GDP of African countries and their largest banks... Some banks are punching above...

Dear Africa Interested Individuals: 
                                                         I just looked at the 2014 GDP of the major economies of Africa (excluding Algeria) and other select economies and the financial performance of the largest banks by assets in these countries for fiscal year 2014.  I selected sixteen (16) African countries and their respective largest banks.  I intend to compare the percentage weighting of each country's GDP against other selected African economies against the percentage weighting of 2014 net income (in dollars) of the largest bank in each country.  Which banks' financial performance percentage weighting among the largest bank in the sixteen countries will exceed that of the GDP in the country it is domiciled in relative to the GDP of other selected African countries for 2014?  Let us get to it.  The countries selected are:
                                              GDP % weighting                              Net Income % weighting 

1. Nigeria                                  32.14%                                                      13.65%         
                      
2. South Africa                         19.61%                                                      38.93%

3. Egypt                                    16.05%                                                      13.19%

4. Angola                                   7.20%                                                          2.94%

5. Morocco                                6.12%                                                         11.65%

6. Kenya                                    3.40%                                                          4.71% 

7. Ethiopia                                2.93%                                                           0.47%

8. Cote D' Ivoire                       1.90%                                                           1.16%

9. Botswana                              0.88%                                                            2.06%  

10. Namibia                             0.75%                                                             1.83%

11. Tanzania                            2.69%                                                             1.39%

12. Tunisia                               2.72%                                                             0.58%

13. Ghana                                2.17%                                                             2.52%

14. Malawi                               0.24%                                                             0.78%                      

15. Rwanda                              0.45%                                                            0.67%

16. Mauritius                           0.74%                                                             3.47%

Exchange rates used were the official rates as at the fiscal year end of each bank.  GDP figures were obtained from IMF.  The I divided the bank weighting by the GDP weighting.  Nine banks out of sixteen achieved multiples in excess of one.  Their net income weighting among the sixteen largest banks was better than the country GDP weighting.  I deem these banks to be pulling above their weight and rising above country specific dynamics to deliver for shareholders.  The top five banks with the highest multiples and the others are:

1. MCB Group Mauritius
2. National Bank of Malawi (This bank continues to shine no matter what I throw at it)
3. FNB Namibia
4. FNB Botswana
5. Standard Bank Group South Africa 
6. Attijariwafa Bank Morocco
7. Bank of Kigali Rwanda
8. Kenya Commercial Bank
9. Ecobank Ghana

The below banks achieved net income weightings below the weighting of their base country GDP's
10. National Bank of Egypt
11. Societe Generale Cote D' Ivoire
12. CRDB Group Tanzania
13. Zenith Bank Nigeria
14. Banco Angolano dos Investmentos Angola
15. BIAT Tunisia
16. Commercial Bank of Ethiopia
       
In summary, the first nine banks are achieving beyond the potential of their base countries.  Three of the nine are owned by banks based in Africa's most advanced economy which is clearly making a statement here.  Banks in oil rich countries (Nigeria & Angola) pulled below their weight. 

       Tell others to tell others about this Africa Research Blog; a new dawn is here. 

 

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