Only 3 banks are on my list:
- Stanbic IBTC
- GTBank
- Standard chartered
Access bank would have made the cut but the recent loss of their leader is concerning.
Topic: Bank recapitalization: 17 out of 24 banks may not meet CBN requirement (Read 94 times)
March 23, 2024, 08:26:55 PM
The banks failed Nigerians that's why I'm not surprised at this news. If anything, banks chased their customers away with someone unethical practices, poor infrastructure (you could be in dire need of access to your account and won't get it for hours, days or even weeks) and security issues in the past. Before, it used to be the case that you'll keep money in your bank account and have zero worries. These days, it's no longer the case. We can't count the number of cases where funds were lost outright or debited without refunds from banks. Fintech banks are not perfect but they get the job done.
Only 3 banks are on my list:
Access bank would have made the cut but the recent loss of their leader is concerning.
Only 3 banks are on my list:
Access bank would have made the cut but the recent loss of their leader is concerning.
March 22, 2024, 05:30:28 AM
I think the commercial banks that can afford the new proposed capital base are Access, Zenith, UBA, Ecobank, First Bank, GTB and maybe stanbic IBTC.
I don't know how you arrived at the conclusion that most Nigerians have migrated to using Opay, Palmpay, Moniepoint etc. They're not commercial banks, they're mobile money operators and they cannot render some of the services commercial banks do. Also, let me ask you this question, if you've 10M naira, would you keep it in any of the above mentioned platforms? I believe most persons will not and one of the major reason is security concern, a thief can easily use your SIM card to access and sweep your account.
Nigerians have migrated to using fintech banking system which to a large extent has reduced the usage of conventional Banks. OPAY, MONIEPOOINT, Kuda etc.
There's no doubt about the fact that we still need them around, but for me I think their services are too slow compared to the new generational Banks especially online banks we have now.
There's no doubt about the fact that we still need them around, but for me I think their services are too slow compared to the new generational Banks especially online banks we have now.
I don't know how you arrived at the conclusion that most Nigerians have migrated to using Opay, Palmpay, Moniepoint etc. They're not commercial banks, they're mobile money operators and they cannot render some of the services commercial banks do. Also, let me ask you this question, if you've 10M naira, would you keep it in any of the above mentioned platforms? I believe most persons will not and one of the major reason is security concern, a thief can easily use your SIM card to access and sweep your account.
March 20, 2024, 01:52:47 PM
In 2004, under the leadership of the then CBN governor, Charles Soludo, a major reforms took place in the banking sector. The capital base was increased from 2 billion naira to 25 billion naira, and this led to series of merger and acquisition and brought about the total number of banks in 2004 from 89 to 25. Currently, the capital base are categorized into three; banks with regional, national and international license are required to have 10 billion naira, 25 billion naira and 50 billion naira respectively.
Well, the recent development is that the banking sector is about to undergo a recapitulation exercise again. At the moment there's no clear information about the new capital base, but it is estimated to be a 15 - fold increase that will trim down the number of banks further.
If the report is to be correct, that 7 out of 24 banks are going to have the required capital base to still be operational, which banks do you think are going to make the list and why?
• https://dailytrust.com/bank-recapitalisation-17-out-of-24-banks-might-not-meet-cbn-capital-requirements-report/#google_vignette
• https://www.google.com/amp/s/punchng.com/only-seven-banks-can-meet-cbn-recapitalisation-requirements-report/%3famp
Well, the recent development is that the banking sector is about to undergo a recapitulation exercise again. At the moment there's no clear information about the new capital base, but it is estimated to be a 15 - fold increase that will trim down the number of banks further.
Quote
A new report from Ernst and Young estimates that 17 out of 24 banks might not meet the capital requirement from the CBN if it is increased 15-fold from its current N25 billion.
If the report is to be correct, that 7 out of 24 banks are going to have the required capital base to still be operational, which banks do you think are going to make the list and why?
• https://dailytrust.com/bank-recapitalisation-17-out-of-24-banks-might-not-meet-cbn-capital-requirements-report/#google_vignette
• https://www.google.com/amp/s/punchng.com/only-seven-banks-can-meet-cbn-recapitalisation-requirements-report/%3famp
UBA
Zenith Bank
Access Bank
TajBank
FCMB
POLARIS Bank
And maybe fertility Bank,
are the few banks I know that might survive it because they have huge capacity and profit margin, you can check their yearly profit.
however I think all of these is no longer necessary as most Nigerians have migrated to using fintech banking system which to a large extent has reduced the usage of conventional Banks. OPAY, MONIEPOOINT, Kuda etc.
There's no doubt about the fact that we still need them around, but for me I think their services are too slow compared to the new generational Banks especially online banks we have now. Banks like, unity Bank, Eco Bank, union Bank, and some i cannot remember need to either get a merger or recalibrate their services because it's very poor.
March 20, 2024, 06:57:00 AM
In 2004, under the leadership of the then CBN governor, Charles Soludo, a major reforms took place in the banking sector. The capital base was increased from 2 billion naira to 25 billion naira, and this led to series of merger and acquisition and brought about the total number of banks in 2004 from 89 to 25. Currently, the capital base are categorized into three; banks with regional, national and international license are required to have 10 billion naira, 25 billion naira and 50 billion naira respectively.
Well, the recent development is that the banking sector is about to undergo a recapitulation exercise again. At the moment there's no clear information about the new capital base, but it is estimated to be a 15 - fold increase that will trim down the number of banks further.
If the report is to be correct, that 7 out of 24 banks are going to have the required capital base to still be operational, which banks do you think are going to make the list and why?
• https://dailytrust.com/bank-recapitalisation-17-out-of-24-banks-might-not-meet-cbn-capital-requirements-report/#google_vignette
• https://www.google.com/amp/s/punchng.com/only-seven-banks-can-meet-cbn-recapitalisation-requirements-report/%3famp
Well, the recent development is that the banking sector is about to undergo a recapitulation exercise again. At the moment there's no clear information about the new capital base, but it is estimated to be a 15 - fold increase that will trim down the number of banks further.
Quote
A new report from Ernst and Young estimates that 17 out of 24 banks might not meet the capital requirement from the CBN if it is increased 15-fold from its current N25 billion.
If the report is to be correct, that 7 out of 24 banks are going to have the required capital base to still be operational, which banks do you think are going to make the list and why?
• https://dailytrust.com/bank-recapitalisation-17-out-of-24-banks-might-not-meet-cbn-capital-requirements-report/#google_vignette
• https://www.google.com/amp/s/punchng.com/only-seven-banks-can-meet-cbn-recapitalisation-requirements-report/%3famp
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