Banking System Z-Scores

Africa Ranking

Source: IMF

Current Rank	Country	Value	Latest Reading	Previous Rank	Previous Value

1	Morocco	44.99	2020	1	43.51
2 ↑	Tunisia	33.93	2020	32	13.34
3 ↓	Sudan	27.59	2012	2	37.35
4 ↑	Cape Verde	27.3	2020	6	24.41
5 ↓	Guinea	26.34	2020	4	26.91
6 ↓	Lesotho	24.25	2020	5	26.87
7 ↑	Mauritania	23.53	2020	12	21.98
8 ↓	Egypt	22.59	2020	7	24.16
9 ↓	Seychelles	22.58	2019	8	23.99
10 ↑	Malawi	22.41	2014	14	19.44
11 ↓	Algeria	22.13	2019	9	23.96
12 ↓	Namibia	22.1	2019	11	22.61
13 ↓	Rwanda	20.98	2020	10	23.32
14 ↑	Swaziland	20.65	2014	15	19.23
15 ↓	Libya	20.38	2019	3	35.16
16 ↓	Djibouti	19.46	2019	13	20.08
17	Burundi	18.7	2020	17	17.48
18 ↓	Kenya	18.37	2020	15	19.23
19	Ivory Coast	17	2020	19	17.15
20	Chad	16.22	2013	20	17.14
21 ↑	Madagascar	15.34	2019	22	16.09
22 ↑	Senegal	15.33	2019	29	14.09
23 ↑	Ghana	14.53	2020	24	14.9
24 ↑	Niger	14.38	2019	30	13.57
25	Tanzania	14.35	2020	25	14.89
26 ↓	South Africa	14.25	2020	21	16.69
27 ↓	Gabon	14.15	2019	23	15.1
28 ↓	Ethiopia	13.92	2020	27	14.22
29 ↓	Mali	13.65	2019	26	14.5
30 ↓	Nigeria	12.98	2020	27	14.22
31 ↑	Benin	12.29	2019	33	12.37
32 ↑	Gambia	11.8	2019	34	12.16
33 ↑	Zambia	11.49	2019	35	11
34 ↓	Uganda	11.1	2020	31	13.53
35 ↑	Burkina Faso	10.98	2020	37	9.86
36	Liberia	10.18	2019	36	9.99
37 ↓	Mauritius	9.79	2020	18	17.32
38	Togo	9.53	2019	38	8.84
39	Cameroon	9.07	2019	39	8.64
40 ↑	Botswana	6.82	2019	42	6.89
41 ↓	Zimbabwe	6.72	2020	40	7.51
42 ↑	Mozambique	5.34	2020	43	6.23
43 ↓	Democratic Republic of the Congo	5.06	2020	41	7.43
44	Sierra Leone	4.17	2017	44	2.13

Definition of Banking System Z-Scores

The index captures the probability of default of a country's banking system. Z-score compares the buffer of a country's banking system (capitalization and returns) with the volatility of those returns. It is estimated as (ROA+(equity/assets))/sd(ROA); sd(ROA) is the standard deviation of ROA. ROA, equity, and assets are country-level aggregate figures. Calculated from underlying bank-by-bank unconsolidated data from Bankscope.