Analysts at Proshare Nigeria, an online news platform, have forecasted an increase in bank loans and advances following banks’ recapitalization.
During the presentation of the book, “Beyond Profit: How a Nigerian Company Built a Culture of Credibility,” in Lagos, Mr. Teslim Shitta-Bey, Managing Editor/Chief Economist at Proshare Nigeria, stated, “Banks will boost loans and advances, leading to higher manufacturing output and faster growth of our Gross Domestic Product (GDP).
“For equity market investors, we anticipate better performance from these companies, resulting in increased capital gains and higher dividends. This, in turn, will improve household welfare for those invested in equities.”
Shitta-Bey highlighted the recent Proshare BDSI report, which identified Access Bank, Zenith Bank, First Bank of Nigeria Holding, EcoBank, United Bank of Africa, and Guaranty Trust Bank (FUGAZE) as the top tier-1 banks.
Explaining the selection criteria, he said, “In the most recent BDSI report for 2024, we expanded our criteria to 15 factors. Our findings align with our initial 2013 analysis with Afrinvest, which also identified FUGAZE as the tier-1 banks.
“In the 2024 report, Access Bank, which was previously ranked number one, had dropped to number four due to criteria adjustments but regained its top position.”
Reviewing the book, Dr. Ruben Abati, host of ‘The Morning Show’ on Arise TV, congratulated the author, Tosin Adeoti, and Proshare Nigeria’s founder, Femi Awoyemi. He remarked, “This book chronicles Proshare’s nearly two-decade journey from humble beginnings to becoming a leading financial player in Nigeria with a growing global reputation.”
