Fidelity Bank denies alleged sack of drivers
Businessam Staff
July 25, 2017
Fidelity Bank Plc has denied reports that it terminated the employment of some of its drivers without adequate compensation. In a statement signed by Charles Aigbe, Divisional Head, Brand & Communications of the bank, as a result of the false report, a group was planning to picket the institution. An extract from the bank’s statement, “our […]
Bank of America picks Dublin as EU base after Brexit
Businessam StaffJuly 21, 2017
Bank of America on Friday became the first Wall Street lender to pick Dublin as its new base for its European Union operations as Britain prepares to leave the bloc, according to Reuters. International banks are planning to set up subsidiaries in the EU to ensure they can continue to serve clients, if their London […]
Wema bank plans equity raise next year to bolster capital ratio
Businessam StaffJuly 20, 2017
Wema Bank Nigeria plans to raise equity next year to bolster its capital ratio and cut its operating costs as its new digital strategy gains traction, a senior executive said Thursday. According to Reuters’ report, The mid-tier lender said it cut loan growth this year to between one to two percent of total loans, down […]
Aggressive debt recovery seen to put back Nigeria’s Skye Bank on track
Businessam StaffJuly 18, 2017
Skye Bank’s renewed commitment to debt recovery and profitability is paying off as the bank has reportedly raked in over N60 billion from its debtors through aggressive and robust debt recovery efforts in the last one year. The Management of the Bank made this disclosure in a statement issued to update stakeholders of milestones recorded […]
Lloyds seeks new London office in $100 million cost push
Businessam StaffJuly 18, 2017
Lloyds Banking Group Plc is in talks to lease a new London office with room for about 1,000 workers in an effort to consolidate its locations in the capital and help save 100 million pounds ($130 million), two people familiar with the plan said. The U.K. bank is in discussions with law firm CMS Cameron […]
Stanbic IBTC appoints Fabian Ajogwu independent non-executive director
Businessam StaffJuly 4, 2017
The board of directors of Stanbic IBTC Holdings Plc has approved the appointment of Professor Fabian Ajogwu, SAN as an independent non-executive director of the company with effect from July 03, 2017, following the receipt of all required regulatory approvals. In a statement signed by Chidi Okezie, the company secretary, and released on the Nigerian […]
Afrexim Bank lifts Dangote with $1bn loan in move to strengthen businesses on the continent
Businessam StaffJuly 3, 2017
The African Export Import (AFREXIM) Bank has approved a $1billion loan for Dangote Group of Companies as part of its effort in strengthening businesses on the continent. The memorandum of understanding for the loan was signed at the 24th Annual General Meeting of the bank holding in Kigali, Rwanda. Paul Oramah, AFREXIM Bank’s president said […]
Kenya’s Barclays Bank to shut down seven branches
Businessam StaffJuly 3, 2017
Barclays Bank of Kenya said on Monday it plans to close seven of its branches in the East African country in October as part of cost cutting measures, Reuters reports. The bank is part of Barclays Africa, where majority owner Barclays Plc is reducing its stake It said the customers who hold accounts in the […]
Monarch commends Skye Bank for rewarding loyal customers
Businessam StaffJuly 2, 2017
Oba Saliu Adetunji Aje Ogungunniso 1, the Olubadan of Ibadan, has commended Skye Bank Plc., for rewarding loyal customers and helping them grow their businesses. He said this during the presentation of N1 million cheque to Ahmed Eniola Tolani, a civil servant who emerged the fourth lucky winner in the bank’s on-going “Reach for the […]
Ecobank’s $400m convertible bond to include 6.7bn share option
Businessam StaffJune 28, 2017
Ecobank Transnational Incorporated (ETI) Plc, the pan-African financial services holding company for the Ecobank group, is billed to issue about 6.7 billion ordinary shares under a $400 million convertible bond issue already authorized by its shareholders. Businessamlive gathered that the convertible bond issue will include equities option that allows unit holders to convert their bonds […]