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    Thursday, July 4, 2024

    Bank Recapitalization is Expected to Result in Loans Increase, Advances -Proshare

    The recapitalization of banks is expected to lead to a rise in loans and advances, according to Proshare.

    Proshare Nigeria, a reputable online news source, has forecasted a rise in bank loans and advances, among other developments, as a result of the recapitalization of banks.

    During a book presentation titled ‘Beyond Profit: How a Nigerian company built a culture of credibility’ held in Lagos, Mr. Teslim Shitta-Bey, the Managing Editor and Chief Economist of Proshare Nigeria, addressed the audience:

    “Banks will increase loans and advances. Those will result in increased manufacturing output, and our Gross Domestic Product, GDP, will grow faster.

    “For those invested in the equity market, we expect that those companies will do better. There will be an increase in capital gain, and there will therefore be an increase in dividends, which, if households had invested in equity, there will be a higher household welfare.”

    Shitta-Bey added that the recent Proshare BDSI report indicates that Access Bank, Zenith Bank, First Bank of Nigeria Holding, EcoBank, United Bank of Africa, and Guaranty Trust Bank (FUGAZE) are the tier-1 banks, with their positions listed in the order provided.

    In reference to the selection process for the banks, he elaborated on the criteria employed: “Now, coming to the most recent BDSI report for 2024, we went even further than that and we decided to make those criteria 15 in number.

    “The Proshare report suggests that we have gone back to what we started off with in 2013 with Afrinvest. Afrinvest had an acronym for tier-1 banks, FUGAZE.

    “In 2024, Proshare discovered that the same FUGAZE are tier-1 banks. Now, if you look at the analysis here, you will find that Access Bank in our first report was number one. It was top tier-1 bank. In the previous report, because of the adjustment in the criteria, Access Bank came to number four. But in 2024, they came back to number one.”

    During the book review, Dr. Ruben Abati, the host of ‘The Morning Show’ on Arise TV, extended his congratulations to the author, Tosin Adeoti, and the founder of Proshare Nigeria, Femi Awoyemi.

    He further stated that this book chronicles the nearly two-decade journey of Proshare, from its modest origins to its current position as a prominent player in the Nigerian financial industry, with a burgeoning international reputation.

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