FCMB’s profit before tax climbs 73.2% to N15.4bn in H1 2022
Onome AmugeJuly 29, 2022
By Onome Amuge. FCMB Group Plc has announced its half-year financial results for the six months ended June 30, 2022, revealing a profit before tax of N15.4 billion, a 73.2 percent year-on-year growth compared to N8.9 billion in the corresponding year of 2021. The group’s unaudited half-year results released on the floor of the Nigerian […]
AfDB woos American businesses to investment opportunities in Africa
Onome AmugeJuly 27, 2022
BY Onome Amuge. The African Development Bank Group (AfDB) has called on American businesses to invest in the opportunities created by the bank’s $1.5bn African Emergency Food Production Facility, established to curb the impact of the current global food crisis worsened by Russia’s invasion of Ukraine. The AfDB’s facility, recognised as the first of its […]
Access Bank, U.S. DFC partnership yields $280m to boost SME financing
Businessam StaffJuly 25, 2022
BY BUSINESS A.M. REPORTER A new partnership between Nigeria’s Tier-1 lender, Access Bank and the United States International Development Finance Corporation (DFC) is primed to yield $280 million that will be channelled to boosting the financing needs of small and medium enterprises (SME). The deal to make this happen was signed between Scott Nathan, chief […]
Ecobank extends remittance services to Nigerian business account holders
Onome AmugeJuly 25, 2022
By Onome Amuge. Ecobank has announced the extension of its innovative remittance services to enable business account holders to receive and enjoy more robust remittance services from anywhere in the world via the Ecobank Rapid Transfer service. The development, according to the bank, is to enable Nigerian business account holders receive funds sent through Ecobank […]
Access Bank opens applications for its 4th Womenpreneur Pitch-a-Ton Africa
Chisom NwatuJuly 25, 2022
BY Chisom Nwatu. Access Bank has called on women entrepreneurs globally to apply for the 4th edition of its Womenpreneur Pitch-a-Ton Africa in continuation of its effort to empower female entrepreneurs with financial and business skills. Abiodun Olubitan, group head, W Initiative, Access Bank Group, disclosed this at a media roundtable for the unveiling of […]
Zenith retains Nigeria’s number one bank position for 13th consecutive year
Onome AmugeJuly 25, 2022
BY Onome Amuge. Zenith Bank Plc has been ranked the number one bank in Nigeria by Tier-1 capital in the 2022 Top 1,000 World Banks ranking published by The Banker Magazine, an international affairs publication owned by the Financial Times Ltd. The Nigeria-based multinational financial service provider amassed a Tier-1 Capital of $2.75 billion to […]
Nigeria’s central bank raises benchmark lending rate to 14% to tame inflation
Chisom NwatuJuly 19, 2022
BY Chisom Nwatu. The Central Bank of Nigeria has increased the Monetary Policy Rate (MPR) by 100 basis points to 14 percent, a move it believes would promote stability in the midst of rising inflation. Godwin Emefiele, the CBN governor, announced the decision on Tuesday, 19 July, 2022 at the end of a two-day meeting […]
UBA Group eyes $7.7trn MEASA economy in DIFC, Dubai landing
PHILLIP ISAKPAJuly 18, 2022
A grouping of at least 72 countries, three billion people and a gross domestic product (GDP) size of $7.7 trillion appears to have strongly grabbed the attention of the board of Nigeria-headquartered Africa’s global bank, United Bank for Africa (UBA), enticing it to make a landing in Dubai, the United Arab Emirates (UAE) in its […]
At first anniversary, LOTUS forays into agency banking to deepen operation
Chisom NwatuJuly 14, 2022
BY Grace Airhule LOTUS Bank, a non-interest Nigerian bank, has expanded into agency banking with a new branch in the country’s commercial centre of Lagos in order to deepen its operation. The bank, as part of its first anniversary, commissioned its 20th branch in Idumota, Lagos Island, and launched its first agency banking, LOTUSMART, to […]
Standard Chartered co-sponsors 2022 Global Trade Review conference
Anita OkoroJuly 7, 2022
By Anita Okoro Standard Chartered Bank participated as a gold sponsor at the 2022 GTR West Africa conference held in Lagos recently. The event, which focused on ‘Pinpointing opportunities in a volatile trade environment’, attracted over 400 delegates with participation across over 300 companies, and over 40 speakers who are subject matter experts from corporates, […]