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Maintaining its Monetary Policy Actions, CBN Cuts OMO, Primary Market Auctions to N2 99trn
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Naira strengthens 0 58% to N512/$ as Traders see more clarity on CBN s new policy
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Exchange raises over N4 7 trillion through fixed income in H1
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Coronation Asset Management releases 2021 Bank Report
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Dike Onwuamaeze
A report on the Nigerian banking sector has stated that the current phase of rising interest rates in the Nigerian financial market will not pose challenge to the sector.
It also warned that the banking sector should not be complacent to the threat posed by financial technology companies (fintechs) on its profitability and growth.
The report, which was released Monday by Coronation Asset Management (CAM) with the title, âNigerian Banks, Resilience Built-In,â showed that the Nigerian banking system has been resilient over the interest rate cycle, adding that its profitability has improved over time while the stock values of Nigerian banks have remained remarkably cheap compared to their counterparts in Ghana and Kenya.