Diamond Bank outsmarts collapse as it downgrades self to national bank
Embattled Diamond Bank Plc, has relied on the recent sale of its London international branch to seek delisting by the Central Bank of Nigeria (CBN), from an international bank to a national bank with immediate effect. The apex bank had…
CBN silent on latest Fitch rating on Tier-1 banks’ over operating environment
Barely four days after the global financial rating agency, Fitch Ratings expressed fresh concerns over government and regulatory ability to support the Nigerian banking industry, the Central Bank of Nigeria (CBN), has remained mute. Fitch had earlier in the week,…
Lead business fronts that shaped Nigerian economy last week ending May 19, 2018
The week in review kicked off with the release by the National Bureau of Statistics (NBS) of Nigeria’s headline consumer price index which recorded its fifteenth consecutive deceleration, moderating to 12.48% y/y (compared to 13.34% in April 2018). On a…
Some banks (Tier-2) at risk of going down should dollar hit N450— Fitch Report
—UBA, Zenith, Access, 2 others strong A recent stress test conducted by leading international financial surveillance agency, Fitch Ratings has indicated that some tier-2 banks (banks with total assets less than N2tn) will fall below the capital adequacy ratio of…
Fitch rating punches Nigeria’s $300m diaspora bond as Dabiri-Erewa deepens drive
The on the spot designation of the floated Nigeria’s $300m Diaspora bond of ‘B+(EXP)’ by Fitch Ratings has been seen as a big blow by industry experts. This is as the driver of the bond, and Senior Special Assistant to…
Fitch says banks’ financial stress may continue till year end due to operating environment
Fitch Ratings has explained that Nigerian banks will continue to face challenges this year, as many of the stress including non-performing loans and business squeeze in 2016 are persisting this year. Many of the debtors fingered in bank’s NPLs are…
