Fidelity Bank reaches out to customers with digital banking campaign
Businessam Staff
April 10, 2018
Fidelity Bank began a renewed move to reach out to its customers Monday when it flagged off what it called a digital banking awareness campaign week in Lagos. Dubbed “Go Digital” the week-long campaign is being championed by the bank’s south-west directorate and while it is on, would involve creating awareness for the bank’s electronic […]
FCMB Group offers 10k dividend on 29.6% fall in FY 2017 profit
Businessam StaffApril 4, 2018
FCMB Group Plc. has released its financial statements for the year ended December 2017, recording a 29.6 percent drop in earnings before tax from N16.2 billion in 2016 to N11.4 billion in 2017. Similarly profit after tax fell to N9.4 billion in the review period from N14.3 billion in 2016, representing a decline of 34 […]
GTBank seeks to create more value for customers, collaborates with FinTechs
Goddey OdinMarch 1, 2018
Segun Agbaje, the managing director Guaranty Trust Bank (GTBank) Plc, asserted that banks and financial technology (FinTechs) need to partner to create more value for their customers. The bank’s MD said this while speaking at the ongoing Social Media Week (SMW), at the Landmark Event Centre, Lagos. He said the meeting was also about collaboration […]
Fintech boosts financial inclusion rate in Africa to 34%
Businessam StaffFebruary 14, 2018
Ecobank, the pan-African banking group, has highlighted the complementary role of fintech in financial inclusion on the continent, saying that fintech has helped boost inclusion rate to 34 percent. In an announcement of its role as sponsor of the 2018 Africa Tech Summit, which opens Today, Wednesday, February 14, 2018, in Kigali Rwanda, the bank […]
BoE keeps rate at 0.5%, warns rate hike sooner than expected
Businessam StaffFebruary 12, 2018
The Bank of England voted unanimously to keep the Bank Rate at 0.5 percent on February 8th as widely expected, saying that inflation is expected to remain around 3 percent in the short term, reflecting recent higher oil prices. The bank also warned that interest rates may rise sooner than anticipated, as the economy will […]
UBA launches chat banker on Facebook Messenger to ease e-banking transactions
Businessam StaffJanuary 12, 2018
United Bank for Africa (UBA) has launched an e-banking solution, Leo Chat Banker, to enable customers use their social media accounts to carry out key banking transactions. At the official launch of Leo, which took place in Lagos Thursday, customers of the bank were given a step-by-step demonstration on the novel way of delivering lifestyle […]
Afreximbank taps Islamic finance to support Africa trade
Businessam StaffJanuary 9, 2018
The African Export-Import Bank (Afreximbank) has raised around $260 million via three sharia-compliant facilities to support small- and medium-sized businesses in the region, as African markets gradually open to Islamic finance. Cairo-based Afreximbank, which was founded by African governments and other investors in 1993 and focuses on trade finance, obtained a $100 million financing from […]
New EU rules increases competition and security between banks, fintech
Huw JonesNovember 28, 2017
The European Commission approved rules on Monday to increase competition and toughen up security in how people pay for goods and services across the European Union, pitting banks against financial technology firms. The rules flesh out an update to the bloc’s payment services law and are among the most disputed in recent financial regulation, sparking intense lobbying […]
Bank deposits no longer off limits as European Central Bank seeks power to freeze
Businessam StaffNovember 14, 2017
The European Central Bank intensified its push for a tool that would hand authorities the power to stop deposit withdrawals when a bank is on the verge of failing. Sabine Lautenschlaeger, ECB executive board member said, according to Bloomberg report, that bank resolution cases this year showed that a so-called moratorium tool, which would temporarily freeze […]
Wema Bank harps on savings as tool for social, economic security
Businessam StaffNovember 1, 2017
Ademola Adebise, deputy managing director of Wema Bank Plc, has harped on the need for Nigerians, especially the youth, to take savings seriously in order to secure their future. Adebise made the urge Tuesday in Benin City, Edo state while addressing students of Edokpolor Grammar School in an interactive session to mark this year’s World […]