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Five of Africa's top ten most profitable banks in 2024 are South African
Key takeaways:
  • Africa's ten most profitable banking institutions are concentrated in South Africa, Egypt, and Nigeria.
  • South African and Egyptian banks claim the first five positions among Africa's most profitable banks.
  • Nigeria's banking sector shows resilience, with three of its "FUGAZ" banks securing positions in the continental top ten.
  • The average profit after tax among Africa's top ten profitable banks reached $867 million.
  • The four most profitable banks in Africa each exceeded $1 billion in profit after tax.

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