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LequteMan
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According to financial experts, the continued fall in global oil prices could make weak Nigerian banks go into financial distress which, unchecked could lead to bankruptcy. Punch reports:
op bankers told our correspondent on Thursday that some financial institution had started seeing signs that the year would be very difficult owing to the falling oil prices.
The development, they said, might make profits in some banks to tumble within the third and fourth quarters of the year.
“This year is going to be very difficult from what we are seeing already; some banks will run into financial distresses but I don’t think any bank will collapse,” a top official of one of the top banks said.
Analysts had said that a number of regulatory measures aimed at stabilising the economy would also make it difficult for banks to make higher profit this year.
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#Nigeria #Banks
op bankers told our correspondent on Thursday that some financial institution had started seeing signs that the year would be very difficult owing to the falling oil prices.
The development, they said, might make profits in some banks to tumble within the third and fourth quarters of the year.
“This year is going to be very difficult from what we are seeing already; some banks will run into financial distresses but I don’t think any bank will collapse,” a top official of one of the top banks said.
Analysts had said that a number of regulatory measures aimed at stabilising the economy would also make it difficult for banks to make higher profit this year.
click here to read more
#Nigeria #Banks
