Enterprise Television- 9 Banks Battle Decline In Interest Income
Nine banks in Nigeria are battling with the risk of N300 billion decline in their interest income in the 2018 financial year.
Enterprise Television gathered thatt this is due to declining yield on government securities.
The banks are Stanbic IBTC, Fidelity Bank, Guaranty Trust, Access Bank, Zenith, UBA, FBN Holdings (FBNH), Diamond Bank and FCMB.
Following the decision of the Federal Government to restructure its debt portfolio, by replacing domestic loan with foreign loan, the Central Bank of Nigeria (CBN) commenced a gradual reduction in yields on treasury bills.
The banks however pointed to other factors that will help moderate the impact on their interest income.