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Banking
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GCR ratings have affirmed Providus Bank Limited’s national scale long and short-term issuer ratings of BBB-(NG) and A3(NG) respectively; outlook maintained…
The International Monetary Fund (IMF) has endorsed Nigeria’s ongoing bank recapitalisation drive. It said that stronger capital buffers are cushioning the financial system against external shocks and strengthening resilience amid intensifying global uncertainties.
Nigeria’s 33 recapitalised deposit money banks (DMBs) sourced 72.5% of their combined capital injections locally over two years, the Apex Bank said in an official statement.