Five Major Banks Post N680bn Bad Loans       Five of the major banks in the country, also known as Tier-1 banks have posted whopping N683bn non-performing loans in the 2020 financial year. According to the financial reports of the banks, released in April this year to the...

Despite COVID-19 Disruptions, Banks Attract N37trn Deposits         Despite the disruptive impact of the COVID-19 and the attendant lockdown, the nine months 2020 financial results of 13 commercial banks have shown that they raked in a total of N36.759 trillion as customers’ deposits. This represented an increase...

Afreximbank Names Seven Nigerian Banks As Trade Finance Intermediaries       Seven Nigerian banks have been named Trade Finance Intermediaries of the African Export-Import Bank to enable a smoother delivery of its initiatives and credit solutions in Nigeria. A statement issued by the bank on Tuesday said the...

Banks’ Income From Forex Trading Rose By 114% To N145bn         Notwithstanding the sharp depreciation of the Naira and the acute dollar shortage in the economy, income from foreign exchange trading by Nigeria’s top banks rose sharply by 110 percent, year-on-year, to N145 billion in the...

Despite COVID-19 Harsh Conditions, Banks’ Profits Rise To N677bn       Despite the economic meltdown caused by the COVID-19 pandemic, the nine months 2020 financial results of 12 commercial banks have shown that they recorded a combined profit of N677.149 billion for the period that ended on...

Nigerian Equities Cross N16trn Mark With N133bn Gain       Nigerian equities crossed the N16 trillion mark to market capitalisation of N16.064 trillion yesterday after a major rally by Dangote Cement roused the market to net capital gain of N133 billion. Aggregate market value of all quoted equities...