The January edition of The Banker magazine has published the list top ranked banks in Africa under many categories. The Top 10 African banks by Profit in the full year of 2011 are shown in the table below:

Click to enlarge

Source: The Banker

South African banks dominate the list taking 6 of the 10 spots. Standard Bank Group (SGBLY) made the most profits. It is worth noting that the five biggest banks in the continent are also from South Africa. However banks from other countries are trying to catch up. Egyptian banks with the second biggest banking market in Africa hold only less than 1/3rd of the total assets held by South African banks.

Three of the above five South African trading on the US OTC markets are listed below with their current dividend yields:

1.Company: Absa Group Limited (AGRPY)
Current Dividend Yield: 4.74%

2.Company: Nedbank Group Ltd. (NDBKY)
Current Dividend Yield: 3.87%

3.Company: Standard Bank Group Limited (SGBLY)
Current Dividend Yield: 9.19%

Note: Dividend yields noted are as of Feb 8, 2013

Disclosure: Long NDBKY