Banks’ N1.2trn loans at risk on inflation, interest rates

Rising interest rates, surging inflation and naira devaluation led to a 107 percent surge in impaired loans’ value in the books of nine out of 10 listed banks in the first nine months of 2024, according to data compiled by BusinessDay. A rising impaired loan is an indication that more loans are in the hands of borrowers who are having difficulties repaying them. The lenders involved are: Access Holdings Plc, Zenith Bank Plc, UBA, FBN Holdings Plc, Stanbic IBTC Holdings Plc, Wema Bank Plc, Sterling Holdco, Fidelity Bank, and Ecobank Transn