Nigeria’s Fidelity Bank has taken a 5 percent impairment charge on a ₦17.3 billion ($55 million) loan to Etisalat Nigeria, now called 9mobile, Fidelity Chief Executive Nnamdi Okonkwo said on Wednesday, in line with a Central Bank of Nigeria (CBN) request. Etisalat Nigeria took out a $1.2 billion syndicated loan from a group of 13 […]
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The 2017 edition of the annual Nigerian Banking Sector Report by Afrinvest (West Africa) Limited has shown that a total of 14 banks recorded 91.8 per cent increase in impairment charges as a result of weaker asset quality and the one-off forbearance on writing off fully provisioned loans granted by the Central Bank of Nigeria […]
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Financial performance of FBN Holdings Plc tumbled in the half year ended June 30, 2017 hammered by more than ₦491 billion Non-Performing Loans (NPLs) and ₦62.4 billion impairment charge for credit losses. This implies that over ₦100 billion that otherwise would have accrued to shareholders in profits was lost in the course of the year. […]
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