The Non-Performing Loan (NPLs) ratio of Nigerian banks decreased to 6.4 per cent at the end of June 2020 from 9.4 per cent in the corresponding period of 2019, on account of increased recoveries, write-offs and disposals.
This was disclosed by the Monetary Policy Committee (MPC) of the Central bank of Nigeria (CBN), following a meeting held in Abuja yesterday.
The Committee expressed confidence in the stability of the banking system and urged the CBN to monitor the compliance of deposit money banks (DMBs) to its prudential and regulatory measures to sustain the soundness and safety of the banking industry.
Nigerian Banks have struggled with elevated NPLs since the end of the recession of 2016.