Nigeria: Banks' Bad Debt Portfolio Drops By 26.1% to N263bn

8 October 2018

AS 12 banks record marginal growth of 0.02 percent to N920.4 billion from N920.2 billion in H1'17, stakeholders and operators in the capital market have frowned at the low interest income recorded by leading banks in the first half of 2018 (HI'18).

But the banks have, however, reduced their bad debts (impairment losses) by 26.1 percent to N263 billion in H1'18 from N356 billion in H1'17, a development investors applauded saying that it will improve profitability of the banks in the third quarter, Q3'18, which in turn would lead to increase in the returns to shareholders at the end of the year.

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