Banking Sector |

Kenyan Central Bank Agrees to SBM’s Offer for Chase Bank

NAIROBI (Capital Markets in Africa) – Kenya’s central bank said it agreed to a deal in which SBM Holdings Ltd., the second-biggest lender in Mauritius, will purchase some assets of distressed Chase Bank Ltd. The offer will ensure the transfer of 75 percent of the value of deposits that had been locked in receivership and the retention of staff and branches of Chase Bank, which went under in April 2016. The lender has been under the…

Fitch: T-Bill Supply Slowdown May Hurt Nigerian Bank Profits

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LAGOS(Capital Markets in Africa) – Nigerian banks may find it more difficult to sustain profitability given the decline in net treasury bill (T-bill) issuance in Nigeria’s 1Q18 issuance programme, Fitch Ratings says. The slowdown in T-bill issuance marks a change of strategy as the government looks to increase its financing from external sources and longer-dated domestic issuances. Record T-bill issuance in 2017 helped support the Central Bank of Nigeria’s strategy to maintain naira exchange-rate stability….

Moody’s: Challenging operating conditions keeps 2018 outlook for African banks negative

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LAGOS (Capital Markets in Africa) — Moody’s Investors Service says its negative outlook for the African banking system in 2018 reflects high macroeconomic risks that expose banks to asset quality pressures, reduced government support and sovereign credit risk. Moody’s report, “Banks — Africa, 2018 Outlook”, is available on www.moodys.com. Moody’s subscribers can access this report via the link provided at the end of this press release. This report does not constitute a rating action. “Although…

Bad Brexit Scenario Mars All-Bank Pass in BOE’s Stress Tests

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LONDON (Capital Markets in Africa) – British banks may have unanimously passed Bank of England stress tests, but that clean bill of health came with concern about a messy Brexit, courtesy of Governor Mark Carney. The central bank told lenders to add another 6 billion pounds ($8 billion) to their capital buffers and may increase their requirements again next year because it’s worried that the combination of a no-deal Brexit without a transition period and a global…

Diamond Bank to Boost Nigeria Loans Upon West Africa Retreat

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LAGOS (Capital Markets in Africa) – Diamond Bank Plc plans to boost lending and its customer numbers in Nigeria as it targets growth in its home market after divesting its units elsewhere in West Africa. The Lagos-based lender sees its loans growing by about 10 percent next year and customers increasing by a third to 20 million by 2019, Chief Executive Officer Uzoma Dozie said in a Nov. 23 interview in the commercial capital, Lagos. “The divestment is…

Kenya’s Biggest Bank Sees Rate Caps Staying Until at Least 2019

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NAIROBI (Capital Markets in Africa) – Kenya’s biggest bank reckons limits on interest-rate charges that have weighed on profit will be around for at least another year. “There are a lot of conversations happening and I have not seen anything today that says that we are ready to move,” KCB Group Ltd. Chief Executive Officer Joshua Oigara said in an interview in the capital, Nairobi, last week. Even the bank’s best-case scenario is that a review process of the…

Moody’s: Morocco’s diversifying economy and stable policy support positive banking system

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RABAT (Capital Markets in Africa) – Moody’s Investors Service (Moody’s) says its outlook for the Moroccan banking system is positive, supported in part by the country’s on-going economic diversification and stable and predictable political and economic policy environment. Moody’s report, “Banking system outlook: Morocco, improving operating environment and rising credit growth support positive outlook”, is available on www.moodys.com. Moody’s subscribers can access this report via the link provided at the end of this press release….

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