Fixed Income Analysis /
Nigeria

NIGERIA BANKS: We've come a long, long way

    Tolu Alamutu
    Tolu Alamutu

    Credit Research Analyst, Banks

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    Tellimer Research
    13 June 2017
    Published byTellimer Research
    It’s been a good year so far: Most bonds are now quoted at, or close to, 2016TD tights. The exceptions are FBN, Ecobank Nigeria and Diamond Bank bonds. Of these three issuers, only the DIAMBK bond is more than 100bp off the 2016TD tights.