Nigeria Bank Sees Faster Growth
Nigeria Bank Sees Faster Growth

Nigeria Bank Sees Faster Growth

Nigeria Bank Sees Faster Growth

Nigeria’s biggest bank by revenue expects lending to accelerate and bad debts to drop this year as growth in Africa’s largest economy picks up, Bloomberg reported. “The current macro environment is supportive of loan growth,” Adesola Adeduntan, the chief executive officer of FBN Holdings Plc’s First Bank of Nigeria, said in an interview in Lagos. After expanding less than 10% in 2017, growth in the company’s loan book will be “much better” than the second half of last year, when it already started showing signs of improvement, he said. Non-performing loans as a percentage of total credit will “continue to trend downward” after declining to 20% in the nine months through September from 26% in 2016, helped by recoveries and write-offs, Adeduntan said. The bank is targeting an “improved performance” in revenue and profit in 2018, he said. FBN is seeking to capitalize on an improved economic outlook in the continent’s biggest oil producer by “aggressively” rolling out agency banking this year and strengthening digital platforms to boost fee and commission income, Adeduntan said.

Short URL : https://goo.gl/HCfp3n
  1. https://goo.gl/q8bzLg
  • https://goo.gl/AoTUPU
  • https://goo.gl/r6nJrz
  • https://goo.gl/N2hBCu
  • https://goo.gl/pM5MCm

You can also read ...

Jordan Approves New IMF-Guided Tax Law
Jordan’s cabinet on Monday approved major IMF-guided proposals...
SBI Reports Record $1.1b Loss
State Bank of India reported a loss of Rs. 7,718 crore ($1.1...
Philippines May Suspend Excise Taxes on Petroleum Products
The Philippine government will suspend the collection of...
US, China are nearing a deal to remove American sales ban against ZTE.
US President Donald Trump retreated from imposing tariffs on...
IHS Markit to  Buy Rival Ipreo  for $1.8 Billion
Data firm IHS Markit Ltd. said it will buy smaller rival Ipreo...
Dubai Bank to Buy Turkey’s Denizbank for $3.2 Billion
Dubai’s biggest lender the National Bank of Dubai has agreed...
German Growth Picks Up After Q1 Slowdown
The German economy is in a strong upswing despite data showing...
An EC document says Airbus will repay an A350 loan to the UK government this year  and reduce the drawdown of other loans.
Airbus plans to set out measures that will bring it into line...

Add new comment

Read our comment policy before posting your viewpoints