The Nation Newspaper Banks to beef up capital to mitigate forex shocks
More banks are expected to undertake capital raising to beef up their balance sheet as banks take proactive measures to mitigate short to medium-term risks occasioned by foreign exchange volatility.
President, Association of Capital Market Academics of Nigeria, Professor Uche Uwaleke, said recapitalisation for banks had become necessary in view of the plummeting value of the naira. Managing Director, Globalview Capital Limited, Mr. Aruna Kebira, said banks might be reading both the lips of the apex bank and the unfolding macroeconomic environment.
According to him, while banks generally may easily refer to their business expansion plans, the banks might also be hedging against medium-term risks and the unfolding dynamics in the operating environment.
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