FirstBank moves to deepen intercontinental partnerships with China
Adesola Afolabi
July 23, 2018
First Bank of Nigeria Limited has announced strategic steps it is taking to deepen the intercontinental partnerships with its Chinese business forum. The bank it is positioning to offer benefits to its customers from the recent swap deal conducted between China and Nigeria, especially through its Beijing representative office opened 8 years ago. The Central […]
Protests at our Lagos offices handiwork of few disengaged drivers of vendor companies, says Fidelity Bank
Businessam StaffJuly 18, 2018
Fidelity Bank said few disengaged drivers of their vendor companies were the masterminds of protests at some of its Lagos offices Wednesday, and that the bank is not owing staff salaries as has been alleged by the protesters. In a statement made available to business a.m., the bank said, “Our attention has been drawn to […]
Wema bank grows profit 28.8% in H1 2018
Adesola AfolabiJuly 17, 2018
Wema Bank Plc. has reported a 28.8 percent increase in its profit for half-year ended June 30, 2018. Profit for the bank grew from N1.2 billion in June 2017 to N1.6 billion in June 2018 on account of a 526 percent boost in net trading income and a N12.5 million or 2.5 percent decline in […]
Transcorp Nigeria declares 163% PAT growth as analysts recommend ‘buy’ of its shares
Afolabi OluwaseunJuly 16, 2018
Transnational Corporation of Nigeria Plc. (Transcorp), Nigeria’s foremost conglomerate, has announced financial results for its half year ended June 30, 2018, showing significant growth in top line and bottom-line indicators, which has prompted analysts to recommend a buy status on the shares of the company. The company recorded N10.8 billion as profit after tax (PAT) […]
C&I Leasing completes buyout of petrotech JV minority shareholders, takes 100% ownership
Adesola AfolabiJuly 12, 2018
C &I Leasing Plc., a leasing and business service conglomerate has just concluded the buyout of minority shareholders of Petrotech Marine Ltd- a joint venture company, whose stakes amounted to 27.5 percent. As a result of this transaction facilitated by Wizer Advisory engaged by the parties as an independent advisor for the valuation of the […]
Coronation Merchant Bank names Banjo Adegbohungbe executive director/COO
Adesola AfolabiJuly 12, 2018
The board of directors of Coronation Merchant Bank Limited has announced the appointment of Banjo Adegbohungbe as an executive director and chief operating officer of the bank. According to a statement from the firm, he will be responsible for the operations, information technology, digital channels and administrative divisions of the bank and its subsidiaries. “As […]
UBA emerges best in digital banking across Africa
Adesola AfolabiJuly 12, 2018
United Bank for Africa Plc. (UBA) has been named Africa’s best bank in the digital category at the prestigious Euromoney awards in London. The bank in a statement Thursday said the latest addition to its growing list of enviable laurels is an affirmation of its recent investment in cutting edge technology, one of which gave […]
Universal Insurance cites late NAICOM’s approval for continued delay in release of FY2017 results
Afolabi OluwaseunJuly 12, 2018
Universal Insurance Plc., has said late approval of its accounts by the regulatory authorities including the National Insurance Commission (NAICOM) is the main reason for the continued delay in the release of its full year 2017 results. The insurance company disclosed this Thursday in a notice to stakeholders and the general public, saying that it […]
Sterling Bank announces board appointments
Afolabi OluwaseunJuly 11, 2018
Sterling Bank Nigeria Plc. has announced the appointment of two directors following approval by the Central Bank of Nigeria (CBN). The two new directors are Folasade Kilaso as a non-executive director and Michael Ajukwu as an independent director. Folasade Kilaso is a Nigerian and UK qualified solicitor, who studied law at the University of Kent, […]
Africa’s infrastructure investment forum to announce shareholders, investment updates at 19 July meeting
Adesola AfolabiJuly 11, 2018
Africa50, the pan-African infrastructure platform, is set to hold its third General Shareholders Meeting (GSM) in Nairobi, Kenya where new shareholders and updates on investments will be shared. At the meeting, Alain Ebobisse Africa50 CEO, will provide operational and strategic updates on fundraising and capital increase activities, including an overview of the fund’s growing investment […]