Connect with us

Nigeria In One Minute

11 banks set aside N433bn for bad loans



Despite the improving macroeconomic environment, the banking industry seems likely to continue to grapple with Non-Performing Loans (NPLs), in the short-term at least, as financial results of 11 Deposit Money Banks (DMBs) show that they provided a total of N433.8 billion as provision for bad loans in 2017.

The banks are Zenith Bank, United Bank for Africa (UBA), Guaranty Trust Bank, First Bank, Access Bank, Union Bank and Stanbic IBTC. Others include FCMB, Fidelity Bank, Sterling Bank and Wema Bank.

However, confirming predictions that the i proving macroeconomic environment will gradually lead to a reduction in banks’ NPLs, New Telegraph’s analysis of the 11 lenders’ 2017 full year financial statements, shows that the N433.8 billion figures is lower than the total of N477 billion provided by these DMBs for bad loans in the 2016 financial year.

New Telegraph, May 30, 2018


RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now