Nigeria Commercial Banking Report Q1 2013 - New Study Released

New Financial Services market report from Business Monitor International: "Nigeria Commercial Banking Report Q1 2013"

by Bill Thompson

(WireNews+Co) - Boston, MA - 05 January 2013

BMI View: The Nigerian banking sector has outperformed much of the rest of the country's economy, bucking the trend of a broad slowdown in economic activity by posting strong earnings for H112. We believe that given Nigeria's strong long-term economic outlook and our expectation for rapidly expanding demand for financial services, the outlook for the banking sector will continue to brighten in the years ahead. Nigerian banks, recovering strongly from the uncertainty that surrounded the sector throughout 2011, have reported rising earnings and look poised for further growth. Given a sluggish global economy and rising domestic unrest, particularly in the northern states, we recently revised downward our forecast for real GDP growth in Nigeria in 2012 to 7.1% from 7.6% previously. However, banks are notably bucking the trend for slowing growth. Following recently-released data from a number of banks showing robust expansion, we have made some upward revisions to our forecasts. We now believe that total assets will surpass NGN14.0trn by the end of 2012 (growth of 14.0%), with client loans reaching NGN9.1trn (also growth of 14.0%). While the end of 2011 met with rather lacklustre performances among a wide range of banks, in Q112 net profits before taxes were among the highest in recent memory. United Bank for Africa (UBA), Stanbic IBTC Bank (the local subsidiary of South Africa's Standard Bank), Access Bank, and Diamond Bank all saw net profits before taxes more than double compared to Q111 figures. Diamond and UBA, two of the handful of banks which had reported Q212 earnings at the time of writing, proved that higher earnings were not a one-quarter fluke, with both banks maintaining roughly the same performance from April through June.

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Partial Table of Contents:

Executive Summary

- Table: Levels (NGNbn) - Table: Levels (US$bn) - Table: Levels At April 2012 - Table: Annual Growth Rate Projections 2012-2017 (%) - Table: Ranking Out Of 59 Countries Reviewed In 2013 - Table: Projected Levels (NGNbn), 2010-2017- Table: Projected Levels (US$bn), 2010-2017

SWOT Analysis

- Nigeria Commercial Banking SWOT - Nigeria Political SWOT - Nigeria Economic SWOT- Nigeria Business Environment SWOT

Business Environment Outlook

- Commercial Banking Business Environment Rating - Table: Commercial Banking Business Environment Ratings- Table: Middle East and Africa Commercial Banking Business Environment Ratings

Global Commercial Banking Outlook

Regional Outlooks

- SSA Banking: Positive Outlook; Focus On Mauritius

MEA Banking Sector Outlook

- Table: Banks' Bond Portfolios 2011 - Table: Middle East and Africa Commercial Banking Business Environment Ratings - Table: Comparison of Loan/Deposit & Loan/Asset & Loan/GDP ratios - Table: Anticipated Developments in 2013 - Table: Comparison of Total Assets & Client Loans & Client Deposits (US$bn) - Table: Comparison of US$ Per Capita Deposits (2013)- Table: Interbank Rates and Bond Yields

Nigeria Banking Sector Outlook

- Banking On The Mend, Despite Slow Pace

Economic Outlook

- Tabel: Nigeria - Economic Activity, 2011-2016

Competitive Landscape

- Market Structure - Protagonists - Table: Protagonists In Nigeria's Commercial Banking Sector - Definition Of The Commercial Banking Universe - List Of Banks- Table: Deposit Money Banks

Company Profiles

- Citibank Nigeria - Table: Stock Market Indicators, 2006-2012 - Table: Balance Sheet (NGNmn), 2006-2011 - Table: Balance Sheet (US$mn), 2006-2011 -

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