Oil, gas sectors received highest credits from banks in Q2

Oil, gas sectors received highest credits from banks in Q2

The National Bureau of Statistics (NBS) says Oil and Gas and Manufacturing sectors got credit allocation of N3.45 trillion and N2.02 trillion respectively to record the highest credit allocation from the banking sector in second quarter of the year.

According to NBS, a total of 509,668,433 transactions valued at N32.90 trillion was recorded in the banking sector during the period.

The bureau made this known in its “Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels and Staff Strength (Q2 2018)” report released in Abuja on Monday.

The report stated that Automated Teller Machine (ATM) transactions dominated the volume of transactions recorded.

NBS said 217,417,961 volume of ATM transactions valued at N1.603 billion was recorded in the period under review.

It reads, “In terms of credit to private sector, the total value of credit allocated by the banks stood at N15.34 trillion as at the second quarter.

“As at the second quarter, the total number of banks staff increased by 13.67per cent, from 89,608 in first quarter to 101,861.”

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