Top 10 African-Owned Banks Operating Internationally in 2025

In Summary

• There are currently 852 licensed commercial banks in Africa.
• The Banking market in Africa is expected to witness a substantial increase in its Net Interest Income, with a projected value of US$205.53bn in 2025.
• The market is primarily dominated by traditional banks, which are forecasted to achieve a market volume of US$201.34 billion in the same year.
• Looking ahead, the Net Interest Income is anticipated to exhibit a steady growth rate, with a compound annual growth rate (CAGR) of 4.40% between 2025 and 2029, resulting in a market volume of US$244.20bn by 2029.

Deep Dive!!

As it is around the world, the banking market in Africa is a highly competitive and dynamic industry constantly evolving to meet the changing needs of consumers and businesses.

Before the emergence of commercial and microfinance banks across Africa, traditional banks had a long history on the continent and were well-established players. However, the emergence of commercial banks offered a wider range of financial products and services, including savings accounts, checking accounts, loans, mortgages, and debit and credit cards.

In recent times, expanding its operations outside the shores of their indigenous countries into other nations within Africa, and even internationally into Europe, America and Asia has become a goal for banks in Africa. However, one of the biggest challenges facing the retail and commercial banking industry is regulatory compliance. Banks must comply with a myriad of regulations, including anti-money laundering (AML) and know-your-customer (KYC) regulations, which can be costly, time-consuming, and serve as hurdles in penetrating international markets.

The banking sector in Africa has been geometric, in 2023, Africa had 757 banks, with banking sector concentration (share of assets held by the three largest banks) ranging from 44% in West Africa to 69% in Central Africa. South Africa dominates the African banking industry, with major banks like Standard Bank Group and FirstRand holding a significant portion of assets and deposits. Today, it boasts 852 registered commercial banks in the 54 countries of Africa—a testament to a striving industry.  

Today, several African-owned banks have expanded their operations beyond their home countries, establishing significant international presence. Below, we have highlighted ten African banks that have expanded their service deliveries to international customers.

Here are 10 prominent African-owned banks operating internationally. Check them out!

10. Guaranty Trust Bank (GTBank)—Nigeria: GT Bank was founded in 1990 by Tayo Aderinokun and Fola Adeola. Since its establishment, GTBank has become one of Nigeria's leading financial institutions, renowned for its innovative banking products and services. The bank's international expansion reflects its commitment to providing excellent customer service and enhancing financial inclusion across Africa and beyond. The bank operates in several African countries, including Ghana, Sierra Leone, Gambia, Liberia, and the United Kingdom.

9. United Bank for Africa (UBA)—Nigeria: Tony Elumelu funded UBA in 1949. The bank is a leading pan-African financial services group, offering banking services to more than 21 million customers across 23 countries. Its international presence underscores its commitment to facilitating trade and capital flows between Africa and the rest of the world. Today, the bank has operations in 20 African countries, with offices in the USA, UK, and France.

8. Bank of Africa—Morocco: The Bank of Africa was founded by Othman Benjelloun in 1982. The International Bank provides a variety of services, including retail banking, corporate banking, and investment services. Its pan-African strategy and focus on innovation have contributed to its prominence in the banking sector. As of today, it has operations in over 20 African countries, with a presence in Europe and Asia.

7. FirstRand Limited—South Africa: Founded in 1998, FirstRand Limited was created after a merger of Rand Merchant Bank, First National Bank, and Momentum Insurance & Asset Management. The Bank is one of South Africa's largest financial services groups, offering a universal set of transactional, lending, investment, and insurance products and services. They have operations in several African countries, with subsidiaries in the UK and India.

6. Nedbank Group—South Africa: Nedbank Group was founded in 1888 by Nederlandsche Bank en Credietvereeniging, the Bank offers a wide range of wholesale and retail banking services, as well as insurance, asset management, and wealth management. Its focus on sustainability and green finance initiatives has distinguished it in the market. It has operations in several African countries, with offices in key global financial centres.

5. Banque Centrale Populaire—Morocco: The Bank was founded by Groupement des Banques Populaires in 1926, and has several subsidiaries and representative offices in several African and European countries. Banque Centrale Populaire is a major player in Morocco's banking sector, known for its cooperative banking model and extensive network. It has expanded its operations internationally, particularly in Africa and Europe.

4. Attijariwafa Bank—Morocco: Founded after a merger of Banque Commerciale du Maroc and Wafabank in 2003, the Bank has operations in 26 countries, including subsidiaries in Europe and Africa. Attijariwafa Bank is one of Morocco's leading banks, offering a wide range of banking and financial services. Its international expansion strategy has positioned it as a significant player in the African banking sector.

3. Absa Group Limited—South Africa: it was founded by the originally Amalgamated Banks of South Africa in 1991, the Bank has operations in 12 African countries, with offices in the UK and the US. Absa Group Limited offers a range of financial services, including personal and business banking, credit cards, corporate and investment banking, wealth and investment management, and bancassurance.

2. National Bank of Egypt—Egypt: Founded by Rafael Suares and Constantine Salvagos in 1898, the bank has branches and representative offices in various countries, including the UK and UAE. As Egypt's oldest and largest bank, the National Bank of Egypt has played a pivotal role in the country's economic development and has extended its services internationally to cater to the Egyptian diaspora and global clients.

1. Standard Bank Group—South Africa: Founded by John Paterson in 1862, the Bank operates in 20 African countries, with additional offices in key global financial centres. Standard Bank Group is Africa's largest bank by assets, boasting an extensive network across the continent and strong global partnerships. Its diversified portfolio includes retail banking, corporate investment, wealth management, and insurance services.