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Abuja - (09)2780300 Lagos - (01)2773210 customer.complaints@amcon.com.ng whistleblowing@amcon.com.ng |
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Abuja - (09)2780300 Lagos - (01)2773210 customer.complaints@amcon.com.ng whistleblowing@amcon.com.ng |
"To be a key stabilizing and re-vitalizing tool in the Nigerian economy."
Loans purchased from various Eligible Financial Institutions (EFIs)
AMCON has acquired the Eligible Bank Assets (EBAs) or Non-performing Loans (NPLs) of various Eligible Financial Institutions (EFIs) in three different phases/ tranches. The top 5 EFIs represent 58.18% of all purchased EBAs. The table below summarizes the corporation's position by institution:
|
Eligible Financial Institutions |
Number of Loans |
Percentage of AMCON Portfolios |
|
Intercontinental Bank |
1,735 |
14.62% |
|
Oceanic Bank |
783 |
11.58% |
|
Union Bank |
393 |
11.43% |
|
Main Street Bank |
503 |
11.40% |
|
Keystone Bank |
740 |
9.15% |
|
UBA |
3,326 |
5.80% |
|
First Bank |
289 |
5.21% |
|
Finbank |
782 |
4.04% |
|
Enterprise Bank |
1,062 |
3.59% |
|
FCMB |
575 |
2.94% |
|
Skye Bank |
158 |
2.62% |
|
Zenith Bank |
18 |
2.42% |
|
Unity Bank |
937 |
2.28% |
|
GTB |
88 |
2.25% |
|
Diamond Bank |
83 |
2.13% |
|
Ecobank |
155 |
2.07% |
|
Fidelity Bank |
271 |
1.75% |
|
Access Bank |
43 |
1.63% |
|
Sterling Bank |
176 |
1.22% |
|
Wema Bank |
237 |
1.13% |
|
ETB |
171 |
0.59% |
|
Stanbic IBTC |
12 |
0.13% |
|
Total |
12,537 |
100% |
LOAN DISTRIBUTION 
The Loan Management Team classifies loans based on their size; Small (N100m and below), Medium (Between N100m and N1b), Large (Between N1b and N10b and Strategic (Over N10b). The Loan distribution Table shows that Strategic Loans make up the greatest percentage (40%) of AMCON's portfolio.
|
Loan Distribution |
Percentage of AMCON Portfolio |
Number of Loan |
|
Over N10b |
40% |
62 |
|
Between N1b and N10b |
37% |
431 |
|
Between N100m and N1b |
16% |
1,998 |
|
Between N100m and below |
7% |
10,046 |
|
Total |
100% |
12,537 |
TOP 5 SECTORS OF ALL PURCHASED EBAs 
Table 2 shows a breakdown of the top five sectors in which the EBAs originate from. They represent 75.35% off all EBAs purchased.
|
Sector |
Percentage of AMCON Portfolio |
|
Oil and Gas |
27.23% |
|
General Commerce |
18.49% |
|
Capital Market |
17.93% |
|
Manufacturing |
6.24% |
|
Finance and Insurance |
5.47% |
ASSET CLASSIFICATION
The table below represents AMCON's Asset Classification of the underlying assets used to secure loans bought from EFIs.
|
Asset Classification |
Percentage of AMCON Portfolio |
Number of Loans |
|
Combination of Assets |
13% |
103 |
|
Debentures |
15% |
295 |
|
Mortgage |
20% |
2,096 |
|
Others |
6% |
795 |
|
Shares |
22% |
4,105 |
|
Shares & Mortgage |
4% |
20 |
|
Unsecured |
22% |
5,123 |
|
Total |
100% |
12,537 |
| (01) 2773210 (09) 2780300 |
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AMCON was created to be a key stabilizing and re-vitalizing tool established to revive the financial system by efficiently resolving the non-performing loan assets of the banks in the Nigerian economy.
