The decisive return to orthodox monetary policy by the Central Bank of Nigeria (CBN) and its roll out of stringent measures aimed at strengthening banks’ capital buffers and curbing regulatory forbearance abuses are testing the financial resilience of financial institutions, like First Holdco, Zenith Bank, UBA, FCMB, and Access Bank, among others.
That was as a report released yesterday by renaissance capital, an emerging and frontier market investment bank, titled, “Nigerian banks: cash is king,” revealed that First Holdco had significant forbearance exposure of 14 per cent, estimated at $887 million.
GTB and Stanbic clear of forbearance as Zenith, Access Bank, UBA, FCMB face headwinds over Aiteo, Niconde, 9mobile and Wemco Loans.
