As is typical, the Nigerian banking sector has been clogged with various activities this year, such as the increase in interest rate, acquisitions and establishment of new subsidiaries, limited credit creation ability (due to the heightened macroeconomic uncertainties and increase in cash reserve ratio), and mixed investors’ sentiment towards the banking tickers. However, amidst these events, the banks have remained resilient, as they consistently seek initiatives to create value for stakeholders and play a pivotal role in driving the Nigerian economy. In this report, we discussed the industry’s regulatory environment and recent corporate actions, assessed the financial performance of our coverage banks, analyzed investors’ sentiment towards the tickers, and highlighted opportunities for investors.
Kindly find attached the full report.
