Stanbic Bank, a member of the Standard Bank group of South Africa recorded the best results on both net interest income and other income level as well as being the largest lender in Zambia.
The bank recorded full year 2018 earnings of K1.34 billion, beating its nearest rival, Zanaco who came second with K1.30 billion in earnings (see table on top 10 results). Barclays, now part of the South African ABSA group was in third position while British owned bank, Stanchart was in fourth position.
Bayport is the new kid on the block
A notable new kid on the block, which is actually still a non-Bank financial institution but included due to its stellar performance is Zambian owned Bayport Financial Services completing the top 5 in terms of revenue at net interest and other revenue earnings level.
Stanbic ruled the banking industry in 2018, was also largest Lender
In terms of the main essence of banking and financial services, loans and advanced shows the impact that a financial institution had to the business community. Extending loans and advances ranks highly and this is the measure adopted to rank the balance sheet.
Stanbic took a double as it was also the largest lender in 2018
As per table below, Stanbic again was the largest lender with a total 2018 year end loans and advanced balance of K5.2 billion, in second place was Barclays, third was Zanaco, fourth was Stanchart while the new kid on the block, Bayport was fifth.
The ranking on revenue is mostly directly correlated to the balance sheet loans and advances as financial institution earning are mostly derived from their lending activities. There is also a widely held notion that clients take their deposits to banks were they are most likely to get bank facilities or loans.
Top 10 banks by income for year ended Dec 2018
Stanbic bank – K1.34 billion
Zanaco – K1.30 billion
Barclays – K1.18 billion
Stanchart – K1.06 billion
Bayport – K770 million
FNB – K714 million
Atlas Mara – K573 million
Citi bank – K339 million
Bank of China – K310 million
Eco Bank – K281 million
Top 10 Banks by Loans and Advances
Stanbic Bank – K5.20 billion
Barclays Bank – K4.20 billion
Zanaco – K4.04 billion
Stanchart – K2.78 billion
Bayport – K2.59 billion
FNB – K2.19 billion
Atlas Mara – K1.83 billion
Cavmont – K670 million
Citi bank – K627 million
Bank of China – K622 million
Note. Indo Zambia and Access bank results not included as we had not received them by press time.
