Nigeria: Standard & Poors - Nigerian Banks to Record Increased Loan Losses Next Year

4 April 2013

Standard & Poor's (S&P) Wednesday predicted that Nigerian banks may report increased loan losses from next year amid anticipated growth in lending.

Bloomberg quoted S&P's Johannesburg-based analyst, Matthew Pirnie, to have forecast that the Nigerian banking industry would record between 20 and 30 per cent rise in loans and deposits this year due to foreign exchange and non-oil industry lending.

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