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Non-performing bank loans rise to N5t – NBS

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FUNDS trapped in non-performing loans granted by Nigerian banks rose to over N5.28 trillion in 2019.

  About N65.21 trillion loans was total amount granted by Deposit Money Banks (DMB) over the same period.

  The development is contained in Banking Sector Data report released yesterday, by National Bureau of Statistics (NBS).

  According to NBS, the banking sector gave out loans of N15.54 trillion out of which N1.67 trillion was classified as non-performing loans in the first quarter while the second quartre recorded about N15.48 trillion as loans to the economy, from which N1.44 trillion went into non-performing loans.

  In the third quarter of last year, about N16.62tn loan was advanced by banks to the economy out of which N1.1 trillion was categorised as non-performing loans.

  A further breakdown shows N17.56 trillion granted as loans to the real sector in fourth quarter from which N1.05 trillion is yet to be repaid.

  The report also gives total volume of transactions as 893.68 million valued at N48.54 trillion in the fourth quarter of last year. It equally stated that NIBSS Instant Payments transactions dominated the volume of transactions recording 342.63 million transactions valued at N29.69 trillion.

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