Wema Bank, FSDH Merchant Bank fail to attract capital importation in Q2
Two financial institutions, Wema Bank Plc and FSDH Merchant Bank Limited in second quarter of 2022 failed to attract capital importation into Nigeria, according to a report by National Bureau of Statistics (NBS).
In the report, Heritage Banking Company Limited since Q1 2021 has not attracted capital importation into Nigeria.
The “Nigerian Capital Importation” report by NBS disclosed that 18 banks in the country imported $1.54billion capital importation in Q2 2022 as against $1.57billion capital imported in Q1 2022.
As Wema Bank and FSDH merchant bank in Q1 2022 imported $1.93million and $30.2million in Q1 2022, respectively, both banks in Q2 2022 did not record any capital importation in Q2 2022, according to NBS report.
The report disclosed that Citibank Nigeria Limited, followed by Standard Chartered Bank Nigeria Limited are the two banks operating in Nigeria with the highest capital importation in the period under review.
For instance, Citibank Nigeria Limited’s capital importation was $450.94million in Q2 2022, while Standard Chartered Bank Nigeria recorded $323.24million capital importation in the same period.
The report added: “Categorization of Capital Importation by Bank shows that Citibank Nigeria Limited ranked highest in Q2 2022 with $450.94 million (29.37per cent). This was followed by Standard Chartered Bank Nigeria Limited with $323.24 million (21.05 per cent) and Stanbic IBTC Bank Plc with $163.92 (10.68 per cent).”
