TIER 2 banks suffered N233 billion TIER 2 banks suffered N233 billion decline in deposit in the first half of the year (H1 2017) owing to demand for higher deposit rate by customers.

Banks’ customers were said to be pressurizing for higher deposit rate against the backdrop of the high interest rate regime created by the monetary policy of the Central Bank of Nigeria (CBN) in its quest to curb inflation and reduce demand for foreign exchange.

Financial Vanguard analysis of the H1 2017 financial statements of six Tier-2 banks namely Diamond Bank of Nigeria Plc, Wema Bank Plc, Unity Bank Plc, FCMB, Sterling Bank Plc and Union Bank of Nigeria Plc revealed that four of the banks recorded decline in total customers’ deposit during the six months period.

The results also revealed that five of the banks recorded decline in current account deposit and four recorded decline in term deposits. However, five of them recorded increase in their savings account portfolio.

http://www.vanguardngr.com/2017/08/h1-2017-tier-2-banks-lose-n233bn-deposits-customers-demand-higher-interest-rate/?utm_source=Nairametrics+Newsletter&utm_campaign=27cb9b7887-EMAIL_CAMPAIGN_2017_04_03&utm_medium=email&utm_term=0_c96c21e814-27cb9b7887-80193605

lalasticlala, dominique, Mynd44

And they refused giving me loan... Maybe they were afraid I might die anytime soon cos of hardship in d country