First Bank of Nigeria Limited, Guaranty Trust Bank Plc, GTB, Zenith Bank Plc and United Bank for Africa have been named among the world’s top 500 banks. This was according to a new study conducted by the United Kingdom-based "The Banker Magazine." According to the 2016 The Banker and Brand Finance Top 500 Banking Brands report, First Bank retained its number one banking brand ranking in Nigeria for the fifth consecutive year.
While First Bank moved up the scale by 16 places, rising from 336th position in 2015 to 320th this year, GTB moved to 389 in the world from 417 in 2015 with Zenith Bank dropping from 388 in 2015 to 392 in 2016. UBA returned to the ranking in 447, while Access Bank Plc dropped from the 2016 ranking. Access Bank was ranked 496 in 2015. A statement by the Country Representative of The Banker magazine in Nigeria, Mr. Kunle Ogedengbe, noted that First Bank’s brand value increased to $322m in 2016 from $300m in 2015 while that of GTB also increased to $243m from $213m.
