London-based investment banking services firm, Exotix Capital has released a new report that says the $1.2 billion Etisalat Nigeria debt burden will have ”manageable impact” on the 13 Nigerian banks involved.
The analysts estimate a minus 12 percent impact on the lenders’ net profit in the 2017 financial year, a negative two percent impact on their equity and, a modest 0.3 percent hit on their capital adequacy ratio.
The report says a bailout of Etisalat Nigeria by the Central Bank and Asset Management Corporation of Nigeria is unlikely.
Among the group of banks involved in the Etisalat loan crisis, the biggest contributors are Zenith Bank with N80 billion, GTBank with N42 billion and Access Bank with N40 billion.
The lowest amount of loan in the consortium was FCMB at N4.5 billion.
Source: Channels TV