Another banking consolidation imminent, McKinsey predicts

McKinsey, Another banking consolidation imminent

Another banking consolidation imminent, McKinsey predicts Another round of banking consolidation is inevitable for lenders to thrive by growing capital base quicker than inflation rates and devaluation of the naira, management consulting firm McKinsey & Company said in a report on recently. The document titled Nigeria’s banking sector: Thriving in the Face of Crisis and Bold Ideas to Help the Industry Build Resilience and Drive Long-term Sustainability, noted that a new banking consolidation was imminent, considering the need to measure up to Basel III requirements, manage asset quality deterioration and a couple…

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