Banking - Business Metrics

FirstBank convenes webinar on information security Friday

Apr 15, 2021 Ugochi Emmanuel

FirstBank convenes webinar on information security Friday FirstBank of Nigeria Limited, Nigeria’s leading financial inclusion services provider has announced a webinar to sensitise individuals and businesses with useful information on being protected in today’s digital age. The virtual event is scheduled to hold by noon on Friday, 16 April 2021 with “Staying Protected Amidst the Pandemic Chaos” being the topic to be discussed at the event. According to a statement from the lender, registration for the event is ongoing via the link https://firstbanknigeria.zoom.us/webinar/register/WN_PUnqA7enTMG8o0OfOaWxlg The bank explained that today’s…

Recapitalisation drive pushes Microfinance banks’ assets to N856.3bn

Apr 15, 2021 Umar Suleiman

Recapitalisation drive pushes Microfinance banks’ assets to N856.3bn The total assets of the microfinance banks rose by N97.32bn from N758.98 billion as of the end of July 2020 to N856.3 billion as of the end of September 2020 as the firms move to achieve their recapitalisation requirements. This was contained in a report by the Central Bank of Nigeria (CBN) on ‘Microfinance banks’ account (2SR) Assets’ quarterly bulletin obtained by our correspondent on Wednesday. According to the report, the figure stood at N819.77 billion as of the end…

We remain resilient with improved KPIs – Unity Bank

Apr 12, 2021Apr 12, 2021 Ugochi Emmanuel

We remain resilient with improved KPIs – Unity Bank Unity Bank Plc has expressed commitment to remain on the growth path guided by the strategic focus of its management and meticulous decisions of its board. The Bank said it has a cohesive board that is working harmoniously with the Executive Management team led by Mrs. Tomi Somefun, the managing director and chief executive officer (MD/CEO), to drive the growth of the Bank. The management of the Bank, with the support of its Board has made inroads into key…

UBA assures shareholders better times, assets hit N7.7trn

Apr 1, 2021 Business Metrics

UBA assures shareholders better times, assets hit N7.7trn United Bank for Africa (UBA) Plc on Thursday assured its shareholders and investors of enhanced returns on investments in the coming months. This, the bank said, followed its establishment of a diversified business model that would ensure impressive performance. The Chairman, UBA Group, Mr Tony Elumelu, gave the assurance at the bank’s 59th Annual General Meeting for the 2020 financial year, in Lagos. Elumelu said the bank had made strategic decisions that would strengthen its resolve to earn the industry…

FirstBank disburses N58bn credit to female entrepreneurs, professionals

Apr 1, 2021Apr 1, 2021 Omobayo Azeez

FirstBank disburses N58bn credit to female entrepreneurs, professionals Nigeria’s oldest financial institution, First Bank of Nigeria Limited has disclosed that it gave out N58 billion in loans to female entrepreneurs and professionals in Nigeria in 2020. Adesola Adeduntan, the chief executive officer of FirstBank stated this while speaking at the First Gem Annual Conference 4.0. on Wednesday, wheren he highlighted initiatives designed by the bank to encourage wealth creation and financial independence for women Adeduntan stressed that support for business aspiration of the female gender is very paramount…

Banks begin usage of revised cheques today as old one phase out

Apr 1, 2021 Banjo Olaniran

Banks begin usage of revised cheques today as old one phase out Banks have notified customers that effective on Thursday (today), the old cheque leaflets will no longer be acceptable for clearing. They also urged the customers to get the new revised cheque standard leaflets introduced by the Central Bank of Nigeria (CBN) Earlier, the apex bank had extended the phase-out date for old cheque books from January 1 to March 31. The banking regulator said this became imperative due to the effect of the COVID-19 pandemic. In…

FirstBank announces the fourth edition of its FirstGem Annual Conference

Mar 28, 2021 Banjo Olaniran

FirstBank announces the fourth edition of its FirstGem Annual Conference First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider has announced the fourth edition of its annual FirstGem Conference, tagged FirstGem 4.0. The 2021 event is themed ‘The Art of Negotiation’ and convened to provide women with insights on the secrets of wealth management, investment and savings. According to press statement obtained from the lender in Sunday, FirstGem 4.0 is scheduled to hold on Wednesday, 31 March 2021. Participants are required to register via the link…

Access Bank receives regulatory approval to acquire South African lender

Mar 26, 2021Mar 28, 2021 Ugochi Emmanuel

Access Bank receives regulatory approval to acquire South African lender Access Bank says it has acquired regulatory approval for its proposed acquisition of Grobank Limited, a South African bank. This was announced in a statement signed by Sunday Ekwochi, the company secretary, on Friday. According to the statement filed at the Nigerian Stock Exchange (NSE), Grobank, formerly known as South African Bank of Athens, is a financial firm committed to supporting the food and agriculture value chain in South Africa and the African continent at large. In September, Access Bank…

Ecobank Group’s profit crashes 57% to $174m in 2020

Mar 24, 2021 Banjo Olaniran

Ecobank Group’s profit crashes 57% to $174m in 2020 Ecobank Transnational Incorporated Group (ETI) has recorded significant decline in its profit for the year ended December 31, 2020. According to its financial report for the year filed at the Nigerian Stock Exchange (NSE), the profit after tax (PAT) of the lender stood at $174 million, down $231 million or 57 per cent from 2019. According to the report, notable items that negatively impacted profit before tax were the $164 million of goodwill charge ($159 million related to Oceanic…

Zenith Bank retains title as Best Bank in Nigeria

Mar 24, 2021 Ugochi Emmanuel

Zenith Bank retains title as Best Bank in Nigeria Zenith Bank Plc has been named as the Best Bank in Nigeria for the second successive year in the Global Finance Magazine’s Best Banks Awards 2021. The bank was among other banks from 35 countries in Africa recognised as the prestigious US magazine, Global Finance announced its 28th Annual Best Bank Awards Winners in Africa. The editors of Global Finance made all selections after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts worldwide. Global Finance…