The Nigeria Deposit Insurance Corporation (NDIC) on Tuesday released its 2015 performance score-card, indicating that its operating surplus jumped by N14.85 billion or 95.68 per cent to N30.23 billion, compared previous year’s N15.38 billion.

Of this amount, the corporation said it remitted the total of N24.185 billion 80 per cent of its operating surplus to the Consolidated Revenue Fund of the Federation in line with provisions of the Fiscal Responsibility Act within the period, up from N15.38 billion in 2014.

A statement summarising the year’s performance, the corporation assured that the industry remained “stable and sound during the period under review,” with total assets growing by a marginal 1.36 per cent, just as “total loans and advances rose by 5.56 per cent, shareholders’ funds unimpaired by losses increased by 14.02 per cent while capital adequacy ratio stood at 17.66 per cent. However, total deposit liabilities declined by 2.83 per cent, unaudited profits decreased by 2.02 per cent while non-performing loans increased by 82.87 per cent in 2015.

“The capital adequacy ratio (CAR) of the banking industry was 17.66 per cent in 2015 compared with 15.92 per cent in 2014, but exceeded the minimum threshold of 10 per cent and 15 per cent for national and international banks respectively. Two (2) DMBs had CAR below the prescribed threshold of 10 per cent in 2015.

“Total loans and advances to the Nigerian economy stood at N13.33 trillion in 2015, showing an increase of 5.56 per cent over the N12.63 trillion reported in 2014. The non-performing loans to total loans ratio for the industry increased from 2.81 per cent in 2014 to 4.87 per cent in 2015, but was within the regulatory threshold of 5 per cent ”

Continuing, the NDIC noted that earnings and profitability in the industry, although they deteriorated, with unaudited industry profit before tax (PBT) at N588.86 billion, down by 2.02 per cent from the N601.02 billion reported in 2014. The industry’s liquidity position also remained strong at an average ratio of 58.18 per cent, from 53.65 per cent in 2014, just as the individual DMBs having liquidity ratios above the 30 per cent prudential minimum threshold.

Meanwhile, incidences of fraud rose by 15.71 per cent to a total of 12,279 cases reported in 2015,from 10,612 in 2014, while the amount involved fell by N7.59 billion or 29.63 per cent from N25.608 billion in 2014 to N18.021 billion in 2015. Actual loss suffered by the banks however decreased by N3.02 billion or 48.79 per cent from N6.19 billion in 2014 to N3.17 billion in 2015, with internet banking fraud accounting for N857 million, or 27 per cent of total actual loss. Also, the frequency of cases involving ATM/Card-related fraud cases jumped from 7,181 in 2014 to 8,039 in 2015, an increase of 11.95 per cent.

“The loss suffered by the industry due to such frauds declined significantly by 59.4 per cent from previous year figure of N1.242 billion to N0.504 billion, representing 15.9 per cent of total industry loss to frauds and forgeries,” the statement noted, adding that 425 of such cases were attributed to staff. This represents a decrease from 465 in 2014, even as “losses arising there from substantially decreased by 70 per cent from N3.165 billion in 2014 to N0.979 billion in 2015.

“The highest percentage of frauds and forgeries cases of 38.59 per cent was perpetrated by temporary staff.”