Fidelity Bank reaches out to customers with digital banking campaign

Fidelity Bank

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

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

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%

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

Interest rate

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 […]

Afreximbank taps Islamic finance to support Africa trade

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 […]

Bank deposits no longer off limits as European Central Bank seeks power to freeze

Sabine Lautenschlaeger

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

Wema Bank

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 […]