eyeview:
How zombies will respond to this news:

Zombies: First bank can fold up if they want,it will allow the other banks the chance to grow

Zombies: who First bank don epp

Zombies: we don't need so many big banks at this time.

Zombies: First Bank ws pro-PDP,they should fold up joor

owagbeba:


Can't you folks just stop politicizing every thread. The topic is not for your kin. We are all just tired of not being able to read meaningful contribution on so many threads. We are tired! Please!

TippyTop:


Compare to the suffering now, Dr Jonathan and his team were geniuses. Buhari is not known to be a patient listener or a good economist, yet his ministers are in awe of him.
No one dare advice Bubu on the way forward, therein lies our problems. Bubu is Mr-know-it-all.

Remii:
its neither her nor there, GEJ solved fuel problem with uncontrolled subsidy payout, spending almost all our income on subsidy, even unbudgeted, so in a way the evil days were postponed by GEJ. With low inflow, how can we continue uncontrolled subsidy? GEJ should have stuck his gun in 2012 by removing the subsidy and he would have had 3 years to prove he was right. PMB is also making mistake of just price increase to meet forex market forces instead of full deregulation.

citizenisb:
http://nairametrics.com/here-is-why-devaluation-could-be-catastrophic-for-first-bank/

Another round of devaluation of the naira will compound the woes of First Bank Plc as over 50 percent of the lender’s spiralling non performing loans (NPLs) are dollar denominated, analysts at Ren Cap say.

First Bank has suffered a significant drop in profit caused by huge impairments on financial assets otherwise known as loan loss expense.

NPLs increased to 22 percent in the first quarter of the year, fuelled by exposure to the oil and gas.

This figure crosses the 5 percent threshold questioning the risk management strategy and portfolio management of the bank.

The bank’s risk assets managers failed to diversify or minimise risk and maximise return.

A possible devaluation of the currency is inevitable given the continued depletion of the external reserves and rising inflation.


“Another related asset quality concern is that 56% of the bank’s NPLs are FX, which implies that if devaluation occurs, coverage levels would fall, with the bank needing to set aside more naira earnings to cover these greenback NPLs. In light of this, it is quite difficult for us to get comfortable with a coverage ratio of 37 percent”, said analysts at Rencap.

oduastates:

Yeah , he did a good job mortgaging your future.
More Jonathan to your elbow and hopefully one day, the Nigerian structure will change an Jonathan's will take charge in your state or region.

yomalex:
So disgusting that something that should generate intellectual discussion is being turned to a PDP/APC

TippyTop:
[s][/s]

You're not forced to come to the politics section, if you're tired of the bitter truth, I suggest you head over to the the Romance section.

nwaanambra1:
like first bank like every other bank in Nigeria - they only invest where the profit will be astronomical without stress.

they all refused to invest in the youths - they all failed to encourage entrepreneurship. People with great ideas that will amount to great profits in future where denied loans. they where all interested in giving loans to mighty companies with or without insurance.

The day of reckoning is here for all the financial institutions. like the President said during inauguration - in his government, you reap what you sow, its time for hard-work to be appreciated.

First bank and the rest of them can still retrace their steps before its too late for them.

owagbeba:


Can you expand on the difference between meeting forex market forces and full deregulation?

Since these fuel importers tend work as a cartel, don't you think they might gang up and form a sort of monopoly on pricing?

owagbeba:


The discussion is about the impact of devaluation on first bank NPLs. Will first bank go bankrupt if naira is devalued? Are there other banks that may be affected? Should we withdraw our monies?

We'll appreciate if you could just stick to that topic rather than go on about some Dr Jonathan blissful rule and Buhari.

yomalex:
So disgusting that something that should generate intellectual discussion is being turned to a PDP/APC

TippyTop:
[s][/s]

What assistance would my intelligent contribution make to a bank that Fed Govt policies has rendered useless?

juman:
PDP destroyed the country before they left the scene, but APC is not managing things well.

twerky:
On my way to firstbank to withdraw my #2100

Ijaya123:


Please which policy is that o?

TippyTop:

Google exist for a reason.

owagbeba:


The discussion is about the impact of devaluation on first bank NPLs. Will first bank go bankrupt if naira is devalued? Are there other banks that may be affected? Should we withdraw our monies?

We'll appreciate if you could just stick to that topic rather than go on about some Dr Jonathan blissful rule and Buhari.

ogawisdom:
Hmmm op dnt cause panic withdrawals ooo
I trust First bank sha

jcmaiah:
Please dollar should reach N500. Forex traders (scammers according to the dummies) will relate to what I'm saying.