Three of Ethiopia's banks have been listed among Africa's top ranking 100 banks this year, according to this month's African Business, a London-based business magazine on Africa.
The leading pan-African business magazine included the Commercial Bank of Ethiopia (CBE), Dashen Bank and Nib International Bank (NIB) in its latest Africa's top 100 banks rankings. NIB is the new entrant to the annually declared list.
Dashen Bank, which entered the Africa's top 100 banks list just last year, has already improved its position up by three places to make it at the 97th position in the latest rankings, in contrast to CBE, a long-time member of the top 100 group, which went two steps down the list while retaining its leading position among banks in east Africa.
Five South African top banks retained the top five positions in the 2006 rankings, where the country's Standard Bank tops, and Nib International Bank ends the year's Africa's top 100 banks list.
The African Business rankings were based on shareholders funds and other relevant yardsticks.