N25b Capital: Banks to Merge Along Settlement Groupings.

(From Vanguard (Nigeria) - AAGM)

Byline: Omoh Gabriel, Business Editor

THERE are indications that banks are now favourably disposed to merger after considering the various options available to them on account of the introduction of the N25 billion capital base.

Specifically, the committee set up by the Bankers Committee to examine the situation and make recommendations to the body and government through the CBN is said to have recommended that banks merge along the groupings in the settlement bank arrangement.

Bankers said last night that the sub committee agreed that mergers should be considered along the line of grouping of banks in the …