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Wema Bank Remain Impressive Amid Challenges thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
Three members of the CBN’s Monetary Policy Committee proposed a rate hike citing several factors including Nigeria’s galloping inflation rate. Their decisions contradict those held by other members of the committee who voted for a continuation of the current monetary policy rate of 11.5%. This was contained in the personal statement of members of the Monetary Policy Committee (MPC) in the meeting held on the 22nd and 23rd of March 2021. The decision to hold the rate steady was not unanimous as three out of the nine members voted to increase rates. These disconnects from the majority took their stand as a result of inflationary concern facing the Nigerian economy. ....
A recent review of the status of Nigeria’s banking industry at the backdrop of the adverse impact of COVID-19 on the overall economy has indicated sound fundamentals. But the policy powerhouse of the apex financial regulatory authority also hinted of some downside risks and weak links. Vanguard’s analysis of the financial performance of the leading banks in Nigeria indicated a significant drop in revenue and profitability on industry-wide scale. However, the personal positions of members of the Monetary Policy Committee, MPC, of the CBN has given a near-clean bill of health to the industry, while pointing to some red flags in the first quarter of 2021. ....
BPI net income shrinks 22% to P5 billion in first quarter mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
The Reserve Bank Of India (RBI) stated yesterday that the framework on countercyclical capital buffer (CCyB) was put in place by the Reserve Bank of India in terms of guidelines issued on February 5, 2015 wherein it was advised that the CCyB would be activated as and when the circumstances warranted, and that the decision would normally be pre-announced. The framework envisages the credit-to-GDP gap as the main indicator, which may be used in conjunction with other supplementary indicators like Credit-to-Deposit Ratio, Industrial Outlook Assessment Survey, Interest Coverage Ratio, and Asset Quality. Based on the review and empirical testing of CCyB indicators, it has been decided that it is not necessary to activate CCyB at this point in time. ....