The top 5 banks are facing a N1.5 trillion deficit in meeting the new capital requirement set by CBN for the New Capital Base.
According to the updated minimum capital regulation, each of the leading five banks – Access Bank, FirstBank, GTBank, UBA, and Zenith Bank – is required to maintain a minimum capital base of N500 billion.
The five banks are expected to have a total paid-up capital and share premium amounting to N2.5 trillion.
The top five banks have a combined paid-up capital and share premium of N1.037 trillion, which falls short by N1.472 trillion.
Access Bank has paid-up capital of N251.811 billion, shortfall of N248.189 billion.
FBN Holdings, has paid-up capital of N251.3 billion,shortfall of N248.66 billion.
The GTBank paid-up capital of N138.186 billion as of Q3’23, shortfall of N361.814 billion
UBA has paid-up capital of N115.815 billion, shortfall of N384.185 billion
Zenith Bank has a paid-up capital of N270.745 billion, shortfall of N229.255 billion.