International Banks run globally in 2025, with African ownership at the helm

In the ever-evolving landscape of African finance, a number of banks have made significant strides in recent years, expanding their operations across the continent and beyond. Here's a look at some of the prominent African banks that have ventured into international waters, their services, and the state of the African banking market.

The National Bank of Egypt, founded in 1898 by Rafael Suares and Constantine Salvagos, is one of the oldest banks in Africa. Today, it operates in various African countries. Similarly, Absa Group Limited, established in 1991, offers a diverse range of financial services, including personal and business banking, credit cards, corporate and investment banking, wealth and investment management, and bancassurance. Absa has made significant inroads in sub-Saharan Africa, extending its reach beyond South Africa, its home region.

Standard Bank Group, founded in 1862 by John Paterson, is another South African bank that has expanded its footprint across Africa. Known for its focus on sustainability and green finance initiatives, Standard Bank operates in over 20 African countries, with offices in key global financial centres.

Guaranty Trust Bank (GTBank) from Nigeria is another prominent African-owned bank operating internationally. Founded in 1990, GTBank has branches and representative offices in various countries, including the UK and UAE. United Bank for Africa (UBA), also from Nigeria, was founded in 1949 by Tony Elumelu. UBA is a leading pan-African financial services group, serving over 21 million customers across 23 countries.

Banque Centrale Populaire-Morocco, founded by Groupement des Banques Populaires in 1926, and Attijariwafa Bank, a result of a merger of Banque Commerciale du Maroc and Wafabank in 2003, are Moroccan banks with operations in over 20 African countries, with a presence in Europe and Asia.

The banking market in Africa is expected to have a Net Interest Income of US$205.53bn in 2025, with a steady growth rate, exhibiting a compound annual growth rate (CAGR) of 4.40% between 2025 and 2029. By 2029, the Net Interest Income market volume is expected to reach US$244.20bn.

South Africa dominates the African banking industry, with the Bank of Africa-Morocco, Attijariwafa Bank, and Nedbank Group, founded in 1888 by Nederlandsche Bank en Credietvereeniging, being some of the key players. FirstRand Limited, founded in 1998 after a merger of Rand Merchant Bank, First National Bank, and Momentum Insurance & Asset Management, also operates in several African countries, with subsidiaries in the UK and India.

As of 2023, there are 852 registered commercial banks in Africa. The banking sector concentration varies across regions, with West Africa having 44% concentration, and Central Africa having 69%.

In conclusion, the African banking sector is witnessing a period of growth and expansion, with several banks venturing into international markets. The market is primarily dominated by traditional banks, but the focus on sustainability and digital transformation is expected to shape the future of African banking.