Top 10 Bank Destination For Capital Importation In H1 2020 As Stanbic Lead others

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The total value of capital importation into Nigeria in the first half of the year 2020 stood at $7.149 billion. This represents a decrease of -50.9% compared to the H1 2019 figure of $14.560 billion and -24.2% compared to the H2 2019 figure of $9.429 billion. 

Source: NBS

Standard Chartered Bank, however, attracted the most of the capital importation in H1 2020 with a total of $2.081 billion representing over 29% of the total. Stanbic IBTC also attracted a significant amount of the imported capital as well with a total of $1.724 billion representing 24% of total passing through the bank.

Other banks: Citibank attracted $910 million; FirstBank $742 million; Rand Merchant Bank $689 million; Access Bank $301 million; Ecobank $232 million; GtBank $100 million; FCMB also $100 million and Zenith with the lowest capital importation destination in H1 2020 among the top 10 destination Banks.

 

Source: NBS

By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in H1 2020 with $6.266 billion. This accounted for 87.6% of the total capital inflow in H1 2020.

Source: NBS

The United Kingdom emerged as the top source of capital investment in Nigeria in H1 2020 with $3.337 billion. This accounted for 47% of the total capital inflow in H1 2020. 

Source: NBS

The Banking Sector attracted the most Capital Importation in H1 2020. The sector accounted for $3.130 billion representing 44% of total capital inflow in H1 2020.

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The largest amount of capital importation by type was received through Other investment, which accounted for 58.77% ($761.03m) of total capital imported, followed by Portfolio Investment, which accounted for 29.76% ($385.32m) and Foreign Direct Investment (FDI), which accounted for 11.47% ($148.59m) of total capital imported in Q2 2020. By sector, Capital importation by Shares dominated in Q2 2020 reaching $464.57m of the total capital importation in Q2 2020.

 

Culled; Nigerianbanker

 


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