• Friday, July 19, 2024
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CBN to raise banks’ LDR to 70%

CBN
The Central Bank of Nigeria (CBN) plans to increase the minimum loan to deposit ratio of commercial banks to 70 percent from 65 percent by 2020.
Hassan Bello, the director of banking supervision at the CBN, said this at the 2019 workshop for finance correspondents in Adamawa state.
The CBN is forcing banks to boost lending in a bid to revive weak economic growth.
The International Monetary Fund said last week that the balance sheets of banks would be weak due to the CBN’s aggressive lending push.