Largest African Banks by country: Do their prices follow in tandem?

Dear Africa Interested Individuals:
                                                        I took a look at the largest bank by assets in 15 African countries from the north to the south.  I wanted to find out if the largest banks by assets wear the same crown on an absolute (nothing pertaining to valuation) price basis on their respective stock exchanges.  Prices referenced are either August 6th or 7th, 2015.  Prices will be referenced in dollars.   PER means price-to-earnings ratio.  Conversion rates are as at August 7th, 2015.     

  1. South Africa: The largest bank in South Africa is the Standard Bank Group.  Its share price is $12.41 with a PER of 13.9X.  This is not the costliest bank stock price on the JSE.  Barclays Africa is more than 5X costlier at $63.15.  
  2. Nigeria: The largest bank in Nigeria is Zenith Bank (it is not First Bank when compared bank to bank without the non-banking companies.)  Its share price is $0.09 with a PER of 5.4X.  This is not the costliest bank stock price on the NGSE.  GT Bank cost $0.12 and has a PER of 7.1X.  ETI also cost more than Zenith Bank.
  3. Botswana: The largest bank in Botswana is First National Bank.  Its share price is $0.38 with a PER of 13.8X.  SCB Botswana has the costliest share price at $1.25.  Barclays Botswana is also more expensive than FNB, the largest bank in Botswana.  
  4. Kenya:  The largest bank in Kenya is Kenya Commercial Bank Group.  Its share price is $0.49 with a PER of 8.8X.  SCB Kenya has the costliest share price at $2.80 with a PER of 8.5X.  
  5. Mauritius:  The largest bank in Mauritius is MCB Group.  Its share price is $3.51 with a PER of 12.2X.  It also doubles as the costliest bank on the exchange.  
  6. Namibia: The largest bank in Namibia is First National Bank.  Its share price is $2.99 with a PER of 12.8X.  It also doubles as the costliest bank on the exchange.  
  7. Morocco:  The largest bank in Morocco is Attijariwafa Bank.  Its share price is $35.99 with a PER of 16.6X.  This is the 3rd costliest bank on the Cassablanca exchange.  BMCI trades at $64.11 and is the costliest.  CDM is the second costliest.  
  8. Rwanda:  The largest bank in Rwanda is the Bank of Kigali.  Its share price is $0.39 with a PER of 10.2X.  This is not the costliest bank share price on the exchange.  Equity Bank Rwanda is 54% more expensive at $0.60.  
  9. Ghana:  The largest bank in Ghana is Ecobank.  Its share price is $2.10 with a PER of 7.5X.  SCB Ghana (the oldest bank in Ghana) is the costliest bank as it trades at $4.85 with a PER of 10.6X.  
  10. Egypt:  The largest bank in Egypt is the National Bank of Egypt.  Its share price is $10.46 with a PER of 234X.  It also doubles as the costliest bank on the Egyptian Exchange.  
  11. Zambia:  The largest bank in Zambia is Zambia National Commercial Bank (ZANACO.)  Its share price is $0.17 with a PER of 82.5X.  Investrust Bank has the costliest share price at $0.30.  SCB Zambia is also more costly than ZANACO and trades at 13.4X its earnings.  
  12. Tanzania:  The largest bank in Tanzania is CRDB (after the downfall of FBME.)  Its share price is $0.19 with a PER of 9.1X.  DCB Commercial Bank is more costly than CRDB and has a PER of 11.4X earnings.  
  13. Zimbabwe:  The largest bank in Zimbabwe is CBZ Holdings.  Its share price is $0.098 with a PER of 1.75X.  It also doubles as the costliest bank on the Exchange.  
  14. Malawi:  The largest bank in Malawi is the National Bank of Malawi.  Its share price is $0.48 with a PER of 8.1X.  Standard Bank Malawi is more costly at a price of $0.84 and trades at 8.3X earnings.  
  15. Uganda:  The largest bank in Uganda is Stanbic Bank Uganda.  Its share price is $0.01 with a PER of 12.5X.  Bank of Baroda is more costly at a price of $0.04 with a PER of 8.8X. Bank of Baroda also has a higher ranking (4th) than Stanbic Uganda (25th) in the ranking of African banks according to Human Capital.  Details can also be found on this blog.
The quick takeaways are only four banks in four countries are the largest and also the costliest:  Mauritius, Namibia, Egypt & Zimbabwe.  

The largest bank with the lowest PER can be found in Zimbabwe.  

The largest bank with the cheapest price can be found in Uganda.  

The largest bank with the costliest price can be found in Morocco.  

The largest bank with the highest PER can be found in Egypt.  

Only six largest banks out of fifteen trade at prices in excess of one US dollar: Egypt, Morocco, South Africa, Ghana, Namibia & Mauritius.  

Six largest banks are trading at single-digit PERs; the countries are: Nigeria, Malawi, Zimbabwe, Tanzania, Ghana & Kenya.  

Ecobank Ghana is more valuable to investors in Ghana than is ETI.  Definitely something to ponder on. ETI has a market value 3.4X larger than Ecobank Ghana while the price of Ecobank Ghana is 27X larger than that of ETI as at August 6th, 2015.   

Biggest bank clearly does not mean biggest price.  

That is all for quick takeaways.  I have to run...

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

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