The report lists the undercapitalised banks as
“Unity Bank and Skye Bank are close to being insolvent, while lenders, FBN Holdings Plc and Sterling Bank Plc, will need a dilutive capital hike,” it added.
The investment bank said the Nigeria’s banking industry “is experiencing a full-blown financial crisis” as failed fiscal and monetary policies had led to a credit crunch.
The affected banks have however refuted the report.
First Bank Spokesman, Mr. Babatunde Lasaki, said, “First Bank is not undercapitalised. We are still within the industry regulatory threshold. This is their opinion. Our position has been published in our half-year report; it is not the one from an investment bank or a speculative report. Our Q3 report will soon be published.”
Ikechukwu Mike Omeife, a spokesman for Diamond Bank said, “Our bank is strong. Our capital-adequacy ratio and non-performing loans are within the statutory requirements.” PLACE YOUR TEXT ADVERT BELOW:>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> How I Made Me =N=2.5 MILLION In 7 Days from 2 Common Product I Imported and how you can do the same. Click HERE FOR FREE Details right now Warning To Men: This 3 Foods Is Killing Your Erection. Click Here To Know Them Secret Fruits that increased my Manhood and makes me last 55 minutes+ all time - Click here to get it Warning: Got Arthritis? 3 Simple Ways To Get Cured And Be Permanently Free From Joint Pains. Click Here To See Them REVEALED!! Reduce Your Blood Sugar Level And Reverse Diabetics Within A Short Period Of Time. Click Here To See How MIDNIGHT,Pressed Mr Kilanko Suddenly Couldn't Urinate. Shrink your Enlarged Prostrate Here! Click Here Now