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