No doubt banks have lots of areas they make huge funds legally, but if they sincerely play by the rules as they are supposed to, they won't earn those huge profits.

emmanuelewumi:


Interest income of over N400 billion

Donbrig:
I forbid the art of making money to the detriment of other people. My step mother worked as a bank manager for 8yrs in old generation bank, our banks are rogues, I don't want to go into details or argue. But I think we still have a lot of work to do in sanitizing our banking industry.

They are stealing billions from poor and helpless Nigerians every day, that's my fight and anger whenever they declare huge profits as if they have honestly worked hard for it.

Take life easy Sir.

Weldone.

Lazyyouth4u:


That net income on fees and commissions contains those small small charges na. It adds up and may be the difference between Oga Jim buying a new apartment in Dubai or NYC

But looking at the financials now, I see most of their money comes from the net interest income

Gross revenue is about N650 billion

emmanuelewumi:


Interest income of over N400 billion

But let’s think critically about it.

How are they able to make over NGN 400 bn in interest income in a very rough year where their huge oil and gas loans were having serious issues with low oil prices, where many of their retail loans had to be restructured because of Covid and EndSars, where real estate/hotel loans suffered as people didn’t have money to buy and hotels are empty.

We can’t even say Tbills as T Bill rates were on the low side in 2020

So ofcourse, some ‘work’ was done on the financials

I will Sir. It is sometimes annoying when we keep celebrating corrupt people and corporations. We've got to fix things in this country before it gets too late.

If we don't have a healthy country with honest people, forget those your investments or money you think you have, everything is rubbish, even if you manage to enjoy a bit of it, when you dead and gone, that same system you ignored because you were making money might ruin your children or family.

ukay2:


Take life easy Sir.

Weldone.

Lazyyouth4u:


But let’s think critically about it.

How are they able to make over NGN 400 bn in interest income in a very rough year where their huge oil and gas loans were having serious issues with low oil prices, where many of their retail loans had to be restructured because of Covid and EndSars, where real estate/hotel loans suffered as people didn’t have money to buy and hotels are empty.

We can’t even say Tbills as T Bill rates were on the low side in 2020

So ofcourse, some ‘work’ was done on the financials

I am waiting for Access, GTB, UBA and First Bank results to compare the trend. Those banks and Zenith are the 5 biggest banks in Nigeria.

Zenith Bank is the most profitable of them all

Work on the accounts keh, and pay dividends of over N90 billion and also pay corporate tax of about N35 billion

emmanuelewumi:



I am waiting for Access, GTB, UBA and First Bank results to compare the trend. Those banks and Zenith are the 5 biggest banks in Nigeria.

Zenith Bank is the most profitable of them all

Banks in other countries were hearing ‘ween’ in 2020 as a result of Coro pandemic, lockdowns and curfews while Naija banks are reporting huge profits and declaring dividends

Na wa o...

emmanuelewumi:
Work on the accounts keh, and pay dividends of over N90 billion and also pay corporate tax of about N35 billion

Like reporting lower impairment losses?? Make I just

Some of our big banks are mainly into money laundering, they launder money for our politicians and other corrupt African leaders. Lots of things are going on in our banking sector CBN won't even dare talk about, to protect the industry, if CBN should reveal the dirty dealings going on in our banks, our financial system will collapse within 24hrs.

As at today, money laundering is the world most profitable illegal business.

It is very difficult to see any fault in a system you are making lots of money, I have been there before, but we can't just continue like this..

Poor and helpless Nigerians should stop using the big banks, keep your money at home, do business with poor people's banks ie microfinance banks or better still fintechs.

Lazyyouth4u:


But let’s think critically about it.

How are they able to make over NGN 400 bn in interest income in a very rough year where their huge oil and gas loans were having serious issues with low oil prices, where many of their retail loans had to be restructured because of Covid and EndSars, where real estate/hotel loans suffered as people didn’t have money to buy and hotels are empty.

We can’t even say Tbills as T Bill rates were on the low side in 2020

So ofcourse, some ‘work’ was done on the financials

It's been said here Nigerian banks have mastered the art of making money in Nigeria.

Yes, internet banking and other channels were used.

For those who have the liver, United Capital an Investment Banking firm is giving out margin trading loans of between N5 million to N100 million to their interested clients for trading in the stockmarket.

emmanuelewumi:
Poor and helpless Nigerians should stop using the big banks, keep your money at home, do business with poor people's banks ie microfinance banks or better still fintechs.

Lazyyouth4u:


Banks in other countries were hearing ‘ween’ in 2020 as a result of lockdowns and curfews while Naija banks are reporting huge profits and declaring dividends

Na wa o...

Lockdown was only in Lagos Abuja and Ogun state..... Other states were buzzing with activities

Be careful of d news

emmanuelewumi:
For those who have the liver, United Capital an Investment Banking firm is giving out margin trading loans of between N5 million to N100 million to their interested clients for trading in the stockmarket.

If u sure of ur trading tactics....

Put ur money where ur mouth is.......

I can now see why Nugerians prefer to borrow from friends and relative......there is option for stories that touches


Who will hear this stories at United capital, then go just wipe ur stock collateral

emmanuelewumi:
For those who have the liver, United Capital an Investment Banking firm is giving out margin trading loans of between N5 million to N100 million to their interested clients for trading in the stockmarket.

falcon securities come to mind ....

today's rate pls

maishai:


Lockdown was only in Lagos Abuja and Ogun state..... Other states were buzzing with activities

Be careful of d news

Lockdown only in Lagos, Abuja and Ogun States? Are you being serious Anyway, no comment

Lazyyouth4u:


Lockdown only in Lagos, Abuja and Ogun States? Are you being serious Anyway, no comment

At the initial stage

Donbrig:
Some of our big banks are mainly into money laundering, they launder money for our politicians and other corrupt African leaders. Lots of things are going on in our banking sector CBN won't even dare talk about, to protect the industry, if CBN should reveal the dirty dealings going on in our banks, our financial system will collapse within 24hrs.

As at today, money laundering is the world most profitable illegal business.

The current CBN Governor was the MD of Zenith bank when Zenith bank was accused of financing Fayose's 2nd Term election. That is just one state that we know of.

Up

hustla:



Bro, what's the actual difference between bt*c and USDT?

I see a lot of people saying man should buy usdt as against actual bt*c

In lay man terms, USDT is fixed while BTC changes in value.

So 1 USDT costs 1 USD and will always remain so.
But 1BTC may cost 10 USD today and 3,000 USD tomorrow.

Usually, people that just want preservation of wealth against a devaluing local currency (e.g Naira) but are scared to enter cryptocurrencies like BTC, ETH, we always advise them to buy stable coins like USDT, USDC or BUSD.

Oga relax, do not be too confrontational in your discuss toned down a bit . she is just telling you how the credit system works No one is fighting anyone
we are here to learn oga sah.

ahiboilandgas:
I don't have energy to argue it doest add any kobo to my account...my only thing is the refinery should be operational so i can have product to sell .....how they arrange their finance no concern me ...or how much is in their accounts.. banks chasing you for consumer loan is not a big deal they even chase local govt workers to their graves with consumer loan ....the real G get business loans not consumer (whom how to consume) on credit is still the issue.......imagine a marketer that buy 1m litres of Ago weekly bank will not advance consumer loan to him to buy phone or car but business loan based on his cash flow...not salary ....10m naira consumer loan cannot couple a single truck self...

maishai:


If u sure of ur trading tactics....

Put ur money where ur mouth is.......

I can now see why Nugerians prefer to borrow from friends and relative......there is option for stories that touches


Who will hear this stories at United capital, then go just wipe ur stock collateral

You can't owe United Capital, you must pay back, your shares are the collateral security.

All the loans I have gotten from the banks in the last 16 years, I used my shares as collateral securities

ahiboilandgas:
Up

In my own opinion still not favourable

emmanuelewumi:



You can't owe United Capital, you must pay back, your shares are the collateral security.

That’s exactly what he was saying when he said ‘‘Who will hear this stories at United capital, then go just wipe ur stock collateral’’

For those people that don’t understand why billionaires with lots of money still go to take loans from banks, let me show a basic example of how OPM works. You can thank me later

Case A : Business man has a project of USD40m. Instead of carrying out the entire project with his own money, he goes to the bank to borrow USD30M and then puts only USD10M of his own money. The project succeeds and earns USD100M profit. He pays back USD40m (USD30m principal plus USD10m interest). The remaining USD60m is his profit. So he basically makes 6x his money back (6 multiplied by the USD10m invested). Neat profit. If business fails, he only loses USD10m.

Case B : Business man puts all the capital of USD40m and takes nothing from the bank. Project succeeds and earns same USD100m. He has no loans to pay. The entire USD100m profit is his. But wait a minute. He only makes 2.5x his money back (2.5 multiplied by the USD40m invested). Neat profit but less gain on money invested. If project fails, he loses the entire USD40m and possibly goes bankrupt

Lesson learned about OPM: most big business men would rather put the least money required to enhance profit and minimize their risk. Nobody will risk their entire net worth in business when they can use Other People’s Money to minimize risk and make higher profits on the money they invest.

In case A when business fails, he is still liable to the bank for $30 million capital, most banks can only offer no interest repayment plan, you are responsible for the success and failure of your business.

Lazyyouth4u:
For those people that don’t understand why billionaires with lots of money still go to take loans from banks, let me show a basic example of how OPM works. You can thank me later

Case A : Business man has a project of USD40m. Instead of carrying out the entire project with his own money, he goes to the bank to borrow USD30M and then puts only USD10M of his own money. The project succeeds and earns USD100M profit. He pays back USD40m (USD30m principal plus USD10m interest). The remaining USD60m is his profit. So he basically makes 6x his money back (6 multiplied by the USD10m invested). Neat profit. If business fails, he only loses USD10m.

Case B : Business man puts all the capital of USD40m and takes nothing from the bank. Project succeeds and earns same USD100m. He has no loans to pay. The entire USD100m profit is his. But wait a minute. He only makes 2.5x his money back (2.5 multiplied by the USD40m invested). Neat profit but less gain on money invested. If business fails, he loses the entire USD40m and possibly goes bankrupt

Lesson learned about OPM: most big business men would rather put the least money required to enhance profit and minimize their risk. Nobody will risk their entire net worth in business when they can use Other People’s Money to minimize risk and make higher profits on the money they invest.

Tobex4realTobex234:


In lay man terms, USDT is fixed while BTC changes in value.

So 1 USDT costs 1 USD and will always remain so.
But 1BTC may cost 10 USD today and 3,000 USD tomorrow.

Usually, people that just want preservation of wealth against a devaluing local currency (e.g Naira) but are scared to enter cryptocurrencies like BTC, ETH, we always advise them to buy stable coins like USDT, USDC or BUSD.

Omo God go bless you x 200 for this explanation

Thanks!!