AMCON, Nigeria’s “bad bank”, has said any decision to allow it to acquire NPLs would be up to the government and central bank. Earlier this month, the CBN shored up mid-tier lender, Skye Bank, with a loan and. ethic to direct the pilgrims.
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Last month, credit card default rates reached their highest point since the recession began. Bank of America claimed its rate hit 14.54 percent, while Citigroup (which issues MasterCard) saw its default rate go from 10.03 percent to 12.14.
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Bankers have said the ECB wants large banks to cut soured loans below 10 percent of total lending and have kept the pressure on individual lenders. Italy’s Intesa Sanpaolo, for instance, announced earlier this month a shift in strategy.
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Still, the IG found that 11% of the loans. credit screening and loan disbursement processes, where the SBA has little or no oversight over its partner lenders, according to the IG. The auditor’s findings do not mean that the loans in question.
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