Commercial Banks in Nigeria
Aggregate assets of Nigerian commercial banks grew by approximately 11% between 2012 – 2016 to reach NGN 31.7 trillion. This performance was strengthened by the growth in bank loans (~14%), particularly benefiting the Oil & Gas sector. On the liabilities side, bank deposits grew by approximately 9% between 2012 – 2016 driven by the foreign currency and saving accounts.
Commercial Bank’s Total Assets (NGN billion)
Aggregate assets of Nigeria’s commercial banks registered an annual growth rate of 10.45% over the 2012 – 2016 period, totaling NGN 31,683 billion by the end of 2016.
*Central Bank of Nigeria – 2016 Statistical Bulletin – Financial Statistics
Commercial Bank’s Total Loans (NGN billion)
Total claims grew by 13.7% annually between 2012 – 2016, to stand at NGN 21,170 billion by the end of 2016. Claims on the private sector totaled NGN 15,856 in 2016, accounting for 75% of total loans.
Aggregate Bank’s Credit Distribution by Corporate Sector in 2016
The Oil & Gas sector was the largest recipient of loans in 2016 (30.02%), followed by the manufacturing (13.59%) and government (8.45%) sectors.
Commercial Bank’s Total Deposits (NGN billion)
Total deposits increased by 8.69% annually over the last 5 years, to reach NGN 18,327 billion in 2016. Although demand deposits continue to be the main component of total deposits (34% in 2016), foreign currency and saving accounts stand as the top contributors to the 2012 – 2016 growth, with NGN 1,844 and NGN 1,657 respectively.
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