Vulnerable borrowers benefitting from the Central Bank of Nigeria’s COVID-19 forbearance hold about 37.72 per cent of the entire banking industry loan portfolio as of April.

Vulnerable borrowers benefitting from the Central Bank of Nigeria’s COVID-19 forbearance hold about 37.72 per cent of the entire banking industry loan portfolio as of April.

A member of the Monetary Policy Committee, Robert Asogwa, said this in his personal statement, which was released by the CBN on Saturday.

He said, records show that vulnerable borrowers benefiting from the CBN COVID-19 forbearance hold about 37.72 per cent of the entire banking industry loan portfolio and this surely represents a significant size for the banking industry.

According to him, the increase in the total assets and total deposits of the banking industry in April 2021 compared to the position in February shows that the system remains robust and characterised by a balanced funding structure despite the marginal deterioration in both capital adequacy ratio and profitability indicators between March and April 2021.