Tag Archives: Banks

Banks Risk Weaker Assets Over Credit Crunch – Fitch

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In a newly-published special report yesterday,Fitch Ratings (FR) said that the recent rapid credit growth in the Nigerian banking sector may give rise to weakened asset quality and higher impairment charges if left unchecked.

“There was a marked improvement in banks’ asset quality during 2011 following the sale of problem loans to the Asset Management Corporation of Nigeria,” said Denzil De Bie, a director in Fitch’s Financial Institutions team.

“However, rapid underlying credit growth of 30 to 66 per cent was evident in most of the Fitch-rated banks in 2011 which the agency considers will be a negative credit driver if it continues,” De Bie added. Continue reading

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Moody Downgrades 15 Top Banks Over Losses

The health of 15 of the world’s largest financial institutions has been called into serious question after Moody’s downgraded their credit ratings, citing risk exposure and the eurozone crisis.

Some of the biggest names in banking — including Goldman Sachs, Barclays, Citigroup, HSBC and Deutsche Bank — saw their ratings slashed Thursday, spelling increased investor scrutiny and potentially higher borrowing costs. Continue reading

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