Rising interest rates, surging inflation and naira devaluation led to a 107 percent surge in impaired loans’ value in the books of nine out of 10 listed banks in the first nine months of 2024, according to data compiled by BusinessDay. A rising impaired loan is an indication that more loans are in the hands of borrowers who are having difficulties repaying them. The lenders involved are: Access Holdings Plc, Zenith Bank Plc, UBA, FBN Holdings Plc, Stanbic IBTC Holdings Plc, Wema Bank Plc, Sterling Holdco, Fidelity Bank, and Ecobank Transn
Rising interest rates, surging inflation and naira devaluation led to a 107 percent surge in impaired loans’ value in the books of nine out of 10 listed banks in the first nine months of 2024, according to data compiled by BusinessDay. A rising impaired loan is an indication that more loans are in the hands of borrowers who are having difficulties repaying them. The lenders involved are: Access Holdings Plc, Zenith Bank Plc, UBA, FBN Holdings Plc, Stanbic IBTC Holdings Plc, Wema Bank Plc, Sterling Holdco, Fidelity Bank, and Ecobank Transn