Business InsightFinancial Market
Banks record N1.44tn in non-performing loans in Q2 – NBS
Extend N15.13 trillion credit to private sector in Q2
The total non-performing loans in the banking sector stood at N1.44 trillion at the end of the second quarter of 2019, according to the National Bureau of Statistics (NBS).
This is about 9.3 percent of the total loans in the sector, the Q2 Selected Banking Sector Data:
Sectorial Breakdown of Credit, ePayment Channels and Staff Strength stated.
According to the report, the gross loans in the banking sector stood at N15.48 trillion in the period under review.
The National Bureau of Statistics (NBS) revealed that the figure of non-performing loans stood at N1.67 trillion at the end of the first quarter of 2019, which was 10.79 percent of the total loan of N15.54 trillion in the period under review.
The report further indicated that a total volume of 711,299,990 transactions valued at N40.48 trillion were recorded in Q2 2019 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed.
NIBSS Instant Payments (NIP) transactions dominated the volume of transactions recorded. 271,344,549 volume of NIP transactions valued at N25.18 trillion were recorded in Q2 2019.
In terms of credit to private sector, the total value of credit allocated by the banks stood at N15.13 trillion as at Q2 2019. Oil & Gas and Manufacturing sectors got credit allocation of N3.33 trillion and N2.32 trillion to record the highest credit allocation as at the period under review.
As at Q2 2019, the total number of banks’ staff decreased by 0.62% QoQ from 105,017 in Q1 2019 to 104,364.
The Report
