In consideration of the buoyant non-oil and services sectors, as well as private consumption, that are holding up credit demand in Nigeria, Fitch Ratings Limited says banks in the country should witness growth in 2015.
According to statement issued by the rating agency in London on Thursday, growth in sub-Saharan Africa should provide favourable conditions for the region's banks in 2015, despite the decline in commodity prices.
Credit growth is set to expand because there is strong demand for infrastructure financing and the private sector is buoyant.
These are likely to offset the threats from weaker commodity prices and heightened political risk and uncertainty, Fitch Ratings noted.
The agency stated that "Even banks in oil exporting countries, where low oil prices might be expected to trigger loan contraction, are experiencing continued credit demand.
"In Nigeria, buoyant non-oil and services sectors, plus private consumption, are holding up credit demand. Loan growth reached 25% in 2014."
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