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NIGERIAN BANKS
News and stories about Nigerian banks
Capital erosion and a possible resurgence in banks' non-performing loans are just some of the risks.
Among the 26 banks affected by the latest debits are regular "victims".
Wema Bank insisted that not more than two positive cases were confirmed.
Nigerian banks, tend to spend more on advertising compared to companies in other sectors of the economy. And this usually influences their financial performances.
Banks' loans increased by more than N1 trillion during the first three months of 2020.
The performance by banks in Q2 2020 is expected to be much lower, mainly due to the economic fallouts from the COVID-19 pandemic.
In Nigeria, there are currently three banks with a holding company structure, according to information obtained from the NSE. The banks are – FCMB Group Plc, Stanbic IBTC Holdings Plc, and FBN Holdings Plc.
Now that more Nigerians are increasingly resorting to digital banking, there is an even greater chance that banks will start earning more income from e-banking fees. Experts agree to this
"One of the challenges of working from home as a banker is that there are lots of softwares that we use that cannot be accessible from home because of security reasons."
The coronavirus pandemic has forced a change in its outlook for non-performing loans.
"In conclusion, corporate entities in the financial services space must begin to realign their business strategies to recognise the sweeping technological changes in the business environment."
“Some companies (banks) have already begun to slash their CAPEX and will most likely cut dividend payouts in 2020.”