Wednesday, April 13, 2016 8:25AM /NBS
NBS publishes break down of banks credits and deposits by states for 2010-2015. Total bank credits rose from N8.6tr in 2010 to N12.9tn in 2015 while total bank deposits stood at N17.1tn in 2015 from N9.9tn in 2010.
Top three states for bank credits for 2015 were Lagos (10.1tn or 78% of total bank credit), Rivers (0.65tn or 5%) and FCT (0.402tn or 3.1%). Top three states where bank deposits were held in 2015 were Lagos (N8.7tn or 50.7% of total deposits), FCT (2.3tr or 13.4%), Rivers (1.0tn or 5.8%).
Yobe State had the lowest value of bank credits issues (N4.09bn) and bank deposits (N23.3bn) in 2015.
Monitoring bank credit/deposits in each state may be used as an indicator of the level of economic activity and wellbeing of operators (households and businesses) in a particular state as it shows what residents are borrowing and amount they deposit in banks.