July 25, 2023/Fitch Ratings U.S. large and regional bank results for 2Q23 have been broadly weaker on a sequential-quarter and year-over-year basis, largely in line with expectations, Fitch Ratings says. The weaker results reflect rising deposit costs, an uptick in provisions and continued inflationary pressure on non-interest expenses. Based on […]
Money Market
Nigerian Banks Face Risks from Currency and Fuel Subsidy Reforms
July 27, 2023/Fitch Ratings Nigerian banks face weaker capital ratios and higher impaired loans following reforms to liberalise the Nigerian naira and to remove the long-standing subsidy on fuel, Fitch Ratings says in a new report. The official exchange rate depreciated sharply in June following the Central Bank of Nigeria’s […]
US Fed Reserve Raises Interest Rates to 22-Year High
July 27, 2023/US Federal Reserve Recent indicators suggest that economic activity has been expanding at a moderate pace. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated. The U.S. banking system is sound and resilient. Tighter credit conditions for households and […]
