Nigerian Banks In 2017: Slow Economy, Record Profits

How did Nigerian banks manage very impressive results in an economy that barely grew in 2017?

Last month, the National Bureau of Statistics (NBS) published the economic score card for 2017, which showed that Nigeria escaped recession by squeezing out growth of 0.8 percent. But how did Nigerian banks perform? In this piece we examine the performance of four banks who have put out their 2017 earnings numbers: Zenith, United Bank for Africa, Access…