Financial condition and performance of deposit money banks in the first and second quarter of 2018
Date
2018
Journal Title
Journal ISSN
Volume Title
Publisher
Nigeria Deposit Insurance Corporation (NDIC),
Abstract
Introduction; Structure of Assets and Liabilities; Financial Condition of DMBs; Conclusion
Description
During the second quarter of 2018, the Nigerian economy continued to show signs of recovery from the 2016 recession. Nigeria’s overall GDP grew by 1.95% in the first Quarter of 2018. That growth trajectory was supported by rising price of crude oil and improved production level in the country. Inflation also declined from 12.5% in April 2018 to 11.6% in May 2018 and was projected to decline further on the back of sustained exchange rate stability and effective liquidity management, amongst others.These economic developments influenced financial performance of the banking industry in many ways, Direct Money Banks had an improved performance during first and second quarter of 2018.