By Elizabeth Adegbesan
Analysts at ProshareNigeria, an online news media, have projected increased bank loans and advances among other things following banks recapitalization.
Presenting a book, Beyond Profit: How a Nigerian company built a culture of credibility, in Lagos Mr. Teslim Shitta-Bey, Managing Editor/Chief Economist, Proshare Nigeria, said: Banks will increase loans and advances. Those will result in increased manufacturing output, and our Gross Domestic Product, GDP, will grow faster.
For those invested in the equity market, we expect that those companies will do better. There will be an increase in capital gain, and there will therefore be an increase in dividends, which, if households had invested in equity, there will be a higher household welfare.
Shitta-Bey noted that the recent Proshare BDSI report shows Access Bank, Zenith Bank, First Bank of Nigeria Holding, EcoBank, United Bank of Africa and Guaranty Trust Bank (FUGAZE), as the tier-1 banks with positions in the outlined order.
