Non-performing loans to rise above CBN limit – Fitch

Global rating agency, Fitch Ratings, has predicted that bank’s non-performing loans will rise above five per cent by the end of this year.
It said the recent oil price shock and subsequent currency pressure had weakened the Nigerian operating environment and was likely to result in lower Gross Domestic Product growth in 2015.
In turn, the banks are likely to report weaker profitability, asset quality and capital ratios, Fitch said in a new report, ‘2015 Outlook Nigerian Banks: Oil Shock and Policy Moves Test Bank Resilience and Ratings’. Continue Reading