Banks’ Operating Expenses are Up 19.2% Due to High Inflation and Regulatory Fees.
Following a high inflation rate and regulatory charges, 14 Nigerian banks reported N2. 03 trillion in total operating expenses in…
Category: Banking
Super Central Bank Week Pressures Crypto Market.
Following its last six significant rate increases in 2022, the US Federal Open Market Committee (FOMC) declared that it would…
Bank of England to add 50 bps to Bank Rate on Dec. 15.
Despite the economy entering a recession, the Bank of England will increase Bank Rate by another 50 basis points, bringing…
Iranian Authorities Plan to Freeze the Bank Accounts of Women who Reject the Hijab.
According to a member of the Iranian parliament, the government intends to introduce new penalties for women who choose not…
Despite Global Headwinds, Remittances Grew by 5% in 2022.
Remittances to low- and middle-income countries increased by an estimated 5% to $626 billion in 2022. Remittances to China, however,…
Breaking: New revised Cash Withdrawal Limit By The Central Bank Of Nigeria.
According to the CBN memo released today 06 December 2022, the Central Bank Of Nigeria has revised its cash withdrawal…
Zenith Receives the Award for Best Bank in Nigeria.
According to The Banker’s Bank of the Year Awards 2022, Zenith Bank Plc has been named The Bank of the…
The Central Bank of Nigeria Sells $9.4 billion in Forex.
In the first six months of 2022, the Central Bank of Nigeria sold $9.4 billion worth of forex in the…
CBN Reimburses Non-oil Exporters with N81 billion.
According to the Central Bank of Nigeria, non-oil export proceeds returned to Nigeria increased significantly from $3. 1 billion in…
The Outlook for Sterling Bank’s “BBB+” Rating is Favorable.
DataPro, the Technology-Driven Credit Rating Agency, assigned Sterling Bank Plc a long-term rating of “BBB+” with a Positive Outlook for…
Banks lend N1.2tn to Construction Firms.
The loans obtained by operators in the country’s construction sector from banks increased from N1. 025tn in January 2022 to…
Nigerian Banks Increase Interest on Existing Loans to Customers By 200bps.
Commercial lenders have raised the interest rates they impose on current contracts by 200 basis points, or 2%, up to…
CBK Increases Lending Fees to Control Inflation.
In an effort to control predictions of out-of-control inflation amid weakening shilling in a net import economy, the Central Bank…
Kenya Treasury to Issue New Bonds in Exchange for the Sh87 billion Debt.
To avert a cash shortage early in the new year, the Treasury is trying to convert Sh87. 8 billion worth…
CBN Directs Banking Firms Nationwide to Open on Saturdays
In order to allow bank customers to exchange their old naira notes for new ones, the Central Bank of Nigeria…
UBA Restates Commitment To SMEs Development Across Africa.
United Bank for Africa (UBA) Plc. Africa’s Global Bank, has reaffirmed its commitment to the expansion of Small and Medium…
The Assets of Nigerian Banks Increased by N10 trillion to N66 trillion.
The Central Bank of Nigeria’s most recent statistics show that between August 2021 and August 2022. The assets of Nigerian…
To Accelerate the Growth of SMEs, Bank of Ghana Collaborates with Two Parties.
The Bank of Ghana (BoG) has teamed up with two organizations to provide the nation’s micro, small, and medium-sized companies…
Banks Will Use Tellers Following Naira Redesign
The Bank Customers Association of Nigeria (BCAN), which represents commercial bank clients, has requested an extension of the deadline for…
According to Emefiele, the CBN is Creating New Legislation to Address Vulnerabilities to Financial Systems.
According to the Governor of the Central Bank of Nigeria (CBN), threats to the financial service system prompted the development…
Banks are Urged by Financial Experts to Finance Infrastructure.
Financial industry experts have urged banks nationwide to assist the government in funding infrastructures; in order to open up prospects…
UBA America hosts the International Banking Conference from October 17–21, 2022, Emefiele, Alawuba, and others Drive the Conversation.
The discussions on global economic trends at the 2022 edition of the UBA Group International Banking Conference will be led…
51% of Finibanco Angola S.A. is purchased by Access Bank.
According to the bank’s company secretary, Access Holding Plc’s subsidiary, Access Corporation, completed the deal before announcing that Access Holding…
Nigerian Bank Stocks With The Lowest Price-Earnings.
According to data gathered by Bloomberg, United Bank for Africa Plc, Access Bank Plc, FBN Holdings Plc; and Unity Bank…
Emefiele Asserts That There Is No Law Requiring CBN To Give Dollars To Foreign Airlines.
Foreign airlines’ funds stranded in Nigeria, according to the International Air Transportation Association (IATA), climbed from $450 million in May…
CBN Increases MPR To 15.5% In A Determined Effort To Control Inflation.
The Monetary Policy Rate (MPR), known as the interest rate, was increased by 150 basis points from 14 to 15.…
How Nigeria’s Real Estate Sector Is Fueled by Land Banking.
The real estate industry is just one of the many areas of human endeavor where various forms of banking are…
CBN Approves Access Corporation’s Payment In Full.
A new payment subsidiary controlled entirely by Access Corporation, Hydrogen Payment Services Company Limited, has received final permission from the…
Top 10 Nigerian Banks By e-business Revenue In 2022.
Revenue from electronic channels, card products, and related services are all included in e-business income. Thus, the revenue is by…