Nigerian, African Banks Face Climate, Environmental Risk Threats
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Description
Although the non-performing loans ratio of Nigerian banks stands at 6.3 per cent, above the prudential benchmark of five per cent, Moody’s Investors Service has asserted that banks in Nigeria,...
show moreMoody’s Investors Service has asserted that banks in Nigeria, as well as those in South Africa and the Democratic Republic of Congo, stand exposed to high risks environment as a result of their rising loan portfolios or their continuous lending to environmentally sensitive sectors. It says they are also vulnerable through outsized holdings of government bonds.
In a research study by the international agency on Africa’s financial institutions,
Moody’s highlighted that African economies have always been susceptible to environmental risk but that climate change makes shocks more frequent and more severe. For African banks, it stated, disclosure of the risks they face and management of those risks are not yet well advanced
Information
Author | Africa Business Radio |
Organization | Africa Business Radio |
Website | - |
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