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Redfox (m)
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Market report today stated that only four Nigerian banks are strong.A WILD SCENARIO WHICH IS ATTRIBUTED TO THE STOCK MARKET CRASH,INCONSISTENCIES IN THE OIL SECTOR AND A HUGE PUBLIC SECTOR DEBT DEFAULTS the strong banks are diamond bank first bank GTbank Skye bank the rest are rated as either satisfactory, shaken or stressed.the stressed banks include first inland bank spring bank unity bank and wema bank the report stated that these four banks are "on the ropes" and might either "sink" or be "swallowed by other banks" access,ecobank, FCMB, intercontinental(happy bank,sad customers   ), oceanic, sterling and union banks are shaken and the rest are rated satisfactorya world bank report indicated that 10bn USD or half of all the banks' holdings were "tied up in questionable assets"  |
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babalawo (m)
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Hello,
Thanks for this info .Pls where is your source!
Thanks
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squad1
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Its true, i saw it as an headline news today (punch),
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aristocrat (m)
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red fox or wat are u called? u are damn very stupid 4 displaying such an information. do dey mean those other banks are shaking or what ?if u cant read and understand pls go back 2 school.idiot
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ezinne1212 (f)
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Market report today stated that only four Nigerian banks are strong.A WILD SCENARIO WHICH IS ATTRIBUTED TO THE STOCK MARKET CRASH,INCONSISTENCIES IN THE OIL SECTOR AND A HUGE PUBLIC SECTOR DEBT DEFAULTS the strong banks are diamond bank first bank GTbank Skye bank the rest are rated as either satisfactory, shaken or stressed.the stressed banks include first inland bank spring bank unity bank and wema bank the report stated that these four banks are "on the ropes" and might either "sink" or be "swallowed by other banks" access,ecobank, FCMB, intercontinental(happy bank,sad customers ), oceanic, sterling and union banks are shaken and the rest are rated satisfactorya world bank report indicated that 10bn USD or half of all the banks' holdings were "tied up in questionable assets" Skye as a strong bank, i doubt it. first inland bank, spring bank, unity bank and wema bank have always been scape goats with the highlighted two often making headlines. |
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Cristalz (f)
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red fox or wat are u called? u are damn very stupid 4 displaying such an information. do dey mean those other banks are shaking or what ?if u cant read and understand pls go back 2 school.idiot
Was this necessary? Go easy,k? |
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BigBashiru
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@Cristalz
some people do show psychopatic tendencies,
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DUNKA
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Your report must be fake. OCEANIC and UNION BANKS not strong? I dont think so Then for strong banks you put SKYE & DIAMOND the source must be a paid source. I beleive Nigerians know the strong and weak banks in the country |
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Redfox (m)
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@aristocrat at first glance, u strike me as a moron,in fact it is your father and mother that are stupid.if u were educated and sound in mind u would have done your research before posting a reply like that.where did u graduate from,u must be the poorest student in your class.i can feel it.olukwu. @dunka and ezinne1212 and babalawo punch newspaper,page 2 of 30th June,2009 or do a Google research on world financial reports in Nigeria.and @ezinne1212 why would u inquire into the potency of the situation without research.all question(s) should be directed to the Nigerian financial market and world bank. @dunka and ezinne 1212 u should have your doubts,but i am not the one who wrote the piece in the punch newspaper neither am i a member of the world bank.besides all the t glitters are not gold so i advice that the only way you can seek answers is to inquire into the parameters and benchmarks used to evaluate this banks especially profit after tax not before tax,liquidity base and ratio,excess reserve and others as a direct result of the global financial crisis that began 2years ago.as an economist,financial and economic variables tend to fluctuate overtime due to external shocks and that could cause a structural change.economic decision makers,market watchers and speculators didn't realize the effect of inertia not until strong and stable financial institutions like northern rock in the UK,Fannie Mae,Merill lynch and AIG all in the US fell out of the market with only a FG bail-out plan and stimulus plan to hope on. if u are in the field, u would understand that no bank would want to show the consumers that all is not well.some will say happy bank,happy customers,big strong reliable(old prestige) all in the vain of staying afloat.all those income statements and balance of sheet being published on the dailies are inverse reflections of inn-thing, i could go on and on because the debate has not even started yet. @All only sound minds are welcome to make comments,not illiterates like aristocrat Au revoir. |
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ilugunboy (m)
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Market report by who?. Na today?.
They want to start an unnecessary panic which I believe our system don't need now. Even in their own countries, shit happens that never get reported by them.
We should not help to amplify this type of reports by some foreign based institutions that don't wish us well.
Am sure when stuffs start happening, everbody will be affected including the megaphones here.
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gbainde
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First bank will always be there no doubt. The bank with sound corporate governance no matter how speculative other banks goes to drive virtual profits, First bank still holds the ace as the number one whatever indices we religiously look at.
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aristocrat (m)
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red fox u must b very stupid, wat av i said to warrant raising abusive languages on my parents? dat shows d kind of home u are being brought up. any way wat am trying to say is dat dey never mean other banks will colapse or dey are not strong.besides dis fact, these other 4banks bribe there way out to b the first four.try and get dis information into your fucking damn skull. i am a banker and i know wat it takes for a banks name should b ringing in dis competitive market. so go to blazes.
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Redfox (m)
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u are a banker i am a financial|investment analyst.who even employed u? how did u get in?your English is irritating,your understanding of the financial market is hollows and lacks depth.don't flatter yourself any longer because are not qualified to speak of issues like this.
I also advise that you learn how to use languages and rhetorics to drive home your point.didn't you use the word stupid in your first post? maybe you don't read what you write, that act can only be ascribed to an educated illiterate.we have so many of them as graduates and i think you are one.
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aristocrat (m)
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I CAN NOW SEE HOW CRAZY AND STUPID U ARE, WELL IT WASNT your FAULT IF NOT FOR D SITE DAT ALLOWED U TO REGISTER AT D INITIAL STAGE.PEOPLE LIKE U ARE NOT SUPPOSED TO B ALLOWED ON NL, PLS WHENEVER U WANNA POST TRY AND POST WITH your SENSES.
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aristocrat (m)
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WAO ALL DIS WHILE I WAS THINKING U ARE A LADY COS LADIES SOUND SO SUCCY AT TIMES NOT KNOWING U ARE A GUY JUST LIKE ME. ITS RIDICULOUS CHATING WITH AN OLD AND UGLY BEAST LIKE U. GUY GO TO HELL. DONT U KNOW your PICTURE IS D MOST UGLY PICTURE ON NAIRALAND, AND U ARE NOT EVEN ASHAMED OF UPLOADING your PICTURE, I BELIEVE DAT IS D BEST PICTURE U TOOK N D HISTORY OF your LIFE. OLD FOOL.
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Redfox (m)
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@aristocrat
You talk like a bitch,you lack composure and precision when you write.for heaven sake,where are your manners that you can't even apologise for using foul languages.i wish i could hep you out with the psychological cum complex problem(s) you are facing.
Please go and meet a guidance and counselling professional or a clergyman and besides why is it that "stupid" is the only vocabulary you have at your disposal,weren't you taught during your secondary days that it is misnormal to use same term at intervals?
My picture does not only refelct beauty in a man but confidence.if you had any one of these you would readily boast about it.
MODERATOR, PLEASE ISSUE A QUERY TO ARISTOCRAT,WE CAN'T AFFORD TO HAVE LUNATICS AND SONS OF BITCHES,WHO DON'T HAVE RESPECT FOR THEIR SUPERIORS. FOR CLARITY,YOU CAN REVIEW THE POST SO FAR.
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WildOne (f)
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red fox or wat are u called? u are damn very stupid 4 displaying such an information. do dey mean those other banks are shaking or what ?if u cant read and understand pls go back 2 school.idiot
@ aristicrat, I think u fired the first salvo in this public display of shame. If u are truly a banker, then the proffession is the poorer for it. @Redfox, cool it now. It takes two to tango, u know. |
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Nezed (f)
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Dear Redfox and Aristocrat,
O' my dearest brothers,why the fighting and name calling?
The issue been debated here is that of an analysis given by Market report which Red fox brought to our notice either for us to argue for or against the motion that some of our dearly beloved banks are not strong or are distressed.
Aris-tee, redfox was not the originator of the comment/findings, he only brought it to our notice and he even went further to lay out his source of info(punch newspaper,page 2 of 30th June,2009).
Aristee, u shouldnt have used such strong language in your first post, though i feel u are a banker and may have felt slighted by that findings as your bank might be very strong and was listed otherwise. Not to worry, we all know the scenario in Nigeria were awards and ratings are given to institutions/persons thet we feel are 'less deserving' and keeps u thinking all thru the night about were and when such research was carried and the authencity.
Redfox, u may have been angered by Aristee comments, but u need not go down to his folks and engage in verbal artistry as u may have simply pointed out his strong words and taken exception to it or call the attention of the moderator(s).
Having said that dear brothers, let bygones be bygones and lets all contribute positively and intellectually to this 'research findings by Market report/world bank' and either agree to their findings, or tell 'em to go FCUK OFF!
Let the debate begin!
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Redfox (m)
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@wildone and nezed You galz are ladies of substance.am glad you understood the post.beside a successful man lies a woman vice versa.maybe that could be the cause of the exchange, am cool  |
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Nezed (f)
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Well, methink that First bank cannot be disputed as been strong as even CBN and 'blind Bartimaeus' know that!
The other three(3) i have no fact or knowledge to agree or disagree to their inclusion in that rating.
But Oceanic bank shaking? Holy mother!
Intercontinental, i dnt really knw but back den in naija-like 2yrs ago, they were like the Bomb, had this happy bank logo or sumfin and everybody wanted to open an account with 'em or get a job there and their staff were kind of 'Bigz boys and galz'-i dunno if its still same today (though i wouldnt be surprised to learn that some financial reports/records of banks are doctored).
Let those in the know come in and throw some enlightenment on this some banks are strong, weak, shaking, and might be swallowed by other banks-i find this last category especially funny gist cos i can still remember sumtime in the past how some banks went under are some piple till 2day aint recovered their Gees while some departed to the yonder as they couldnt bear the loss. we dnt want dat happening again, u knw, this piple work damn hard for their money for chrissake,
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Redfox (m)
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the whole scenario is indeed worrisome especially at this time when the monetary authority is trying to restore confidence to the once truncated stock market.personally,i woner why the chief regulatory authorities such as CBN and NDIC
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Redfox (m)
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The whole scenario is indeed worrisome especially at this time when the monetary authority is trying to restore confidence to the once truncated stock market.personally,i wonder why the chief regulatory authorities such as CBN and NDIC have not made any comment in response to the foreign report,isn't that a bit suspicious going for the fact that the governor is a fundamentalist and has shown 3wks ago that that he can't play politics with the truth-damn the consequences.
I was particularly surprised to see intercontinental and oceanic banks in the nibble and shakey side.though like (nezed) you rightly pointed out most annual and financial reports are doctored to suit the corporate image of those banks.we saw what happened to northern rock,AIG,fannie mae and the like.last year November the CBN pumped 1.7 trillion about into the bank financial institutions providing them with credit facilities, all to shield them from external shocks.
why aren't they saying anything.
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Finecat (m)
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Well, methink that First bank cannot be disputed as been strong as even CBN and 'blind Bartimaeus' know that!
The other three(3) i have no fact or knowledge to agree or disagree to their inclusion in that rating.
But Oceanic bank shaking? Holy mother!
Intercontinental, i dnt really knw but back den in naija-like 2yrs ago, they were like the Bomb, had this happy bank logo or sumfin and everybody wanted to open an account with 'em or get a job there and their staff were kind of 'Bigz boys and galz'-i dunno if its still same today (though i wouldnt be surprised to learn that some financial reports/records of banks are doctored).
Let those in the know come in and throw some enlightenment on this some banks are strong, weak, shaking, and might be swallowed by other banks-i find this last category especially funny gist cos i can still remember sumtime in the past how some banks went under are some piple till 2day aint recovered their Gees while some departed to the yonder as they couldnt bear the loss. we dnt want dat happening again, u knw, this piple work damn hard for their money for chrissake,
I'm not surprise at the report but let's becareful with the report. As much as i don't like Nigerian banks, i think the report is preposterous and i suspect the foreign investors who are interested in buying some Nigerian at a cheap rate. Intercontinental bank stinks and they are edging on the side of colapse. They just cut their staff salary by %20 and i'm even hearing that they are having difficulty paying some staff benefits and renumerations. The bank bit more than it can chew and has begun to choke. Mark my words, i would be highly surprise if the bank doesn't merge with another bank before December. There is a high possibility they will be eaten by another bank. |
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Nezed (f)
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Fine cat, u kidding me huh? [ b]They just cut their staff salary by %20 and i'm even hearing that they are having difficulty paying some staff benefits and renumerations[/b Omeegodd! InterC on the edge of collapse? Am so surprised, honestly back in the days it used to be graduate's delight for a work place. My cousins who where in InterC(dat was hw they calld it in my hse then) wldnt let us hear word with their plenty yarns! I hope all other naija banks aint secretly failing too o, cos i cant imagine hw many graduates wld be jobless if they do, Minwhile,pls is Afribank still in Naija? Used to be one back i soooo hated back then in Nig. |
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blissieng (f)
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@Poster Did u just mention Skye? was that a typo? What!!!! that excuse for a bank? If I was vindictive I'd really spoil market 4 those ppl o! they should thnk God. Skye? even typing it leave a bad taste in my mouth! |
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blissieng (f)
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I'm so annoyed! Skye bank should be seriously fined!
and why is debiting an account such a big thing? is this same in all the banks in Naija? that'll be reaLLY pitiful 2 say the least.
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aristocrat (m)
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they are not the same
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Redfox (m)
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@blissieng
Its amazing no doubt but I underwent a similar experience at intercontinental bank last week,according to the report skye bank listing was definitely not a typo.
@all
Just yesterday(vanguard newspaper), the CIBN condemned the report saying that it was meant to cause panic,but I believe that before the report was made public that the system was generally unstable and showing sensitive but neglectable signs of danger,following the growth indices of the first and 2nd quarter of the year.in lieu,people should be advised not to panic as this would stimulate and aggravate the problem.
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cooldudeng (m)
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Just thought i should drop some few lines. I think we should all wait for CBN and NDIC comments. What we don't need now is a bank run, cos it's going to have a ripple effect on our economy.
@artistocrat if truly you are a banker, you'll know that banks like Firstbank and Gtbank won't pay people just to be named a strong bank.
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adamawa
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check BANKER"S rating to know the true strenght of banks in Nigeria.TAR report lacks credibility
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hollandis
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Even forbes have their ranking,as far as I am concerned all rankings by forbes and TAR. which does not rank based on Tier 2 capital but Tier 1 only are inconclusive.Tier 1 capital includes equitty e.g shareholders ,interest n equity e.t.c but the main ranking is based on Tier 2 capital which includes undisclosed reserves ,revaluation reserves,general loan loss reserves and hybrid debt.
They have said it all
The best 4 banks in Nigeria are
1. Diamond
2.GTB
3.First bank
4.Skye Bank
All the other "not too healthy" banks are pretenders ,then those hausa banks did not meet up to consolidation terms,but because of soludo compromise they did
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