Banking Economy News Extra Latest News

Banking Sector Records N40.48Trn e-Transactions in Q2, 2019

The National Bureau of Statistics (NBS) on Sunday disclosed that the banking sector recorded a total volume of 711,299,990 electronic transactions valued at N40.48trn in Q2 2019 as data

According to the agency, the NIBSS Instant Payments (NIP) transactions dominated the volume of transactions recorded. 271,344,549 volume of NIP transactions valued at N25.18trn were recorded in Q2 2019.

It reported further: “In terms of credit to private sector, the total value of credit allocated by the bank stood at N15.13trn as at Q2 2019. Oil & Gas and Manufacturing sectors got credit allocation of N3.33trn and N2.32trn to record the highest credit allocation as at the period under review.

“As at Q2 2019, the total number of banks staff decreased by 0.62% QoQ from 105,017 in Q1 2019 to 104,364” the Bureau added.

Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *