Major moves up the Top 1000 world banks ranking require significant capital injections and this year there are some extraordinary changes: a record three banks (from Libya, Nigeria and Kazakhstan) moved up more than 500 places in the ranking – each having more than quadrupled its Tier 1 capital base.
Topping the Highest Movers listing this year is Libyan Arab Foreign Bank, Libya’s largest bank, which rose a record 528 places to reach 423 in the Top 1000 ranking. Its capital increased from $237m to $966m but this change only represents the bank’s latest published figures, dated end of 2004.
