From N33.85 trillion at the end of June 2021 to N42. 03 trillion in the same time of 2022, the total deposits in the banks increased by 24.17%. Aishah Ahmad, the Deputy Governor of the Financial Systems Stability Directorate, revealed this.
The overall assets of key industry aggregates increased year over year, from N53.64 trillion in June 2021 to N65.48 trillion in June 2022, while total deposits increased by the same amount, from N33.85 trillion to N42.03 trillion.
The financial sector, especially bank deposits, had some notable expansion over the period, according to MPC member Folashodun Shonubi.
Prudential indicators in the banking industry remained within acceptable ranges, demonstrating the sector’s resilience, he said.