If your business already has a lot of outstanding debt, most banks will know due to their interconnectivity, and certainly lead to a denial, or an approval with a much higher interest considering the risk of a default.
During the 2023 Christmas holidays, I had the rare, yet delightful, opportunity to take a needed break from work to have drinks with friends and industry colleagues, most of whom are banking sector practitioners.
The banking sector may experience another wave of consolidation as there have been rumours that some Tier 1 banks may be acquiring smaller banks.
Industry stakeholders have predicted the emergence of more mergers in the Nigerian banking sector.
