This report looks at the link between the financial service sector and the O&G sector and points out the significance of the sector to the quality of bank's statement of financial position and the size of their bottom lines. It draws attention to the anomalous state where banks thrive as O&G companies' pine. If O&G companies represent a significant proportion of bank books, then their fortunes and misfortunes should reflect in bank profitability contrary to recently published deposit money bank (DMB) results up to 9 months 2020.