Fidelity Bank sees H1 2018 post tax profit grow by 31% to N11.8bn

Fidelity Bank

Fidelity Bank Plc. Wednesday released its half year financials for the period ending 30th June 2018, recording a 31 percent increase in profit after tax. The lender grew it’s post tax profit to N11.8 billion from N9.0 billion recorded in the same period of 2017, on account of a four percent growth in gross earnings […]

Nigeria’s senior bankers, insurers praise central bank’s takeover of Skye Bank, urges best practice in sale process

Skye Bank, Insurers

The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) praised the Central Bank of Nigeria (CBN) on Wednesday over the revocation of the operating license of Skye Bank. The union said the N786 billion injection by the apex bank, which birthed Polaris Bank, is a courageous move at ensuring the efficiency of […]

Heritage Bank seeks sustained collaboration between banks, fintechs on financial inclusion

Heritage Bank

Heritage Bank Plc has stressed the need for sustained collaboration between banks and financial technology companies (fintechs), to support Central Bank of Nigeria’s (CBN) drive for financial inclusion and promote economic growth. Ifie Sekibo, managing director of Heritage Bank, said this while delivering a goodwill message at the 2018 annual national conference of the Finance […]

CBN, NDIC, others to discuss financial inclusion strategies at FICAN conference

FICAN

The 2018 annual conference of the Finance Correspondent Association of Nigeria (FICAN) conference is bringing together experts from the Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC), banks, FinTechs, global multilateral financial institutions, as well as public and private sector finance industry players in the country. The two-day conference slated for September 15 […]

WorldRemit launches digital money transfers within Africa

worldremit

Leading international money transfer company, WorldRemit, has launched a new digital service within Africa, making it easier to send and receive money across the continent. The new digital service will reduce the cost of sending money across borders. The prohibitive charges that individuals and businesses pay to transfer money within Africa are recognised as a […]

Foreign subsidiaries contribute 40% to UBA’s half year growth

UBA

Foreing subsidiaries contributed 40 percent to the growth recorded across key performance indicators by Nigerian lender, United Bank for Africa Plc (UBA), its audited 2018 half year results have shown. Despite a declining yield environment in two core markets, Nigeria and Ghana, the pan Africa financial institution delivered double digit growth in gross earnings, as […]

Access Bank declares N39.6bn profit, 25k interim dividend for H1 ’18

Access Bank

Access Bank Plc has declared a profit after tax of N39.625 billion and also offered an interim dividend of 25 kobo per share, amounting to N7.23 billion in its half year financial results submitted to the Nigerian Stock Exchange (NSE) Wednesday. The bank recorded gross earnings of N253.024 billion as against N246.575 billion in the […]

FBNQuest Merchant Bank assigned an “A” rating by Agusto & Co.

Agusto & Co., FBNQuest

Agusto & Co. said on Thursday that it has assigned an “A” rating to FBNQuest Merchant Bank Limited. The rating reflects the bank’s affiliation with FBN Holdings, the non–operating holding company of one of the largest banking and financial services organisations in Africa with an asset base of ₦5.2 trillion as at 31 December 2017. […]

Nigeria’s central bank reports 33% decline in net income for FY2017

Central Bank,MPC, CBN, Nigeria's Central Bank

The Central Bank of Nigeria (CBN) has released its audited financial statements for the year ended 31st December 2017 showing net income for the bank depreciated 33 percent from N104.9 billion recorded in the same period of 2016 to N70.2 billion. Although the results released Thursday, August 16th 2018 indicated that gross revenue was N2.2 […]