TheNewsGuru

Tag: Ranking

  • Zenith Bank retains position as Nigeria’s number one bank by Tier-1 capital for 15 consecutive yrs in 2024 top 1000 world banks’ ranking

    Zenith Bank retains position as Nigeria’s number one bank by Tier-1 capital for 15 consecutive yrs in 2024 top 1000 world banks’ ranking

    For the fifteenth consecutive year, Zenith Bank Plc has retained its position as the Number One Bank in Nigeria by Tier-1 Capital in the 2024 Top 1000 World Banks’ Rankings, published by The Banker Magazine.

    This ranking places Zenith Bank Plc as the 565th Bank globally with a Tier-1 Capital of $2.01 billion.

    The rankings, published in the July 2024 edition of The Banker Magazine of the Financial Times Group, United Kingdom, recognise Zenith Bank’s continued financial strength and stability.

    They are based on the 2023 year-end Tier-1 capital of banks globally and remain the primary source for global bank financials used by most international organisations in their assessments of banks.
    Tier-1 Capital describes capital adequacy, the core measure of a bank’s financial strength from a regulator’s perspective.

    According to the ranking, Tier-1 Capital, as defined by the latest Bank for International Settlements (BIS) guidelines, includes loss-absorbing capital, i.e., common stock, disclosed reserves, retained earnings, and minority interests in the equity of subsidiaries that are less than wholly owned. A strong Tier-1 capital ratio boosts investor and depositor confidence, indicating the Bank is well-capitalised and financially stable.

    Commenting on this achievement, the Group Managing Director/CEO of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, said, “We are deeply honoured to be recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year.

    This recognition is a testament to our strategic focus on sustainable growth, innovation, and customer satisfaction. It also emphasises our resilience and strength in navigating the ever-evolving financial landscape.

    Our dedicated team of professionals has remained steadfast in ensuring that we maintain our position at the forefront of the banking industry.” She extended her profound and sincere appreciation to the Founder and Chairman, Dr. Jim Ovia, CFR, whose visionary and transformative leadership has played a pivotal role in cultivating a resilient and thriving establishment. She also expressed her deep appreciation for the board’s insightful governance, the staff’s relentless dedication, and the unwavering loyalty of the bank’s esteemed customers to the Zenith brand.

    Zenith Bank’s financial performance for the year was driven by a remarkable triple-digit growth of 125% in gross earnings, from N945.6 billion reported in 2022 to N2.132 trillion in 2023.

    This growth led to an improved market share in both the retail and corporate segments despite a persistently challenging macroeconomic environment.

    The increase in gross earnings was primarily due to growth in interest and non-interest income. Interest income growth was attributed to the increase in the size of risk assets and their effective repricing, while non-interest income was driven by significant trading gains and gains from the revaluation of foreign currencies.

    Zenith Bank recently commenced recapitalisation efforts with the conclusion of its Capital Markets Day held on 11th July 2024. It aims to raise the least amount of capital amongst its peers at N230 billion, considering it already maintains a robust capital base of N270.7 billion.

    The Bank remains dedicated to supporting the growth of the Nigerian economy and providing its numerous customers with innovative and efficient banking solutions.

    Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, with these latest accolades coming on the heels of several recognitions.

    These include being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fourteenth consecutive year in the 2023 Top 1000 World Banks Ranking, published by The Banker Magazine.

    The Bank was also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020 and 2022; and Most Sustainable Bank, Nigeria in the International Banker 2024 Banking Awards.
    Further recognitions include Best Bank in Nigeria for three consecutive years from 2020 to 2022 in the Global Finance World’s Best Banks Awards and Best Commercial Bank, Nigeria for three consecutive years from 2021 to 2023 in the World Finance Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for 2022 and 2023, and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.
    The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, and Retail Bank of the Year for three consecutive years from 2020 to 2022 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. The Bank also received the accolades of Most Sustainable Bank, Nigeria, in the International Banker 2023 Banking Awards, Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards. Zenith Bank was named Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.

  • Super Eagles now world’s 42nd team in FIFA ranking

    Super Eagles now world’s 42nd team in FIFA ranking

    The Super Eagles of Nigeria have dropped by two spots in the latest FIFA ranking to place 42nd in the world.

    In the ranking table on the website of the world football governing body, on Thursday, the Eagles dropped 16.04 points to rank 1474.44 points as against 1490.48 in October.

    However, the drop did not affect the team’s placement on the continent as it still remained the 6th team on the continent behind Morocco, Senegal, Tunisia, Algeria and Egypt respectively.

    The drop in ranking came after the Super Eagles were held to a 1-1 draw in their two 2026 FIFA World Cup Qualifying matches against Lesotho on Nov. 16 and Zimbabwe on Nov. 19.

    Although Argentina (1st) still lead the way ahead of France (2nd), England (3rd, up 1) are now in the trio of teams at the front of the pack, followed by Belgium (4th, up 1), who have also climbed one place.

    Although Brazil (5th, down 2) have lost ground following back-to-back defeats by Colombia and Argentina, they have clung on to their place in the top 5.

    The Netherlands (6th, up 1) and Portugal (7th, down 1) have traded places in the top 10, which is once again completed by Spain (8th), Italy (9th) and Croatia (10th).

    Uruguay (11th, up 4) have made solid progress, but they have to be content with a place just outside the top 10.

    The Comoros Islands (119th, up 9), meanwhile, enjoyed an even better month with wins against the Central African Republic and Ghana, and have two reasons to celebrate as they are now in 119th place, their highest-ever position.

    Kosovo (101st, up 4) may not have climbed as many positions as the Comorans, but the Kosovans are also now higher in the ranking than ever before.

    Guinea-Bissau (103rd, up 7), Azerbaijan (114th, up 6), Libya (120th, up 6), Malaysia (130th, up 7) and Rwanda (133rd, up 7) are the other big movers in the November ranking.

    The ranking also had the re-entry of Samoa (187th), American Samoa (188th) and Tonga (196th), who were all playing international football again following months of inactivity.

    The ranking took into consideration FIFA World Cup qualifiers that took place in African countries as well as in Asia and South America.

    The other confederations’ schedules considered included UEFA EURO 2024 qualifying matches, Concacaf Nations League 2023-24 encounters and the Pacific Games 2023.

    These matches all had a significant effect on the FIFA/Coca-Cola World Ranking, including on the make-up of the podium.

  • OPEC: Nigeria drops in ranking, now 7th oil producing nation

    OPEC: Nigeria drops in ranking, now 7th oil producing nation

    Organization of the Petroleum Exporting Countries (OPEC) has ranked Nigeria 7th in crude oil production for the month of November.

    The ranking was arrived at after the country’s production output and monthly review for  October.

    Nigeria’s output was put at a mere 1.014 million barrels per day in October thereby making it drop to 7th behind other producing countries like Saudi Arabia, United Arab Emirates, Kuwait, Iraq, Angola and Algeria.

    According to OPEC, these was what the output looked like in October;Nigeria 1. 014mb/d in October, Angola produced 1. 051mb/d;  Algeria, 1.060mb/d; Kuwait 2.811mb/d; UAE, 3.188mb/d;  Iraq, 4.651mb/d; and Saudi Arabia, 10. 957mb/d.

    While Venezuela’s production was 711b/d, Equatorial Guinea’s was 57b/d. The likes of Gabon, Libya and Iran did not produce a barrel in the month.

    Nigeria used to rank fifth, with countries such as Angola and Algeria behind it in terms of crude oil production.

    West Africa’s largest economy has been through a rough path as its crude oil production is bedevilled by theft and pipeline vandalism.

    It was gathered that the country lost N415bn to the shutdown of nine crude oil terminals within the space of two months.

    The affected terminals, Forcados, Qua Ibo, Bonny, Bonga, Voho, Erha, Brass, Ukpokiti and Aje were shut down between May and June 2022.

    Crude oil losses recorded as a result of the shut-in include 258,000 from Forcados  between June 24 and 30; 1,470mb from Qua Iboe from June 15-30;  3, 545mb from Bonny from June 1-30; and 558,000b from Bonga between June 15 and 30.

    Expert have said that the country needs to identify the problems and apply drastic measures to address them on time.

     

  • U.S lose FIBA rankings’ top spot after 12 years

    U.S lose FIBA rankings’ top spot after 12 years

    U.S men’s basketball team have been knocked off the top of the International Basketball Federation (FIBA) world rankings for the first time in over 12 years, with Spain taking over.

    Spain, who have enjoyed success in recent years including winning the FIBA Basketball World Cup 2019 and FIBA EuroBasket 2022, lead the November 2022 table ahead of the U.S.

    “It’s not exactly a new title and it probably can’t be maintained for too long, but it’s something so unique, prestigious, and historic that I feel tremendously proud of everyone who … has contributed to it,” Spain coach Sergio Scariolo tweeted.

    Spain top the rankings with 758.6 points followed by the U.S. with 757.5 points. Australia are third on 740.3 points.

    The U.S. team had led the rankings since 2010.

    Nigeria’s D’Tigers remain 19th on the world rankings with 460.1 points, and number one among African teams.

  • Cristiano Ronaldo suffers worst Ballon d’Or ranking

    Cristiano Ronaldo suffers worst Ballon d’Or ranking

    Manchester United star Cristiano Ronaldo has suffered his worst ever Ballon d’Or ranking.

    Ronaldo is a five-time winner of the prestigious individual award, first winning it in 2008 with United.

    Last year saw the star forward finish sixth, which at the time was his lowest position ever.

    But the Portugal captain has plummeted to new depths after a questionable start to the season and finished 20th.

    Real Madrid striker Karim Benzema was crowned the winner on Monday night.

  • Super Eagles maintain position in latest FIFA ranking

    Super Eagles maintain position in latest FIFA ranking

    The Super Eagles of Nigeria has maintained 31st position in the world in the August FIFA ranking.

    According to the ranking table published on FIFA’s verified page on Thursday, the Jose Peseiro-tutored players maintained the 1,504.7 garnered points in July.

    On the continental level, they are still placed fourth behind Senegal (18), Morocco (23), and Tunisia (30).

    On the global scene, with five major tournaments in different parts of the world, international women‘s football has hogged the headlines in recent months.

    Fifty-eight international fixtures were played in the men‘s game, mostly in Africa and Asia, hence changes in the August edition of the FIFA World Ranking are few and far between.

    Two countries, Mauritania (107th, plus 3) and Botswana (146th, plus 3) have been posting good results, as reflected by a climb of three places each in the standings.

    That progress makes them jointly the two most-improved sides in terms of places.

    In the top 50, almost nothing has changed from the previous edition, Brazil (1st, ), Belgium (2nd, ) and Argentina (3rd, ) still occupy the podium places, while their immediate followers remain in the same order they were in June.

    Only Iran (22nd, plus 1) and FIFA World Cup hosts Qatar (48th, plus 1) move up one place apiece.

    Outside the Top 100 in addition to the aforementioned African duo, Mozambique (116th, plus 2) and Angola (120th, plus 2) also made up ground among CAF sides, as did Bermuda (168th, plus 2) in Concacaf.

    With a raft of international games to come in September in particular, there is expected to be more movement in the next edition.

  • Alpha Morgan Capital ranks among fastest-growing companies in Africa

    Alpha Morgan Capital ranks among fastest-growing companies in Africa

    Alpha Morgan Capital, an asset management company headquartered in Nigeria has been ranked among the fastest-growing companies in Africa by Financial Times (FT).

    TheNewsGuru.com (TNG) reports Alpha Morgan Capital was ranked 4th out of 10 companies in the Financial Service sector, 8th in the General list of all sectors across Nigeria and 23rd in the overall list of 75 Africa’s Fastest-Growing Companies.

    This was announced in the inaugural publication of the FT – Africa’s Fastest Growing Companies 2022 ranking, released on May 3, 2022.

    In collaboration with Statista, the FT ranked companies that had the strongest revenue growth in Africa between 2017 and 2020.

    Commenting on the inclusion of the firm in the list, the Group Managing Director of Alpha Morgan Group, Mr Ade Buraimo, stated, “It’s an honour to be ranked on the inaugural FT Africa’s Fastest-Growing Companies list.”

    Buraimo disclosed that, despite the global economic challenges they are glad to be ranked among the top companies across Africa in many categories, “this is as a result of our demonstration of steady revenue growth and staff expansion.

    “Our growth mandate has garnered attention throughout the world, and we are overjoyed by this recognition and achievement. We will continue to improve on what we do best, which is to sustainably manage and grow our clients’ wealth.

    “We want to use this opportunity to appreciate our clients who have trusted us over the past 10 years, as well as our faithful staff, without whom this would not have been possible”, He added.

    TNG recalls that in August 2021, Alpha Morgan Capital was rated BBB-(1M) with a stable outlook by Agusto & Co. Rating Service and has since maintained its growth in the financial sector.

    The inaugural FT annual ranking of Africa’s Fastest Growing Companies provides a snapshot of the corporate landscape in a continent where technology, fintech and support-service businesses have had to adapt to a radically altered environment.

    South Africa has the highest companies’ representation with 24, followed by Nigeria 20, Kenya is the third most represented country with 9 while Egypt had 6.

    These are also the markets that have attracted the most venture capital and where unicorns (companies valued at $1bn+) and would-be unicorns like Alpha Morgan have proliferated.

  • Why Nigeria slipped to 14th on ranking of top investment destinations in Africa – Minister

    Why Nigeria slipped to 14th on ranking of top investment destinations in Africa – Minister

    The Minister of Industry, Trade, and Investment, Mr. Niyi Adebayo, on Thursday, said Nigeria’s slip in a ranking of top investment destinations in Africa was due to insecurity.

    President Muhammadu Buhari, while speaking at the Expo 2020 Dubai trade and investment forum in UAE, had boasted that Nigeria was Africa’s most attractive investment destination.

    But a report by Rand Merchant Bank (RMB) titled ‘Where to Invest in Africa 2021’ placed Nigeria in the 14th position on investment attractive nations in Africa. In 2014, Nigeria was second.

    “The reasons for that are various, the major one being the security problems that we have in the country,” Mr. Adebayo said on Thursday while briefing reporters at the State House in Abuja.

    “And as you are all aware, the Federal Government is making every effort to resolve the security problems, so that we will go back to the position of being the preferred destination.

    “Our position is getting better because there seems to be a big interest now in investing in Nigeria.”

  • See latest ranking of Nigerian passport in the world

    The latest report regarding the world’s most powerful International Passport places the Nigerian passport at 95.

    According to the list put together by Henley Passport Index which occasionally curates a list of the world’s most travel-friendly passports, Nigeria is just above countries like Djibouti, South Sudan, and other war-torn countries in the middle-east.

    In the recently published report, the Japanese passport is the most powerful in the world, as it avails those who possess it visa-free or visa-on-arrival access to about 191 destinations around the world.

    The list also shows another Asian country – Singapore sitting in second place, with other European countries trailing right behind.

    Though the largest nation in Africa and often called the giant of the continent, Nigerians still do not have it easy while travelling internationally.

    Those who possess a Nigerian passport often experience difficulties going through a plethora of checks, many have often described as dehumanizing the way they were treated at the airports of other nations.

    READ ALSO: Top Ten Most Powerful Passports To Hold In 2020

    Every year millions of Nigerians leave the country’s shores some for pleasure visits, others for medical tourism and a lot more in search of greener pastures.

    However, these trips are not all palatable as the Nigerian passport only avails visa-free or visa-on-arrival access to only 41 countries, with many having to struggle and pay through their noses to visit the highly developed nation.

  • Quadri ends 2017 at 21 in latest ITTF ranking

    Aruna Quadri has set a new personal record for Nigeria and himself as he is now ranked 21 in the end-of-the-year ranking released by the International Table Tennis Federation (ITTF).

    The ranking was released on Thursday by the world table tennis ruling body.

    The Nigeria Table Tennis Federation (NTTF), in a statement on Friday, said Quadri has now surpassed his best of 25th in the ranking.

    “This has helped him to displace Egypt’s Omar Assar as the continent’s best-ranked player in the world.

    “In spite of not matching the record set by Assar as the first African ranked among the top 20 in the world, Quadri ends the year as the highest-ranked African in the latest rating,’’ the Nigerian sport ruling body said.

    Following victories over top-ranked players at the Swedish Open, Quadri amassed 50 points to improve from 2457 to 2507 points to be rated 21 in the world ranking.

    Prior to this latest ranking, the best achieved by Quadri in the world rating was 25 and with this, he has set a new record for Nigeria and himself.

    Assar’s failure to be more active seems to have affected his rating, as the Egyptian dropped from 20 to 26 in the latest ranking.

    “The feat is commendable as Quadri continues to put Nigeria and Africa on the world map with his scintillating performance at global stage.

    “We are excited about this latest ranking and this goes to show that our efforts are paying off and what we just need to do is to ensure we unearth and nurture more players like Quadri.

    “Also, the young players should take a cue from Quadri in terms of his diligence, professionalism and dedication to the trade.

    “I hope and believe they can follow his footsteps in their career to make it to the top,” the President of Nigeria Table Tennis Federation (NTTF), Ishaku Tikon, said.

    In the women’s ranking, Egypt’s Dina Meshref dropped to 110 from 92.

    But she still remains Africa’s best-ranked female player in the world, while Funke Oshonaike’s lack of playing time at global level continues to have a negative effect.

    She dropped from 227 to 262 in the latest ranking.