Banks’ Operating Expenses Rise By 19.2% On High Inflation, Regulatory Charges
Following a high inflation rate and regulatory charges, a total of 14 Nigerian banks reported N2.03 trillion total operating expenses in nine months of 2022, representing an increase of 19.2 per cent from N1.7...
Despite Macroeconomic Challenges, Eight Banks Report N176.11bn Profit
Despite global and domestic macroeconomic challenges, eight Nigerian banks generated a whopping sum of N176.11billion as profit in the half-year ended June 30, 2022, an increase of 34.66 per cent over N130.78 billion profit earned in the...
Banks Resilient, Record 6.8% Profit Growth In H1, 2021
Nigerian banks recorded 6.8 per cent growth in profit in the first half of 2021 as the sector strived to remain resilient during the COVID-19 pandemic, according to a new report.
Afrinvest West Africa said this in...
In One Year, Nigerian Banks Lend Private Sector N4.1trn
The Nigerian banking sector’s credit to the private sector rose by N4.1tn or 13.8 per cent between September 2020 and September this year.
The CBN’s money and credit statistics report showed that in September 2020, bank’s credit...
Nigerian Banks To Stop Accepting Old £20, £50 Notes Dec 31
Deposit Money Banks in Nigeria have issued a deadline of December 31, 2021 for the acceptance of old £20 and £50 notes to enable proper conclusion of cash evacuation.
One of the banks, Fidelity Bank...
Nigerian Banks Closed 234 Branches, 649 ATMs — IMF
The International Monetary Fund, IMF, yesterday, said that Nigerian banks closed 234 branches and 649 Automated Teller Machines, ATMs, in 2020 leading to a decline in the country’s Financial Access Score (FAS) to 4.44 in the...
