction with Brand Finance, London, United Kingdom, First Bank of Nigeria is in 320th position out of 500 top banks in the world in 2016. It has moved up from it's former position of 336th from last year.

First Bank of Nigeria Limited retained its number one banking brand ranking in Nigeria for the fifth consecutive year in the global ranking of banks by The Banker magazine.

A press release from the Country Representative of The Banker magazine in Nigeria, Kunle Ogedengbe, added that three other Nigerian banks also made the ranking of the top 500 banks in the World.

First Bank of Nigeria is in 320th position out of 500 top banks in the world in 2016

Guaranty Trust Bank is 389th in the world from 417th in 2015

Zenith Bank dropped from 392nd in the world in 2016

United Bank for Africa is in the 447th position.

Of the five countries in Africa that made the ranking, Nigeria has the highest brand value increase of $249 million. 

Egypt moved up by $239 million

Togo gained $134 million while South Africa and Morocco lost $878 million and $213 million respectively.

Globally, Wells Fargo of the United States of America retained the number one banking brand in the world for the fourth consecutive year with a brand value $44.1 billion for 2016