Browsing: Banks

‘Economic, Regulatory Pressures to Suppress Banks Q2 Earnings by 8%’. Amidst concern for economic recession which has generally clouded earnings outlook for 2020, analysts have estimated 8% cuts in banks second quarter earnings.

Net FX Position, Hedge Contracts to Help Banks Survive Pressure. The Nigerian banks abilities to survive regulatory and ‘virus’ triggered economic challenges would depend on their structure, net dollar position…

Analysts say FX Liquidity Pressure Looms Large in Banks. Analysts

CBN Rationalises Policies to Prevent Imminent Recession. The Central Bank of Nigeria has come out to defend its unorthodox policies, said it will not be deterred in its efforts to steer the economy away from looming recession.

CBN adjusts timelines for reversals of complaints on electronic channels. The Central Bank of Nigeria (CBN) has adjusted timelines for reversals or resolution of refund complaints on electronic channels with effect from June 8.

Monetary Policy Committee cuts benchmark interest rate to 12.5%. Against investment banking analysts’ expectations, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), on Thursday cut the policy rate from 13.5% to 12.5%.

Central Bank of Nigeria lifts suspension on cheque clearing The Central Bank of Nigeria said it has lifted temporary suspension…

Banks to take sharp earnings haircuts as economy battles virus. Not as a result of lack of competitive strengths but banks are expected to take sizeable haircuts in earnings performance in 2020 earlier guided.

Banking sector non-performing loans drop by 41% in 2019. The banking sector assets quality improved significantly in 2019 as non-performing loans (NPL) ratio nosedived by 41%.

COVID-19: Banks stop clearing cheques on CBN directive