The Central Bank of Nigeria (CBN) has given at least six banks deadline to beef up their capital base in line with the increased capital requirements under Basel II Capital Accord.

Reliable industry sources said many banks have not met the Basel 11 capital requirement and will need to raise additional capital to beef up their capital base within the next 12 months.

According to the sources, the apex bank has mandated the deficient banks to submit a recapitalization plan, outlining the timeline for their capital raising plan, to the apex bank by June 2015. The banks are expected to implement the recapitalization plan and complete their recapitalization plan by the end of June 2016.

A leading global investment and finance firm indicated to The Nation at the weekend that some 10 banks have been confirmed to have met the capital requirements under the Basel 11. These included Access Bank, Diamond Bank, FBN Holdings, FCMB Group, Fidelity Bank, Guaranty Trust Bank, United Bank for Africa (UBA), Zenith Bank, Wema Bank and Skye Bank Plc.

While the capital adequacy ratio of most banks is generally above the minimum regulatory threshold of 15 per cent, the adoption of Basel II implies additional capital as banks grow their risk assets. Besides, banks that are designated as systemically important banks (SIBs) are expected to make provision for additional 100 basis points to increase their minimum capital adequacy ratio to 16 per cent as against the general requirement of 15 per cent.

The Basel II is the second global standards of capital adequacy issued by the Basel Committee on Banking Supervision under the auspices of the Basel, Switzerland-based Bank for International Settlements (BIS), the oldest international financial organisation that coordinates central banks and standards for the international financial markets.

The Basel Committee has issued three sets of the global standards including Basel I, Basel II and Basel III, which increased and stricter capital risks and exposure management requirements from one level to another.

http://thenationonlineng.net/new/banks-get-deadline-to-recapitalise/

Source?

*Modified*

Someone please check I can't seem to find Stanbic IBTC

biznus:
Source?

Provided

Where is the PICTURE of CBN gofno seeing is believing





If you quote me here u r on ur own OYO.

GMB MY HERO

SANUSI Lamido Sanusi My Emir

Amaechi My guy

hmmmm thank God i made it here

Ok--- "Access Bank, Diamond Bank, FBN Holdings, FCMB Group, Fidelity Bank, Guaranty Trust Bank, United Bank for Africa (UBA), Zenith Bank, Wema Bank and Skye Bank Plc".

Where is Keystone, Enterprise Bank, Heritage Bank, Union Bank others

My money is safe where it is. Fidelity.

Hard times for the banking sector...it sure will make them stronger

Waka!

Why is every body in a rush to scatter the status quo before may 29?

Eya!!!!
This will invariably add pressure on the marketers of these banks.
This is serious

Jst here 2 read comments

Ok

From the look of things, we may have less than fifteen commercial banks in Nigeria five years from now.
We need more banks in this country, the ones we have at the moment are a waste of time. They are not helping the economy the way banks are supposed to.

And the banks are?

this bank of a thing self, always on money stuffs choi

Since you don't want to mention the 11 banks I guess my niece who has written her C.E.E and is a genius at Quantitative Reasoning will find the failed banks from the list of those who scaled through. Easy.

alright

biznus:
Source?

Some news are so true to be sourced lol

Dear Buhari,

Congratulation once again for your victory at the polls.

Now to the point of this letter: You have got 4 years to keep ALL your campaign promises and your time starts May 29 at 00hrs. Please note that we will not tolerate any form of excuses for non performance as nobody forced you to make those promises. We were told that you are a man of your words, so please in your own best interest, keep your words.

We are not asking for heaven on earth, no. We are simple asking that you deliver on YOUR promises:

4 refineries
40mw of electricity
Naira = dollars
N5,000 for unemployed
One year allowance for corp members
Free qualitative education
Fight against corruption, (not selective fight please)
and many more.

Please dont come asking for more time because we dont have the luxury of more time. Dont tell us to be patient, because if we wanted to be patient, Jonathan would have been our perfect man. Dont tell us past leader destroyed the economy because you were one of them. Just get to work and get us result. If you cant deliver, now is the time throw in the towel.

Be guided

Voter

How come Wema bank has meet it, meanwhile Union Bank has not.....I smell rigging in all of this.

So Sterling bnk is among? Beta for them! Punishment for saying we failed their test wen some of us could not eveb log in cos of network

so my bank no dy among? omo na to go withdraw my money sharp sharp.....I no wan hear say dem use my money do campaign after election!
















e b lyk say the bank Wey Trypa dy use dy there oooo.....so she's banking with the best, that's y she's the best person to win miss nairaland!







TRYPA for miss nairaland! nairaland.com/trypa

Good for our economy

kennygee:
My money is safe where it is. Fidelity.

They are not talking about your kind of money.... We are not talking a few thousand naira here!

Where is ECO Bank? Ki owo ma wo Igbo....

Mumu ecobank were una dey

What is Basel I, Basel II and Basel III?

Hard times for female bank marketers: