UBA delivers respectable toplines as revenue rises 6.9% to N658.3bn
Charles AbuedeMarch 10, 2022
BY: CHARLES ABUEDE United Bank of Africa, which prides itself as African global bank, saw its topline numbers come home respectfully in 2021 with gross earnings rising 6.9 percent year on year to N658.3 billion from N615.8 billion in 2020. The positive gross earnings were driven by driven by a solid 22.1 percent year on […]
Zenith Bank’s shareholders set for N2.80k dividend on N756bn earnings
Charles AbuedeMarch 3, 2022
BY: CHARLES ABUEDE Shareholders of Zenith Bank, the pioneer status symbol of Nigeria’s well regarded ‘new generation’ banks, are getting set to approve a final dividend payout of N2.80 per share, following boosts to the bank’s earnings from trading income, net fees and commission that helped to push the earnings of the Nigerian lender to […]
CRR: CBN debits banks to the tune of N120.2 billion
Wale AmeenMay 25, 2021
Wale Ameen Online Editor Reports have it that the Central Bank of Nigeria has debited banks a total of N120.2 billion. According to Nairametrics, the sum was deducted from banks’ as a CRR debit. So far, over N10 trillion has been sequestered from banks’ in the last year and half. The Cash Reserve […]
Access Bank berths fully in South Africa after Grobank takeover
Charles AbuedeMay 6, 2021
Charles Abuede Weeks after receiving regulatory approval for the formal acquisition of South Africa’s Grobank Limited, leading Nigerian lender, Access Bank, has announced that its South African subsidiary, Access Bank South Africa Limited, has been officially birthed following the completion of all regulatory procedures. This new development will position the South African subsidiary of Access […]
We have always played by the rules! Honeywell Group says as it reacts to First Bank – CBN face-off
Wale AmeenMay 3, 2021
…Says loan facilities adequately secured with First Bank, with collaterals in place at over 170% of Forced Sales Value and 230% at Open Market Value. Wale Ameen Online Editor The Honeywell Group has reacted to the ongoing drama going on between First Bank and Nigeria’s regulatory bank, the Central Bank of Nigeria due largely […]
Volume of mobile transactions in Nigeria surged 82.6% y/y to 1.7bn in 2020, report shows
Charle AbuedeApril 17, 2021
Charles Abuede A recent report obtained from the Nigerian interbank settlement system (NIBSS) has revealed that there was an acceleration in the adoption of instant payments ports in the year 2020 as the Nigerian population transitioned to other transaction channels electronically for funds and exchange in the wake of the imposed lockdowns by the […]
Banks to begin accepting new cheque books by April 1st
Arakunle KayodeMarch 31, 2021
Arakunle Kayode All Deposit Money Banks will from Thursday April 1st begin accepting only new cheque books across the country. This is in line with a directive earlier issued by the Central Bank to all banks. The Central Bank of Nigeria (CBN) had directed that from Thursday, April 1st 2021, all old cheque books […]
GTBank in acquisition talks with Kenyan lender in continent-wide expansion drive
Charles AbuedeMarch 25, 2021
Awaits regulatory approval to transition into financial HoldCo by H1 2021 Charles Abuede Nigeria’s biggest lender, Guaranty Trust Bank, has entered into discussions to acquire a Kenyan lender as part of its expansion on the continent, according to Segun Agbaje, the bank managing director. It can be recalled that in early November 2020, […]
FCMB wins Asian Banker’s ‘Best SME Bank in Africa’ award
Charles AbuedeNovember 10, 2020
By Charles Abuede First City Monument Bank (FCMB), a foremost financial services provider in Nigeria, has been voted the ‘Best SME Bank in Africa’, at the Asian Banker Middle East and Africa Regional Awards held virtually last week. The annual award, which was organised by the Asian Banker to recognise what it described as […]
Access Bank makes strategic investments in southern African markets, expands African footprints
ABC Zambia, Gro CapitalSeptember 30, 2020
Acquires ABC in Mozambique Raises stake in GroCapital Transaction, acquisition await regulatory approvals To become HoldCo with CBN’s Approval-in-Principle Charles Abuede Access Bank, Nigeria’s Tier-1 lender, continues to make its African push in line with its strategy to become world’s most respected African bank, with the final acquisition of African Banking Corporation in Mozambique […]