Nordic bank says won’t take corporate cash in deposit accounts

Danske Bank A/S is telling corporate clients to think hard about what to do with their excess cash before December 31, because Denmark’s biggest lender doesn’t want it in deposit accounts. After a world-record-setting half decade of negative interest rates, Denmark still has a few surprises up its sleeve that show how such a monetary […]

FCMB Group: Mild earnings recovery expected in H2’17

CardinalStone Research Earnings to improve in H2’17 FCMB’s H1’17 financial performance came in weaker as top and bottom line declined by 12.2% and 80.2% respectively following prior year’s high base. In particular, non-interest income moderated by 45.4% due to the high base from last year (following significant FX revaluation gains reported post-currency devaluation – H1’16: […]

Ghana banks seek to boost deposit with mobile money

A record number of Ghanaians are saving money using mobile phones as lenders push products to lure deposits using technology that is cheaper than building branches, according to a Bloomberg report. Deposits with mobile-money providers jumped 25 percent to 1.57 billion cedis ($360 million) this year through April, the Accra-based central bank said in a […]

Access Bank wins Karlsruhe Sustainability Award, second year in a row

Access Bank Plc has won the Karlsruhe Sustainable Finance Awards for the second year running. The award tagged “Outstanding Business Sustainability Achievement Award 2017” was received by the bank in Germany recently. The award was presented to Herbert Wigwe, managing director of Access Bank in Karlsruhe, Germany’s most sustainable city a year after Access Bank […]

Nigeria banks raise dollar-spending limits on improving forex liquidity

In an apparent show of a return to foreign exchange liquidity, most Nigerian lenders have increased spending limits on their payment cards abroad. E-mail statements and messages from the banks to their customers relish their current liquidity profile, asking customers to take up the opportunity and enroll in their card programmes. The moves by the […]

Banks begin London exodus as hopes of transitional deal fade

While that is the premise of Snap Inc’s popular messaging platform, investors also saw any gains from its red-hot IPO disappear when shares plunged far below their initial sale price on Tuesday. Morgan Stanley, a lead underwriter on the company’s initial public offering, slapped a price target of $16 on the stock – a buck […]

Bank of Japan buying fewer bonds without spooking investors

The European Central Bank is now wrestling with a problem facing monetary policy makers around the western world—dialing back stimulus without upending financial markets. But one central bank has been quietly balancing this act since late last year, buying fewer bonds without spooking investors: the Bank of Japan, reports Wall Street Journal (WSJ) On Thursday, […]

Barclays Africa to fight $86 Million payout over Bankorp

Barclays Africa Group Ltd., the South African bank formerly known as Absa, will go to the country’s high court to challenge a decision that it should pay the government 1.125 billion rand ($86 million) over the apartheid-era acquisition of Bankorp Ltd. “This is due to numerous misrepresentations and factual inaccuracies which form the basis of […]