THE WHAT? Coronation Asset Management has released a report revealing that Nigerian banks have responded well to the pressures of the pandemic and have proved resilient, according to a report published by Ventures Africa.
THE DETAILS The report is the culmination of a decade-long study of the margins and profitability of six Nigerian banks, namely Zenith, GT, Access, FBN, UBA and Stanbic.
THE WHY? With the Naira volatile, performance over several past interest rate cycles can indicate how the banking industry is fixed to respond to future crises. Investors can rest easy in the knowledge that Nigerian banks have weathered many a storm in the past and seen an improvement in profitability over time.