Market News
Banks recapitalization will increase loans, advances — Proshare
By Elizabeth Adegbesan
Analysts at Proshare Nigeria, 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.
Explaining the criteria of selecting the banks, he said: “Now, coming to the most recent BDSI report for 2024, we went even further than that and we decided to make those criteria 15 in number.
“The Proshare report suggests that we have gone back to what we started off with in 2013 with Afrinvest. Afrinvest had an acronym for tier-1 banks, FUGAZE.
“In 2024, Proshare discovered that the same FUGAZE are tier-1 banks. Now, if you look at the analysis here, you will find that Access Bank in our first report was number one. It was top tier-1 bank. In the previous report, because of the adjustment in the criteria, Access Bank came to number four. But in 2024, they came back to number one.
Reviewing the book, Dr. Ruben Abati, Host, ‘The Morning Show’ on Arise TV, congratulated the Author, Tosin Adeoti and Founder Proshare Nigeria, Femi Awoyemi.
He added:”This book is the nearly two decade story of Proshare from its humble beginnings and its emergence as a leading player in the financial space in Nigeria with a growing global reputation”.
