Nigeria’s Fidelity bank said on Monday it had put a 22.4 billion naira ($113 million) loan to Lagos-listed energy firm Oando Plc on a watchlist and taken a special provision of 5 percent.
The mid-tier commercial lender said on an analysts’ call that the Oando loan accounted for 3.7 percent of its total loan book and 15.2 percent of its energy loan book.
Chief Executive Nnamdi Okonkwo said the lender missed its loan growth target for 2015, which it had originally put at 10 percent. The bank said loans grew 6.7 percent last year.
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