Stanbic IBTC Bank, Standard Chartered Bank Nigeria, and Citibank Nigeria Limited lead as capital importation from banks hit $38.18bn in almost three years.
According to a National Bureau of Statistics report, banks imported the most capital in 2019 at $23.99bn, which reduced to $9.68bn in 2020. However, in the first nine months of 2021, banks recorded only $4.51bn capital importation, indicating their worst run in the 33-month period under review. Capital importation comprises three main investment categories, namely foreign direct investment, foreign portfolio investment, and other investments.
Within the period under review, eight out of the 28 banks listed by the NBS accounted for 90.95 per cent of the total capital importation recorded by the banks.
Congrats my StanChart, my best bank ever
So far Stanbic is still the best we have.
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