CBN’s stress test clears banks

CBN’s stress test clears banks

Business | Aug 17, 2020 03:33am | FORUM 234 Connect |

Banks are strong enough to withstand the COVID-19 pandemic impact, the Central Bank of Nigeria (CBN) stress test has revealed.

The Deposit Money Bank’s (DMB’s) balance sheets and profitability margins are also rated high.

“Stress test on the banking industry confirms a resilient sector that is able to survive the effects of COVID-19 pandemic and volatility in the oil market,” a member of the CBN-led Monetary Policy Committee (MPC) Festus Adenikinju, said.

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