Tag: mahin dissanayake
Many South African banks will be reporting their financial results in the coming days. As expected, COVID-19 has brought on a financial crunch for banks that were already downgraded in March, by Fitch Ratings. Mahin Dissanayake, Senior Director at Fitch Ratings joins CNBC Africa to give insight into the position that banks are in and the South African Reserve Bank’s response to COVID-19.
Fitch Ratings say the credit profiles of Nigerian banks faces severe risks from the slump in oil prices and a disruption in the operating environment due to the coronavirus pandemic. Fitch noted that the weighted -average cost of risk for Nigerian banks its rates rose by 200 basis points during the 2015 oil price shocking they do not rule out a similar increase this year. Mahin Dissanayake, Senior Director at Fitch Ratings joins joins CNBC Africa for more.
Fitch Ratings say achieving the new loan-deposit ratio (LDR) requirement by the Central Bank of Nigeria (CBN) in such a short time will be very difficult for some banks given their current lending levels, particularly if customer deposits continue to grow at present rates. Mahin Dissanayake, Senior Director, for EMEA Financial Institutions Group at Fitch Ratings joins CNBC Africa for more.