Nigeria banking assets now N17.97trn

• The total assets of the Nigerian banking industry hit N17.97 trillion as at Dec 31, 2010 by Agusto & Co, which is a 12% increase from 2009
• The banking sector gross earnings was N1.7 trillion in 2010 which accounts for 7% of the nation's GDP
• Credit penetration in Nigeria remained low at 24.9% of GDP at year end 2010
• These 3 sectors; manufacturing, oil & gas and importers of consumer goods accounted for about 49% of the industry's consolidated lending
• The banking industry only lent 3% of its total loans to individuals in 2010
• At Dec 2010, the industry's non-performing credits declined from N2.9 trillion in 2009 to N1.1 trillion in 2010
• The real estate sector accounted for 12% of the industry's non-performing loans