Across Africa, banks are expanding, but unfortunately their returns are not. Many banks are promising high returns as they expand across Africa. The main attraction of the continent’s banking market is that it is vast and virtually untapped. Banking penetration among Africa’s billion inhabitants varies significantly from nation to nation, but many people in countries like Senegal and Tanzania have virtually little access to banks.
These banks are expanding their network and are willing to take risks. Here is a brief overview of the top 10 richest banks in Africa by assets as of 2014.
10) Credit Populaire du Maroc – $27.662 Billion (Morocco)
Credit Populaire du Maroc (Groupe Banque Centrale Populaire) is a Morocco-based group of banks engaged in the provision of financial products and services. It offers products and services to individuals, professionals and businesses. It has assets of around $27.662 billion.
9) Banque Misr – $29.436 Billion (Egypt)
Egyptian bank Banque Misr was founded in 1920 and nationalized in 1960. The bank has assets of approximately $29.436 billion. It has branches in all of Egypt’s governorates.