13 banks meet CBN’s offshore banking condition – The Nation


[color=#000099][BANKS EQUITY BASE (BILLIONS)
[list]
[li]Zenith Bank 338
FIRST BANK 337
UBA 336
BankPHB 253
OCEANIC 210
INTERCONTINENTAL 200
ACCESS 185
GTB 182
FIDELITY 135
FCMB 130
UNION 119
FIN 101
DIAMOND 100
SKYE 86
STANBIC-IBTC 80
ECOBANK 76
STANDARD 42
UNITY 42
CITI 37
AFRIBANK 35
ETB 32
STERLING 31
WEMA 25
SPRING -90[/li]
[li][/li]
[/list]
color]
13 banks meet CBN’s offshore banking condition – The Nation
April 14, 2010 by Bunmi Awolusi
Thirteen banks are poised to carry on in business going by the new rule of the Central Bank of Nigeria (CBN) that sets N100 billion equity capital for offshore expansion. The rule is to come into force before year end.
The banks will have to set up a holding company to keep their offshore interest or step back and remain a national bank with just N25 billion capital base. Of the 24 banks in operation, those with equity capital in excess of the N100 billion required include Diamond Bank, Intercontinental, Fidelity, Guaranty Trust, First City Monument, Access Bank and Oceanic Bank. Others are Zenith, United Bank of Africa, Fin Bank, Bank PHB and Union Bank.
Zenith Bank led the pack with N338 billion followed by First Bank with N337billion, United Bank of Africa, N336 billion and Bank PHB N253 billion. Others are: Oceanic Bank, N210 billion, Intercontinental Bank, N200 billion, Access Bank N185 billion, Guaranty Trust Bank N182 billion and Fidelity Bank N135 billion. First City Monument Bank has N130 billion, Union Bank N119.160 billion, Fin Bank N101.5 billion and Diamond Bank, N100 billion.
However, Citibank, Ecobank Nigeria, Stanbic IBTC and Standard Chartered Bank may be in a peculiar category, given their membership of global multinational groups. Stanbic IBTC Bank has N80.67 billion. Ecobank has N76.82 billion; Citi Bank has N37.69 billion and Standard Chartered N42 billion.
Other banks below offshore branch threshold include Wema Bank, which has N25 billion capital base, Unity Bank, N42 billion, Skye Bank N86.9 billion and Equitorial Trust Bank N32.12 billion. Sterling Bank has N31.27 billion; Afribank- N35 billion and Spring Bank with a negative equity capital of N90 billion.
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Source website: Nigerian The Nation Newspaper

In addition

, "Under the Monoline banking, the apex bank stated that three categories of banks will be considered. They are Regional bank, National and International bank. The regional bank will operate in a "minimum of five and a maximum of 10 contiguous states" in addition to having the word "Regional" in its name. The minimum capital for this category of bank will be N15 billion. The national with branch network restricted to Nigerian will have a minimum capital of N25billion and international bank with offshore branches with minimum capital of N100 billion.''

I dont know where this man (Sanusi) is going to, 'Regional Bank' in this era?