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UBA, Stanbic lead, as Nigerian banks boost loan books by N689.5 billion in Q1 2021

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Nigerian Banks listed on the floor of the Nigerian Exchange Group Limited (NGX Plc) gave out additional N689.5 billion loans to their customers between January and March 2021, as the Central Bank of Nigeria intensifies its move in increasing access to credit by customers, so as to stimulate economic growth.

The expansion of credit by Nigerian banks is in tandem with CBN’s expansionary policies and growth plan, aimed at resuscitating the economy, especially after the COVID-19 pandemic and its impact on the Nigerian economy.

Nairametrics analysed the loans and advances issued out by Nigerian banks in Q1 2021, vis-a-viz their interest income for the period.

It is pertinent to note that first-tier banks (FUGAZ) faced stiff competition from other market rivals like Stanbic, Fidelity, and FCMB, a major reason why only two of the tier-1 banks made it to the top five (5).

Below are the top borrowers:

UBA – N178.1 billion

The pan-African bank led the list, offering an additional sum of N178.08 billion to its customers in the first three months of 2021. According to its last reported financial statement, its gross loans stood at N2.73 trillion at the end of Q1 2021, compared to the s.um of N2.55 trillion recorded in December 2020, representing an increase of 7% during the period.


Stanbic IBTC – N104.9 billion

Stanbic IBTC offered the second-highest gross loans and advances to customers during the period under review. It lent an additional sum of N105 billion in the 3 months period ended in March 2021.


Fidelity Bank – N100.1 billion

Fidelity Bank Plc ranked third on the list of highest lenders after it lent an additional sum of N100.15 billion in the first 3 months of 2021 to its customers.


FBN Holdings – N82.31 billion

FBN Holdings Plc increased its loan offering to customers within the period under review by about N82.31 billion.


FCMB – N63.31 billion

FCMB also made the list of banks that offered the highest amount of loans to customers. Within the period under review, it lent an additional N63.3 billion, while its total customers’ loans stood at N886.09 billion as of March 2021.


Others on the list include:

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