Banks’ assets in Nigeria hit N38.4trillion
By Udeme Clement
Facts emerged that assets and liabilities of commercial banks operating in the country have increased to N38.4trillion in the first quarter of 2019 fiscal year.
This formed part of the details released by the Central Bank of Nigeria, CBN, on its monthly economic report.
The report further shows that within the same period in the previous year, 2018, banks assets stood at a monetary value of N35.7trillion.
Comparatively, this shows that banks recorded 7.5 percent increase in assets from January to March, 2019.
In the same vein, banks credit for domestic economy hits N20.8trillion in the same period, showing an increase of 14 percent.
Also, the total specified liquid assets stand at about N13.6trillion, showing 61.1 percent of banks total liabilities, caused mainly by a arise on claims by government and the private sector