Banks’ software investment rises 55% to N120bn

The investment of 10 Nigerian Deposit Money Banks in software, which has accrued over the years, reached N120bn as of December 31, 2018, investigation has shown. This investment grew by 55 per cent in two years from the N77.35bn the banks collectively reported in their financial report ended December 31, 2016. The software is regarded […]

Humbled Deutsche Bank faces battle in its own backyard

Online retailer Zalando is just the kind of fast-growing German business with foreign expansion plans that Deutsche Bank chief executive Christian Sewing needs to help drive the struggling lender’s recovery. In an attempt to draw a line under years of scandals and heavy losses, Sewing is pulling back from investment banking and rebuilding Deutsche Bank’s […]

Agusto & Co. assigns “Aa-” rating to UBA

Agusto & Co. limited has just assigned an “Aa-” rating valid till June 30, 2020 to United Bank for Africa (UBA) Plc. According to the ratings agency, the newly assigned rating to UBA reflects the Bank’s performance as underpinned by its good liability generation strategy and upheld by a strong brand franchise. This is in […]

UK banks can cope with no-deal Brexit and trade war: BOE

British banks hold enough capital to cope with a simultaneous disorderly no-deal Brexit and global trade war, the Bank of England said on Thursday as part of its half-yearly assessment of financial risks. In an assessment that raised little in the way of new concerns, the BOE confirmed it would intensify its focus on risks […]