Renaissance Capital, the emerging markets investment bank, yesterday  launched the 2011 Nigerian banking report in Lagos, re-initiating coverage on nine Nigerian banks and presenting a positive macro-economic outlook of about 8 per cent growth for the nation, following the recently concluded elections.

The report covers Zenith Bank, First Bank, Access Bank, Diamond Bank, Guaranty Trust Bank, GTB, United Bank for Africa, UBA, Skye Bank, First City Monument Bank, FCMB, and Fidelity Bank.

It also incorporated strong buy recommendation for Zenith Bank, First Bank, UBA, FCMB, Skye Bank and Fidelity Bank, as the sector looked forward to a new growth spurt as a result of the clean-up process undertaken by AMCON.