Total assets of the Nigerian banking industry rose by 25.12 per cent in one year to N77.59tn as of the end of February 2023.
The Central Bank of Nigeria disclosed this in the personal statement made by the Deputy Governor, Financial System Stability Directorate, CBN, Aishah Ahmad, at the last Monetary Policy Committee meeting.
“Industry credit also increased by N4.98tn between end-February 2022 and end-February 2023, with significant growth in credit to manufacturing, general commerce, and the oil & gas sub-sectors. Notably, this impressive increase was achieved with continued decline in non-performing loans ratio.”According to her, capital adequacy and liquidity ratios were strong at 13.70 and 43.10 per cent in February 2023, respectively, with non-performing loans ratio at 4.
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