Nigerian banks customers in search of funding have so far borrowed from 11 commercial banks, totaling N21.1 trillion as of the end of 2021. The current level is an N2.9 trillion or 16.2% increase when compared to the N18.2 trillion the loans and advances stood in 2020.
The 11 banks surveyed are First City Monument Bank (FCMB), Guaranty Trust Holding Company (GTCO), Zenith Bank, Wema, Unity, United Bank for Africa (UBA), Sterling Bank and Stanbic Bank, Eco Bank, Unity Bank, Fidelity, and Access Bank.
Breakdown of the data shows Access Bank, Ecobank Transnational Incorporated (ETI) and Zenith Bank Plc gave out the highest loans and advances with N4.16 trillion, N4.06 trillion, and N3.35 trillion respectively United Bank of Africa loans to customers hit N2.68 trillion while Fidelity’s bank loan of N1.5 trillion completed the top five.
Breakdown of the data shows Access Bank, Ecobank Transnational Incorporated (ETI) and Zenith Bank Plc gave out the highest loans and advances with N4.16 trillion, N4.06 trillion, and N3.35 trillion respectively United Bank of Africa loans to customers hit N2.68 trillion while Fidelity’s bank loan of N1.5 trillion completed the top five.
The figures are according to the analysis of the banks’ 2021 financial year results submitted to the Nigerian exchange.
