Stanbic IBTC to publish list of loan defaulters


Mrs Sola David-Borha, Stanbic IBTC, MD
LAGOS, June 17 (Reuters) – Nigeria’s Stanbic IBTC, the local unit of South Africa’s Standard Bank, said on Wednesday it will publish the list of loan defaulters in line with a new directive by the central bank.
Stanbic IBTC would be among the first banks to publish such a list after the regulator ordered lenders in April to crack down on non-performing loans to forestall a repeat of a 2009 industry bailout that cost the government $4 billion.
The new plan requires banks to give bad debtors three months to square their accounts, following which they would …Read More

Source:: PM Newspaper