Monday, May 17, 2021

First Bank restructured 15% of $4.6 billion loans in H1 – risk officer

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Godwin Okafor
Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

ABUJA, Aug 3 – Nigeria’s First Bank had restructured 15% of its 1.759 trillion naira ($4.6 billion) loan book by the end of the first half, up from 6% three months previously, its chief risk officer said on Monday.

“We don’t see so much deteriotation (towards year end),” Olusegun Alebiosu told an analysts’ call, adding that the bank’s exposure to the tourism and aviation sectors most impacted by the COVID-19 pandemic was around $10 million.

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