BusinessDay

These Nigerian banks facilitated biggest capital inflows in H1

Citi Bank, Standard Chartered Bank, Stanbic IBTC Bank, Zenith Bank, and Access Bank led the charge of capital importation into Nigeria in the second quarter of this year.

Data obtained from the National Bureau of Statistic revealed that banks recorded total capital importation of $1.55 billion in the second quarter of 2022 compared to $1.57 billion in the previous quarter.

Citi Bank, Standard Chartered Bank, Stanbic IBTC Bank, Zenith Bank, and Access Bank recorded $450.94 million, $323.24 million, $163.92 million, $128.38 million, and $101.14 million in Q2.

The laggards in capital importation were Providus Bank, Sterling Bank, Guaranty Trust Bank, Keystone Bank, and Unity Bank with $0.30 million, $0.99 million, $1.60 million, $1.93 million, and $3.56 million respectively in Q2.

Read also: Nigerian banks’ interest expense on deposits surges 68% in H1 2022

Best-performing banks by capital importation

Citi Bank

Citibank recorded the highest capital importation of $450.94 million in the second quarter of 2022, down 48 percent from $875.62 in the same period last year. It rose 2.71 percent compared to the $439.03 million capital imported in Q1 2022.

Standard Chartered Bank

Standard Chartered Bank recorded $323.24 million as capital importation in Q2 2022, up 14 percent from $282.37 million in the same period last year.

Standard Chartered Bank recorded $543.20 million as capital importation in Q1 2022.

Stanbic IBTC Bank

Stanbic IBTC Bank recorded capital importation of $163.92 million, compared to $310.21 million in the second quarter of 2021 and $251.52 million in Q1 2022.

Zenith Bank

Zenith Bank recorded capital importation of $128.38 million in Q2 2022, compared to $51.40 million in the same period last year and $92.88 million in Q1 2022.

Access Bank

Access Bank ranked fifth with capital importation of $101.14 million in the second quarter of 2022. The statistics office recorded no value for Access Bank in Q2 2021 and Q1 2021.

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