Top 10 Biggest Banks In Africa By Customer Base

There are at least 763 commercial banks located across the 54 countries that make up the African continent. Compared to other continents, Africa has the least number of banks. The banking sector in the continent continues to grow with the advent of technology.

Compared to other continents, Asia has at least 1,900, the European Union has about 6,000 and the United States of America has more than 4,000 banks. Africa still has a huge potential to develop with major banks from other continents set to set up shop.

Kenya and Egypt have the highest concentration of commercial banks at 39 and 37, respectively. Tanzania has 34 commercial banks, followed by Nigeria with 24, Uganda with 24, and Ghana with 23. At one point, Kenya was said to be “over-banked.”

The first bank is Access Bank which has 45 million customers followed by First Bank with 35 million customers. Commercial Bank of Ethiopia follows closely with 34 million customers while GT Bank has 25.7 million customers.

UBA has 25 million customers while Zenith and Capitec have 18.7 and 18 million customers respectively. National Bank of Egypt and Equity Bank have 17.8 and 16.9 million customers each.

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In Kenya, Equity is the largest bank in terms of customer base with 16.9 million. Other large banks in Kenya include; NCBA Bank, Absa Bank Kenya, Co-operative Bank of Kenya, Family Bank, and KCB Group. Most Kenyan banks are known in terms of their asset base.

Kenya banks are hugely influenced by technology. Roughly 90 percent of all banking transactions in Kenya are currently done via mobile. Some banks have as much as 99 percent of their transactions being outside the banking hall.

Top banks in Africa by customer base:

• Access Bank – 45 million
• First Bank – 35 million
• Commercial Bank of Ethiopia – 34 million
• GT Bank – 25.7 million
• UBA – 25 million
• Zenith Bank – 18.7 million
• Capitec – 18 million
• National Bank of Egypt – 17.8 million
• Equity Bank – 16.9 million

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