The total assets and liabilities of Deposit Money Banks in the country increased to N22.5tn at the end of June, according to the Central Bank of Nigeria’s second quarter report released on Thursday.
The development showed an increase of N66.2bn or 0.3 per cent and N1.2tn or 5.8 per cent above the levels in the preceding month and at the end of December 2012, respectively.
The CBN said the N66.2bn or 0.3 per cent increase in total assets could be attributed to the increase in all the sub-components except reserves and foreign assets, which declined by N383.5bn or 8.8 per cent and N55.7bn or 2.7 per cent, respectively.
The central bank, however, said the Federal Government deposits, capital accounts, savings and foreign currency liabilities decreased by N147.6bn or 11.3 per cent, N71.9bn or 1.8 per cent and N26.6bn or 0.3 per cent, respectively.
The report said, “At N3.2tn, unclassified assets increased by N251.2bn or 8.3 per cent and N418.6bn or 14.7 per cent above the levels in the preceding month and at end-December 2012, respectively.
“The increase in unclassified assets in the review month was attributed to the rise in all the sub-components except fixed assets which fell by N9.8bn or 0.8 per cent.”
The CBN said its credit to the DMBs increased by N19.4bn or 8.7 per cent to N242.4bn in June 2013. This, it said, was accounted for mainly by N21.2bn increase in CBN overdrafts to banks.
When compared with the level recorded in the preceding month, inter-bank liabilities decreased by N40.7bn or 7.2 per cent. The decrease was attributed to decreases in all the sub-components.
The report said, “Unclassified liabilities stood at N2.6tn in the review month, showing increases of N35.2bn or 1.3 per cent and N152.9bn or 6.1 per cent above the levels recorded in the preceding month and at end-December 2012, respectively.”
According to the CBN, the major sources of funds in June 2013 were from declines in reserves and increases in demand deposits by N383.5bn and N205.7bn, respectively.