GTCO eyes business expansion with proposed N400.5bn public offer
Post AMUGE
July 9, 2024
Cynthia Ezekwe Guaranty Trust Holding Company (GTCO) Plc, one of Nigeria’s top financial services institutions, has unveiled plans to raise N400.5 billion to fund expansion initiatives across its business groups, including a recapitalisation of its banking subsidiary. To achieve this objective, the holding company plans to offer nine billion ordinary shares of 50 kobo each […]
Access Holdings secures top spot in bank strength index ranking
Post AMUGEJuly 5, 2024
Business a.m. Access Holdings PLC has emerged as the leading Tier-1 bank in the 2024 Proshare Bank Strength Index (PBSI) report, a testament to its exceptional performance and growing influence in Nigeria’s banking industry. The PBSI, which ranks banks based on a comprehensive set of financial metrics derived from their audited financial statements for the […]
NOVA Bank takes flight as national commercial bank after CBN approval
Post AMUGEJuly 3, 2024
Business a.m. Phillips Oduoza, chairman and founder of NOVA Bank NOVA Bank, formerly known as NOVA Merchant Bank, has officially transitioned into a fully-fledged National Commercial Bank, launching its first commercial banking branch at 18, Kofo Abayomi Street, Victoria Island. Building on the Central Bank of Nigeria’s (CBN) approval of its final license to operate […]
Access Holdings undertakes N351bn rights issue to strengthen financial position
Post AMUGEJuly 3, 2024
Business a.m. L-R: Bolaji Agbede, acting group managing director, Access Holdings Plc; Aigboje Aig-Imoukhuede, chairman, Access Holdings Plc, and Roosevelt Ogbonna, managing director/chief executive officer, Access Bank Plc, at the signing ceremony for Access Holdings’ Rights Issue of 17,772,612,881 ordinary shares of N0.50 each at N19.75 per share, held at Access Tower in Victoria Island, […]
FCMB-TLG private debt fund ushers investment opportunities with N10bn Series 1 launch
Post AMUGEJune 25, 2024
Business a.m. FCMB Asset Management Limited (FCMBAM) recently held a signing ceremony for Nigeria’s first Naira denominated private debt fund, the FCMB-TLG private debt fund, enroute to raising N10 billion under Series 1 of its N100 billion programme size. The Fund, which has been approved by the Securities and Exchange Commission (SEC), is sponsored and […]
Access Bank Ghana sees assets rise 22.3%, nets GHS12.30bn in FY’23
Post AMUGEJune 24, 2024
L-R: Olumide Olatunji, managing director, Access Bank Ghana; Ama S. Bawuah, board chair, Access Bank Ghana; and Helen Decardi Nelson, company secretary, Access Bank Ghana, at the 16th annual general meeting of Access Bank Ghana held at its head office in Accra, recently Business a.m. Access Bank Ghana Plc saw its total assets jump to […]
Access Bank’s African expansion continues, acquires BancABC Tanzania
Post AMUGEJune 18, 2024
Business a.m. Access Bank plc has continued its upscale African expansion with the finalisation of the acquisition of African Banking Corporation Limited (BancABC) Tanzania, thus extending its footprint on the continent and strengthening its position as a leading Pan-African financial services group. This development follows the initial announcement of the acquisition in July 2023 and […]
GTCO files preliminary prospectus, eyeing ambitious N500bn fundraising
Post AMUGEJune 18, 2024
Cynthia Ezekwe Guaranty Trust Holding Company (GTCO) Plc, recently took a significant step towards expanding its financing capacity by submitting a preliminary “red herring” prospectus with the Securities and Exchange Commission (SEC), aimed at securing regulatory clearance for the company’s plans to raise N500 billion in fresh capital. According to investopedia, a red herring is […]
Wema Bank scales regulatory hurdle following N40bn rights issue approval
Post AMUGEJune 18, 2024
Onome Amuge Wema Bank Plc has made significant progress in its capital raise programme, securing regulatory approvals for the allotment of its N40 billion Rights Issue, which was initiated in December 2023. With this milestone, the bank has successfully completed the first tranche of its ongoing recapitalisation exercise, acquiring the necessary approvals from all relevant […]
Coronation Asset Management breaks subscription record as Series 1 infrastructure fund hits 43.95%
Post AMUGEJune 18, 2024
Outperforms 33.75%, 24.70% recorded by predecessors Debutant Offer raises N8.79bn Oladele, Akinjo, head, Infrastructure Fund, Coronation Asset Management Business a.m. Reporter Coronation Asset Management Limited has made history with the closing of its inaugural Coronation Infrastructure Fund (CIF) Series 1 offer, securing an unprecedented N8.79 billion in subscriptions, amounting to an industry-record 43.95 percent subscription […]