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  #12561 (permalink)  
Old 9th March 2017, 11:33 AM
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Default Re: The Banks

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Incompetence in Nigeria's private sector is very high. If one can blame the CFOs what of the bankers that granted the loans? Most Nigerian banks don't even have resident Economists.

Lafarge fired their CFO for the same reason. Few weeks ago, I was telling some bank executives at an event organized by the Nigerian-American Chamber of Commerce that devaluation is a double edge sword for them. While banks are focussed on their "revaluation gain", they fail to see that devaluation directly leads to increase in Non Perfoming Loans
https://www.thecable.ng/etisalat-nai...bn-debt-crisis
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  #12562 (permalink)  
Old 21st March 2017, 08:57 AM
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Default Re: The Banks

Most likely Actis

https://www.thisdaylive.com/index.ph...new-investors/
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Old 27th March 2017, 11:20 AM
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Default Re: The Banks

CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" - Business - Nigeria
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  #12564 (permalink)  
Old 27th March 2017, 11:29 AM
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Default Re: The Banks

Excellent. All roads lead to N305..........
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  #12565 (permalink)  
Old 27th March 2017, 12:57 PM
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Default Re: The Banks

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excellent. All roads lead to n305..........
amen!!!!
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  #12566 (permalink)  
Old 27th March 2017, 02:58 PM
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Default Re: The Banks

Quote:
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Excellent. All roads lead to N305..........
Please take a look at this : https://twitter.com/yinkanubi/status/845954716462972928
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  #12567 (permalink)  
Old 27th March 2017, 06:06 PM
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Default Re: The Banks

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Excellent. All roads lead to N305..........

Is it possible? Can they sustain this?A lot of cancelled purchases will be activate now the value looks favourable and the demand will go up.For example vacations cancelled due to high value of dollar,now the value has come down and ticket prizes lower, there is a tendency for people to want to travel, hence the demand will go up again
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  #12568 (permalink)  
Old 27th March 2017, 08:21 PM
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Default Re: The Banks

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Is it possible? Can they sustain this?A lot of cancelled purchases will be activate now the value looks favourable and the demand will go up.For example vacations cancelled due to high value of dollar,now the value has come down and ticket prizes lower, there is a tendency for people to want to travel, hence the demand will go up again
Why is he surprised? Both the demand and pricing of dollars of recent has been driven by speculation and for "investment". These type of demand will naturally evaporate when prices drop.
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  #12569 (permalink)  
Old 28th March 2017, 03:05 AM
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Default Re: The Banks

Quote:
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Is it possible? Can they sustain this?A lot of cancelled purchases will be activate now the value looks favourable and the demand will go up.For example vacations cancelled due to high value of dollar,now the value has come down and ticket prizes lower, there is a tendency for people to want to travel, hence the demand will go up again
Remains to be seen but there are some controls in the policy released in early march that should moderate demand to some extent although they are yet to be tested. I think the more immediate threat to sustainability is the seeming downward direction of oil prices although that also seems likely to be short term as summer is yet to kick off when the refineries go into full swing in the more developed countries.
As things stand, it is only the US crude stockpile that is increasing and putting pressure on prices, not refined product reserves, those are trending down at an even higher rate than crude stockpile is trending up. 2017 is shaping up nicely to be a good year for Nigeria in terms of petrodollar revenues when compared to 2016 and it also looks like the dollar squeeze of 2016 has helped moderate the nation's huge dollar appetite of the high oil price period.
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  #12570 (permalink)  
Old 28th March 2017, 09:36 AM
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Default Re: The Banks

Non-performing loans will hit 12.5% in 2017 – Agusto & Co MD

https://www.dailytrust.com.ng/news/b...md/191032.html
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  #12571 (permalink)  
Old 28th March 2017, 02:00 PM
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Default Re: The Banks

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Remains to be seen but there are some controls in the policy released in early march that should moderate demand to some extent although they are yet to be tested. I think the more immediate threat to sustainability is the seeming downward direction of oil prices although that also seems likely to be short term as summer is yet to kick off when the refineries go into full swing in the more developed countries.
As things stand, it is only the US crude stockpile that is increasing and putting pressure on prices, not refined product reserves, those are trending down at an even higher rate than crude stockpile is trending up.2017 is shaping up nicely to be a good year for Nigeria in terms of petrodollar revenues when compared to 2016 and it also looks like the dollar squeeze of 2016 has helped moderate the nation's huge dollar appetite of the high oil price period.
I suspect a sizeable number of US refineries are out on maintenance now prior to starting to produce the summer blend, that's why crude stockpiles are increasing but refined products are dropping. I want this period to pass so we can know where we all stand...
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  #12572 (permalink)  
Old 28th March 2017, 04:56 PM
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Default Re: The Banks

Random Musings an Stanbic IBTC, UBA & Access Bank. Details available at:

Dialectic Africa Analyst
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  #12573 (permalink)  
Old 6th April 2017, 04:00 PM
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Default Re: The Banks

Credit default remain a risk in 2017: Nigerian central bank | News by Country | Reuters

Meanwhile, next year you may not have those "FX Revaluation Gains" to mask these losses. Buy bank shares with caution.
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  #12574 (permalink)  
Old 8th April 2017, 05:15 AM
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Default Re: The Banks

https://www.bloomberg.com/news/artic...ing-bank-loans


Nigeria Yields at Five-Year High Seen Cannibalizing Credit


The Nigerian government is offering such good rates on bonds and Treasury bills that the country’s banks would rather tie their money up in state debt than lend to businesses or consumers.

“Banks in Nigeria have a reduced incentive to lend to the private sector because of the favorable interest on government securities,” Akintunde Majekodunmi, a banking analyst at Moody’s Investors Service, said by phone from London on Wednesday. “They have increased appetite for government securities, which may cannibalize private-sector credit.”

Lending in Africa’s biggest oil producer just about stalled in 2016,.........


Am sure the person that wrote this is Oga Waves Student
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  #12575 (permalink)  
Old 20th April 2017, 04:55 PM
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Default Re: The Banks

Flowing from a recent Central Bank of Nigeria (CBN) stress tests on banks operating in the country, seven deposit money banks are said to be operating below the statutory capital adequacy ratio (CAR), pegged as high as 15 per cent of a bank’s capital.

Although there is no official confirmation from the apex bank, which constantly reassures the banking public on the health of Nigerian banks, but authoritative sources in the regulatory bank, told The Guardian that “stress test is a routine operation of the CBN, and once we discover anything untoward, we take adequate measures to check it.”

CAR is the ratio of a bank’s capital to its risk, which the CBN uses to determine a bank’s capacity to absorb a reasonable amount of loss, as a means of protecting the depositors and promoting stability and efficiency in the financial systems.


Already, some banks are issuing statements to reassure their customers on their capital adequacies, thus fueling anxiety over those who fall short. The Nigerian Deposit Insurance Corporation (NDIC), once explained that Nigerian banks CAR needed to be as high as it is compared to other climes because of its peculiar economic realities, to enable it withstand sudden environmental shocks.
As it is, the option of approaching the capital market may not help the affected banks to shore up their capital base, because of the prevailing illiquidity situation in the equities market, a development that makes investors to shun even high yield financial stocks.

But when contacted some of the bank’s deferred to comment on the issue till today, while others like Diamond Bank, confidently declared that its CAR is above 16.5 per cent, saying that its soon to be released audited accounts for 2016 and even first quarter 2017 are proof of its good standing.

Diamond Bank told The Guardian on the telephone, “Yes, every bank needs funds but we don’t need to approach the capital market because we have enough capital adequacy to drive our operations. Our bank is retail focused and we have a lot of liquidity to drive it.”

Union Bank, which neither denied nor confirmed its CAR inadequacy, admitted that it planned “to raise N50 billion capital later this year,” as already indicated in its full year 2016 report, and a statement earlier issued in that regard.


https://t.guardian.ng/business-servi...m-requirement/
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  #12576 (permalink)  
Old 21st April 2017, 10:22 AM
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Default Re: The Banks

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Flowing from a recent Central Bank of Nigeria (CBN) stress tests on banks operating in the country, seven deposit money banks are said to be operating below the statutory capital adequacy ratio (CAR), pegged as high as 15 per cent of a bank’s capital.

Although there is no official confirmation from the apex bank, which constantly reassures the banking public on the health of Nigerian banks, but authoritative sources in the regulatory bank, told The Guardian that “stress test is a routine operation of the CBN, and once we discover anything untoward, we take adequate measures to check it.”

CAR is the ratio of a bank’s capital to its risk, which the CBN uses to determine a bank’s capacity to absorb a reasonable amount of loss, as a means of protecting the depositors and promoting stability and efficiency in the financial systems.


Already, some banks are issuing statements to reassure their customers on their capital adequacies, thus fueling anxiety over those who fall short. The Nigerian Deposit Insurance Corporation (NDIC), once explained that Nigerian banks CAR needed to be as high as it is compared to other climes because of its peculiar economic realities, to enable it withstand sudden environmental shocks.
As it is, the option of approaching the capital market may not help the affected banks to shore up their capital base, because of the prevailing illiquidity situation in the equities market, a development that makes investors to shun even high yield financial stocks.

But when contacted some of the bank’s deferred to comment on the issue till today, while others like Diamond Bank, confidently declared that its CAR is above 16.5 per cent, saying that its soon to be released audited accounts for 2016 and even first quarter 2017 are proof of its good standing.

Diamond Bank told The Guardian on the telephone, “Yes, every bank needs funds but we don’t need to approach the capital market because we have enough capital adequacy to drive our operations. Our bank is retail focused and we have a lot of liquidity to drive it.”

Union Bank, which neither denied nor confirmed its CAR inadequacy, admitted that it planned “to raise N50 billion capital later this year,” as already indicated in its full year 2016 report, and a statement earlier issued in that regard.


https://t.guardian.ng/business-servi...m-requirement/
I think one can safely conclude Union Bank is one of the 7 based on this report. Which are the other 6 ? I think Skye will be one of them based on prior known problems.
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  #12577 (permalink)  
Old 24th April 2017, 01:53 PM
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Default Re: The Banks

That is more than a 100% growth in profit.

BRIEF-Stanbic IBTC Holdings reports Q1 group pre-tax profit of 18.63 bln naira | News by Country | Reuters
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  #12578 (permalink)  
Old 24th April 2017, 02:47 PM
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Default Re: The Banks

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In 3 months ooo. Hmmm

My problem with them is the dividend they pay .
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  #12579 (permalink)  
Old 12th May 2017, 11:39 AM
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Default Re: The Banks

https://www.bloomberg.com/news/artic...-with-laggards


Moody's Sees Nigerian Bank Regulator Being Patient With Laggards


Nigerian banks struggling to raise capital buffers may find their regulator is a lot more tolerant than in the past, according to Moody’s Investors Services.

The Central Bank of Nigeria is able to identify stresses in the industry much earlier than during a banking crisis in 2009, when the government had to take over bad debts and recapitalize lenders, Akintunde Majekodunmi, a banking analyst at Moody’s Investors Service, said in interview in Lagos, Nigeria’s commercial hub, on Wednesday.

That gives it room to “follow regulatory forbearance” in the surveillance and measurement of risks, he said.

Some of the country’s small- and medium-sized lenders are struggling to meet capital requirements after a plunge in oil prices since mid-2014 cut government revenue. A shortage of dollars has also made it harder for businesses to survive, prompting a surge in non-performing loans. Lenders including Unity Bank Plc, Diamond Bank Plc and Skye Bank Plc are in talks to sell assets and attract equity and debt to increase capital above the 10 percent set for local lenders and 15 percent required for banks with international operations.


The regulator replaced the top management of Skye Bank in July last year for falling short of capital thresholds and extended a loan to the lender to boost its liquidity. In 2009, a credit crunch prompted the government to create the Asset Management Corp. of Nigeria, or Amcon, which bought about 14,000 non-performing loans from 10 banks at a cost of 3.9 trillion naira ($12 billion). It also took over three lenders that couldn’t meet a recapitalization deadline.

Amcon, which sold the last of the three banks to new investors in March, said it has no plans for another rescue package.

Notwithstanding a surge in non-performing loans following a contraction in Nigeria’s economy last year, the “outlook has improved’’ for the country’s banking industry due to higher oil prices and increased dollar supplies from the central bank, Majekodunmi said.

Nigeria’s 10-member banking stocks index has climbed 45 percent since the government three weeks ago opened a platform that allows dollars to be traded more freely.
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