Business
Top 5 Banks Faces N1.5tr Deficit Over CBN Minimum Capital Base
The top 5 banks are facing a N1.5 trillion deficit in meeting the new CBN minimum capital base requirement.
The top 5 banks are facing a N1.5 trillion deficit in meeting the new CBN minimum capital base requirement.
Top 5 Nigerian banks face a combined deficit of N1.5 trillion to meet the N500 billion minimum capital base requirement set by the Central Bank of Nigeria (CBN).
VerseNews reports that according to the updated minimum capital regulation, each of the leading five banks – Access Bank, FirstBank, GTBank, UBA, and Zenith Bank – is required to maintain a minimum capital base of N500 billion.
The five banks are expected to have a total paid-up capital and share premium amounting to N2.5 trillion.
The top five banks have a combined paid-up capital and share premium of N1.037 trillion, which falls short by N1.472 trillion.
Access Bank has paid-up capital of N251.811 billion, shortfall of N248.189 billion.
FBN Holdings, has paid-up capital of N251.3 billion,shortfall of N248.66 billion.
The GTBank paid-up capital of N138.186 billion as of Q3’23, shortfall of N361.814 billion
UBA has paid-up capital of N115.815 billion, shortfall of N384.185 billion
Zenith Bank has a paid-up capital of N270.745 billion, shortfall of N229.255 billion.
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