Customer data leaks could spell doom for local banks

“The sector is witnessing good credit growth supported by non-performing loans coming down,” the association said, adding that the industry is expanding points of presence to increase outreach via agent banking and use of electronic channels intended to lower the cost of delivering financial services.

Going forward, UBA said that whereas banking and the overall financial services sector remains stable and resilient, maintain ingits stability “remains a responsibility for all the stakeholders – customers, regulators and financial institutions.”