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CBN Reduces Banks’ Loan-deposit Ratio to 50%

April 21, 2024
in Business
CBN Reduces Banks’ Loan-deposit Ratio to 50%
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CBN Governor, Olayemi CardosoCBN Governor, Olayemi Cardoso

FIRS

The Central Bank of Nigeria has slashed commercial banks Loan-to-Deposit Ratio from 65 per cent to 50 per cent as part of measures to deepen its monetary tightening policy.

The development means Deposit Money Banks are now allowed to lend only 50 per cent of their deposit to customers.

In a new directive, issued on April 17, 2024, with reference number BSD/DIR/PUB/LAB/017/005 and signed by the CBN Acting Director of Banking Supervision, Adetona Adedeji, the apex bank said it had reduced the Loan-to-Deposit ratio by 15 percentage points, down to 50 percent.

All Deposit Money Banks are now mandated to adhere to this revised LDR. The CBN has stated that average daily figures will be utilised to gauge compliance with this directive.

Furthermore, while DMBs are encouraged to maintain robust risk management practices in their lending activities, the CBN said it was committed to continuous monitoring of compliance with the directive,

Adedeji has called on all banks to acknowledge these modifications and adjust their operations accordingly.

He emphasised that the regulatory adjustment was anticipated to significantly influence the banking sector and the wider Nigerian economy.

The circular stated in part, “Following a shift in the Bank’s policy stance towards a more contractionary approach, it is crucial to revise the loan-to-deposit ratio policy to conform with the CBN’s ongoing monetary tightening.

“Consequently, the CBN has decided to decrease the LDR by 15 percentage points to 50 percent, proportionate to the rise in the CRR rate for banks.

“All DMBs must maintain this level, and it is advised that average daily figures will still be applied for compliance assessment.

“While DMBs are urged to sustain strong risk management practices concerning their lending operations, the CBN will persist in monitoring compliance, reviewing market developments, and making necessary adjustments to the LDR. Please be guided accordingly.”

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