Bad bank loans to be absorbed in Quarter 1
The Nigerian Stock
Exchange said on Monday it expected all eligible non-performing loans
in the banking sector to have been bought by the Asset Management
Corporation of Nigeria (AMCON) in the first quarter. “Additional
purchases of non-performing loans are scheduled for the first quarter
of this year, while it is planned that by March 31 all qualified NPL
from all banks would have been purchased,” the bourse said in an annual
review.
The Exchange also said share purchases by foreign investors rose 48
percent last year to 381 billion naira and that wider trading hours
meant liquidity was continuing to improve adding that wider trading
hours introduced last month had led to a 15.6 percent increase in
traded volumes.
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