Written by Sarah NEGEDU

Non-performing loans drop 116bn in 4months

The volume of non-performing loans in the banking sector dropped from N1.792trillion at the end of 2018, to about N1.676trillion as March 2019.

According to the National Bureau of Statistics, the ratio of the non-performing loans to total loans was 10.83 percent, while non-performing loans to total loans after specific provisions was 12.2 percent.

Latest figure from the bureau shows that gross loans recorded in the banking sector stood at N15 .480trillion, while the loans after specific provisions stood at N13.739trillion in the period under review.

The statistics office also reports that about 3, 891 firms and other debtors took individual loans above N1billion, totalling N13.19trillion of loans in the banking sector.

It stated that the total loans in the banking sector stood at N1.35trillion as of the end of March.

A breakdown of loan figures in the banking sector, 1,205 debtors who had collected loans between N500million and N1billion currently owed banks N744.72billion.

Another 4, 441 debtors are said to be owing banks between N100million and N500million each; while 3,486 debtors who took loans of between N50million and N100million owed banks N229.56billion.

According to statistics, 17, 883 debtors who took loans of between N10million and N50million owed banks N382.6billion, while 87, 485 debtors who took loans of between N 1 m and N10 million owed banks about N286.98billion.

In the data, 2.2 million debtors who took loans up to N1 m owed banks N122billion.

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