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Nairaland Forum / Nairaland / General / Business / Banking Sector Profit Falls By 28% – Report (5048 Views)
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Banking Sector Profit Falls By 28% – Report by Adesiji77: 6:39am On Sep 23, 2016 |
The Nigerian banking sector’s profit fell by 28.4 per cent in the 2015 financial year, the just released Afrinvest 2016 Banking Sector Report showed. http://punchng.com/banking-sector-profit-falls-28-report/
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Re: Banking Sector Profit Falls By 28% – Report by Benjom(m): 7:31am On Sep 23, 2016 |
Indeed, this is trying times for all sectors. 2 Likes |
Re: Banking Sector Profit Falls By 28% – Report by helovesme(f): 8:29am On Sep 23, 2016 |
Nigeria banking sector will continue to struggle until they learn to do banking the right way and shift their focus from retail banking. There's more to banking than just chasing individuals for deposits up and down or chasing businesses for salary accounts. Now that TSA has been implemented (which was a shock to the sector), things should stabilise with banks looking at other ways they can make profit such as granting loans to genuine entrepreneurs and financing projects in sectors such as agriculture and manufacturing. This is why CBN needs to reduce interest rates (and ensure the rate cut is passed on by the banks) as this will reduce the loan burden on companies and encourage genuine businesses to seek funding from banks. Regarding the forex storm - this too shall pass. The banks were also part of the problem as they've benefitted from the parallel rates system. 7 Likes |
Re: Banking Sector Profit Falls By 28% – Report by emymeeky: 8:30am On Sep 23, 2016 |
good news I have every right to express my opinion 1 Like |
Re: Banking Sector Profit Falls By 28% – Report by CACAWA(m): 8:30am On Sep 23, 2016 |
[size=18pt]Nice[/size] Besides, contact me if interested in buying our land @ iyaganku quarters, Ibadan. Direct buyers only please |
Re: Banking Sector Profit Falls By 28% – Report by emmabest2000(m): 8:31am On Sep 23, 2016 |
Are you still keeping the faith like that butterfly in the picture below ? SMH .... 4 Likes
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Re: Banking Sector Profit Falls By 28% – Report by Chipappii(m): 8:31am On Sep 23, 2016 |
Everything is falling nowadays. Naira is falling, minister of woman affairs, mrs clinton, nigeria banking sector, the zoo is falling, rain is falling nawa o. Buhari why nah. Enjoying my ipob holiday 5 Likes |
Re: Banking Sector Profit Falls By 28% – Report by Nobody: 8:31am On Sep 23, 2016 |
No free money again. Instead of our so called youth fight for their rights, they were busy fighting for politicians that brought us to where we are today. Many people here are clouded by ethics, religious, and party politics, and they will wake up one day and see that they are now 40 years without achieving any thing in life. Just imagine if banks give all those small scales businesses avoidable, easy to access, loan to service their works and businesses, nigeria will be better off than this, and hunger will be reduced. Many youths will be able to venture into many well planned bussiness, even while still in school, assuming the loans are avoidable and easy to service. Just imagine how the so called mama peace is being dragged here and there by efcc, and many are shouting na winch hunt.....wait... and pulse Do you know that Mama peace uses skye bank to do many of the so called illegal transaction and deals? Who was in charge of Skye bank? Tunde Ayeni, right? Who bought IKEJA distributing company (power holding)? same man right? Who was the leader of those that were looking for bail out for power holding during GEJ era, same man , right? Who co bought NITEL at a rediculous price? Same man , right? who donated highest money to GOODLUCK JONATHAN CAMPAIGN fund raising, Same man ,RIGHT........ IS it making sense to you now that the same bank is now one of the one that servicing highest bad loan and at the brink of collapse before the CBN took over? DO you think if it collapse, it is mama peace money that will be stuck there? This is one of many cases. While their family members are lavishing "easy money" on infrugal things, buying iphone 7, samsung 8, and every latest gadgets every week, you are here, looking for money to buy food just to eat this morninig, and keep defending them, continue. Until you understand that the battle is between the elites and the sensible masses the better your future. Think people, i am always bitter when someone will be abusing a president that has balls to challenge any looters either by winch hunt and wizard chase. Until you realize that these elites are not your friend but your enemy. Until we fight them to stand still, until we have their balls in our hands.... until then..... it cant be better than this? This is jsut the beginging. Let the bank sit tight and do bussiness as bankers and investors and not as cash office. They will use your collective money to do bussiness, make cool money from it then give you a credit of 10 naira, and at the end of the month, send you an alert for debit of 100. Who loose? and many morons are praising those behind such loss? 6 Likes |
Re: Banking Sector Profit Falls By 28% – Report by Millz404(m): 8:32am On Sep 23, 2016 |
We don't know how to position our vexation again. You people should do us a favor and leave us the fu¢k alone with all this daily badnews. The economy is bad. Ok. We don hear |
Re: Banking Sector Profit Falls By 28% – Report by hazyfm1: 8:32am On Sep 23, 2016 |
Re: Banking Sector Profit Falls By 28% – Report by Dahkogrin007(m): 8:32am On Sep 23, 2016 |
Shey MMM follow get hand in d fall?? |
Re: Banking Sector Profit Falls By 28% – Report by chynie: 8:32am On Sep 23, 2016 |
I don't know believe all these report again all these monies they are deducting from my acc how can they be making loss |
Re: Banking Sector Profit Falls By 28% – Report by MadCow1: 8:33am On Sep 23, 2016 |
Mtcheeew! The wailers will say its because of TSA... Fhuck the Banks.. |
Re: Banking Sector Profit Falls By 28% – Report by HAH: 8:34am On Sep 23, 2016 |
Why not when we have lazy banks, most banks were used to government money being kept in their custody and making supernormal profit while giving kick back to the managers of the funds in the MDA, Every money in CBN will still end up in commercial banks through salary payment and payments to contractors, so banks need to get more salary account and of contractors to trap money coming from government. However the government can also share a Certain percentage of the TSA money to commercial bank as a loan at single digit interest rate |
Re: Banking Sector Profit Falls By 28% – Report by mencade5(m): 8:34am On Sep 23, 2016 |
Buhari is a cursed presidiot. 1984 repeating itself 2 Likes |
Re: Banking Sector Profit Falls By 28% – Report by Flets: 8:34am On Sep 23, 2016 |
Crass illiteracy, stupid nepotism and endemic tribalism brought us to where we are. Its not about Buhari. Buhari has been a failure from 1984, yet tribalism blinded the zombies We knew militancy will return under Buhari.... yet zombies never counted the cost We knew Buhari is a core military man with no regard for the private sector .... then why complain about the negative policies Buhari openely supported Bokoharam before elections .... why the current complain about Fulani Herdsmen? Buhari led Nigeria to recession in the past.... why complain about current recession Truth is there has been no surprise, Buhari has been true to himself by being a failure. The zombies who voted him into power despite glaring / overwhelming evidences are absolutely responsible for the troubles we are in as a country. Note: All Nigerian key assets will be sold before 2019. Nigeria is finished 7 Likes |
Re: Banking Sector Profit Falls By 28% – Report by abokibuhari: 8:35am On Sep 23, 2016 |
MadCow1:and also fhuck uniben 1 Like |
Re: Banking Sector Profit Falls By 28% – Report by veekid(m): 8:35am On Sep 23, 2016 |
BUHARI!!! BUHARI!!!! See wetin you don cause again? ? This generation will never forget you 1 Like |
Re: Banking Sector Profit Falls By 28% – Report by freemanbubble: 8:37am On Sep 23, 2016 |
ok |
Re: Banking Sector Profit Falls By 28% – Report by Ijaya123: 8:37am On Sep 23, 2016 |
Effect of implementation of TSA. Banks can now go bank to core banking instead of waiting for easy government money. 1 Like |
Re: Banking Sector Profit Falls By 28% – Report by Debaddest(m): 8:38am On Sep 23, 2016 |
I think Buhari is a dictator where there's no freedom of speech in the land, without even knowing that Nairaland is the worst,Banners everywhere cos I speak my mind 2 Likes 1 Share
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Re: Banking Sector Profit Falls By 28% – Report by Nobody: 8:39am On Sep 23, 2016 |
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Re: Banking Sector Profit Falls By 28% – Report by MadCow1: 8:40am On Sep 23, 2016 |
Re: Banking Sector Profit Falls By 28% – Report by Nobody: 8:41am On Sep 23, 2016 |
I'm not surprised though, there'll definitely be losses since TSA has been fully implemented and also no more slush funds again. Those banks haven't seen anything yet, let the CBN live u up to its responsibilities by clamping down on banks who sabotage the economy with the dollar business. By then, we'd know the real banks. |
Re: Banking Sector Profit Falls By 28% – Report by Zellie: 8:42am On Sep 23, 2016 |
i guess this is an effect of the TSA implementation 1 Like |
Re: Banking Sector Profit Falls By 28% – Report by AZeD1(m): 8:47am On Sep 23, 2016 |
helovesme:We don't have banks in Nigeria, they are trading houses. That's why the banks grew big but the real sector did not. We as a country have a fundamentally bad economy and if we don't use this trying times to correct the structural defect, then we will never get it right. 2 Likes |
Re: Banking Sector Profit Falls By 28% – Report by popye(m): 8:47am On Sep 23, 2016 |
buhari 1 Like |
Re: Banking Sector Profit Falls By 28% – Report by kjhova(m): 8:50am On Sep 23, 2016 |
helovesme: I kindda agree with you on many levels except that CBN should reduce interest rates. The CBN has minimal control on Monetary Policy Rates as many other extraneous factors bear on rates. The main challenge is the scarcity of long term funds in the system resulting in the banks granting medium term loans with high interest on short term funds. 1 Like |
Re: Banking Sector Profit Falls By 28% – Report by geostrata(m): 8:53am On Sep 23, 2016 |
Banking sector profit falls 28%......... - Report MMM sector profit increase by 30% ......... - Investors Banks Alert after 30 days 1 Like |
Re: Banking Sector Profit Falls By 28% – Report by helovesme(f): 8:59am On Sep 23, 2016 |
AZeD1: I agree @ bolded. This is the time to right all the wrongs that have been going on for decades. |
Re: Banking Sector Profit Falls By 28% – Report by ReorxTohGan(m): 9:10am On Sep 23, 2016 |
Everything About Naija Just Dey Fall,buh Commodities No Wan Gree Fall...*e Yaff Taya Me* |
Re: Banking Sector Profit Falls By 28% – Report by breakeven: 9:40am On Sep 23, 2016 |
Every thing is turning upside down. And Obama and Banki moon are telling us that the dullard is working. Maybe they know our country better than us . |
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