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Nigeria’s ultra-low T-bill yields will harm banks’ profitability – Moody’s


…says mid-sized banks to be hard hit

…expects NPLs at 10%, GDP growth at 2.1% in 2021

Nigeria’s ultra-low Treasury bills yields amid high inflation rate are credit negative for banks, according to global rating agency Moody’s. The low-interest-rate will continue to compress banks’ net interest income, making them unable to reduce their cost of funding at the same pace, Moody’s said. “Our negative outlook for Nigerian banks reflects our expectations of…

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