UNITED Bank for Africa (UBA) has climbed five places to rank 15th among Africa’s top 100 banks in 2026, as Nigerian lenders recorded a significant increase in their combined Tier 1 capital following recapitalisation efforts and improvements in their balance sheets.
News Point Nigeria reports that, according to The African Banker magazine, the combined Tier 1 capital of Nigerian banks featured in the ranking rose to $15.2 billion in 2026, from $10.3 billion in 2025, reflecting a stronger capital position despite continued competition from South African and North African lenders.
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UBA recorded one of the most notable improvements, with its Tier 1 capital increasing from $1.7 billion to $2.7 billion, lifting it five places to 15th position.
However, other Nigerian banks experienced mixed fortunes. Access Bank dropped from 14th to 17th, despite increasing its capital from $2 billion to $2.6 billion, while Zenith Bank fell four places to 20th, even after adding $600 million to its capital base.
Guaranty Trust Bank (GTBank) also strengthened its position, advancing five places from 30th to 25th, as its capital rose from $1.1 billion to $1.77 billion.
Stanbic IBTC recorded the biggest improvement among returning banks in the ranking, jumping 35 places from 80th to 45th, following an increase in capital from $290 million to $735 million.
The magazine attributed the improved showing of Nigerian lenders partly to recapitalisation reforms introduced by the Central Bank of Nigeria (CBN), which required commercial banks with international licences to maintain a minimum capital base of ₦500 billion, compared with ₦200 billion for national banks and ₦50 billion for regional banks.
The reforms triggered fundraising through rights issues, public offers and other capital-raising exercises, strengthening banks’ capacity to absorb risks, expand lending and pursue opportunities across Africa.
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The ranking also highlights the growing international ambitions of Nigerian banks. In May 2025, Access Bank completed its acquisition of National Bank of Kenya from KCB Group, reinforcing its presence in East Africa.
At the top of the ranking, South Africa’s Standard Bank retained first position, increasing its Tier 1 capital from $13.2 billion to $15.7 billion. Its assets reached $217.7 billion, while net profit stood at $3.4 billion, the highest among the commercial banks featured.
Egyptian banks also recorded substantial gains, with their combined capital rising to $31 billion from $22.6 billion. Commercial International Bank climbed from 17th to 12th, increasing its capital from $1.91 billion to $3.13 billion.
Morocco maintained a strong presence in the top 10, with Attijariwafa Bank ranking third, Banque Centrale Populaire sixth and Bank of Africa-BMCE ninth.
Regionally, West and Central African banks recorded the strongest percentage increase in combined capital, which rose 32 per cent to $19.6 billion.
The magazine noted that currency movements and differences in financial reporting periods influenced the rankings, meaning changes in position do not necessarily reflect equivalent changes in underlying business performance.
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It added that the challenge for Africa’s largest banks was to deploy their stronger balance sheets to finance infrastructure, support small businesses, deepen financial inclusion and expand cross-border trade.
The African Development Bank has estimated Africa’s unmet trade finance demand at between $74 billion and $92 billion, underscoring the opportunities available to lenders with sufficient capital to support businesses across the continent.
