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Fitch
Ratings says in a new special report that Nigerian banks are performing well
despite the twin hurdles of tight monetary policy actions and new banking
rules.”This is mostly supported by continuing robust economic growth.
Nevertheless, we expect bank performance and growth to moderate over the next
18 months due to Central Bank of Nigeria actions aimed at protecting the
economy and the banking system,” says Mahin Dissanayake, Director in Fitch’s
EMEA Financial Institutions team.
The
CBN’s stance also shifted towards protecting the consumer through its revised
rules on banking charges introduced in 2013. All these moves, however, led to
weaker profitability and stemmed credit growth in H114 – a trend that is likely
to continue into 2015.
All
Fitch-rated Nigerian banks were profitable in
