Banks may consider downgrading licenses due to the new capital requirements.
As banks’ leadership discusses ways to meet the new capital requirements, experts in the banking sector are suggesting that some may need to think about downgrading their licenses.
Industry experts predict that the top five banks known as FUGAZ – First Bank, United Bank for Africa, Guaranty Trust Bank, Access Bank, and Zenith Bank – are expected to be favored by investors. In contrast, First City Monument Bank and Fidelity Bank might need to contemplate transitioning to a national banking license.