Three big banks have fallen below regulatory capital requirement, the result of stress test conducted by the Central Bank of Nigeria on the status of the banking system has shown.
The test, contained in the Financial Stability Report released on Wednesday by the CBN Governor, Godwin Emefiele, classified lenders into three groups: large banks, those with assets greater than or equal to N1 trillion; medium banks with assets greater than or equal to N500 billion, but less than N1 trillion; and small banks with assets of less than N500 billion.
The banking industry stress test was carried out at the end of December last year, covering 23 commercial and merchant banks and evaluated the resilience of the banks to credit, liquidity, interest rate and contagion risks.
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