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Category: Banking

FCMB Gets Recognition As Best SME Bank In Africa And Nigeria – Asian Banker, Middle East and Africa Regional Awards
AfricaBankingLocal

FCMB Gets Recognition As Best SME Bank In Africa And Nigeria – Asian Banker, Middle East and Africa Regional Awards

First City Monument Bank (FCMB), has been recognised as Best SME Bank in Africa and Nigeria at the Asian Banker Middle East and Africa…

byEkeminiSeptember 7, 2021September 7, 2021
Stanbic IBTC Bank Revenue Shrinks, Profit Drops By 53%
AfricaBankingLocalMarket

Stanbic IBTC Bank Revenue Shrinks, Profit Drops By 53%

Stanbic IBTC Holdings Plc reported a 52.85 per cent drop in its profit before tax for the first half this…

byakintundeSeptember 7, 2021September 7, 2021
Nigeria: Lotus Bank Expands With New Locations
AfricaBankingLocal

Nigeria: Lotus Bank Expands With New Locations

LOTUS Bank has announced the opening of three new locations in Lagos State in a bid to expand its footprint…

byakintundeSeptember 7, 2021September 7, 2021
$75m Investment Injected Into Ecobank
AfricaBankingInvestingLocal

$75m Investment Injected Into Ecobank

Ecobank Transnational Incorporated has announced the receipt of a $75m perpetual non-cumulative additional tier-1 capital investment from Arise B.V ETI…

byakintundeSeptember 7, 2021September 7, 2021
European Central Bank To Announce Tapering In December, Analysts Say
BankingOpinionWorld

European Central Bank To Announce Tapering In December, Analysts Say

The European Central Bank will announce the reduction of its Covid-related stimulus in December, four analysts told CNBC amid an…

byakintundeSeptember 2, 2021
Central Bank of Nigeria  Engages British fintech To Develop Digital Currency
AfricaBankingLocal

Central Bank of Nigeria Engages British fintech To Develop Digital Currency

The Central Bank of Nigeria, on Monday, announced the formal engagement of a global fintech company, Bitt Inc., as the…

byakintundeAugust 31, 2021August 31, 2021
Nigeria: CBN States Transfer Limits As E-Naira Begins Oct 1
BankingBusinessLocalMarket

Nigeria: CBN States Transfer Limits As E-Naira Begins Oct 1

The Central Bank of Nigeria has announced the formal engagement of the global Fintech Company, Bitt Inc., as the Technical…

byEkeminiAugust 30, 2021August 31, 2021
Banks To Promote Adoption Of ENaira As CBN Mulls October 1 Pilot
BankingBusinessMarket

Banks To Promote Adoption Of ENaira As CBN Mulls October 1 Pilot

Nigerian deposit money banks (DMBs) are set to market and promote the adoption of eNaira as a digital version of…

byEkeminiAugust 30, 2021
Lagos Building Investment Coy. PLC (LBIC) Records Profit, Defies Tough Operating Environment
BankingBusinessLocal

Lagos Building Investment Coy. PLC (LBIC) Records Profit, Defies Tough Operating Environment

—Fixes date for 16th Annual General Meeting (AGM) The Lagos Building Investment Company Plc. (LBIC), defied the tough operating environment…

byEkeminiAugust 24, 2021August 25, 2021
Nigeria: Shareholders Disagree With Securities and Exchange Commission (SEC) Over N170bn Unclaimed Dividend
AfricaBankingLocal

Nigeria: Shareholders Disagree With Securities and Exchange Commission (SEC) Over N170bn Unclaimed Dividend

Shareholders of quoted companies in the country have disagreed with Securities and Exchange Commission (SEC) on the use of the…

byakintundeAugust 23, 2021
Naira Abusers Risk Jail Terms, Central Bank Of Nigeria Warns
AfricaBankingLocal

Naira Abusers Risk Jail Terms, Central Bank Of Nigeria Warns

The Central Bank of Nigeria (CBN) has disclosed that it is working with the Nigeria Police Force (NPF), Federal Inland…

byakintundeAugust 18, 2021
Central Bank Of Nigeria Moves To Strengthen Cybersecurity In Other Financial Institutions
AfricaBankingLocal

Central Bank Of Nigeria Moves To Strengthen Cybersecurity In Other Financial Institutions

The Central Bank of Nigeria (CBN) yesterday moved to strengthen cyber resilience of Other Financial Institutions (OFIs) under its regulation…

byakintundeAugust 18, 2021
Stock Market Rebounds As Investors Gain N23bn
AfricaBanking

Stock Market Rebounds As Investors Gain N23bn

The equities market on the Nigerian Exchange Limited rebounded from the loss recorded on Monday with investors gaining N23.04bn as…

byakintundeAugust 18, 2021
Dollar Settles Near 4-1/2 Month Highs As Risk Appetite Cools
BankingWorld

Dollar Settles Near 4-1/2 Month Highs As Risk Appetite Cools

The dollar held near a 4-1/2 month high versus a basket of major currencies on Wednesday as simmering concerns about…

byakintundeAugust 18, 2021
Markets No Longer Fear Inflation And Stocks Will Continue To Rally, HSBC says
BankingMarketWorld

Markets No Longer Fear Inflation And Stocks Will Continue To Rally, HSBC says

Markets no longer fear inflation and are now focused on the spread of the delta Covid-19 variant, according to HSBC…

byakintundeAugust 13, 2021
The Securities and Exchange Commission (SEC), African Development Bank (AfDB) Commence Implementation Of Risk-Based Supervision Project
AfricaBankingMarket

The Securities and Exchange Commission (SEC), African Development Bank (AfDB) Commence Implementation Of Risk-Based Supervision Project

The Securities and Exchange Commission (SEC) and African Development Bank (AfDB) have commenced the implementation of the regulatory capacity improvements…

byEkeminiAugust 13, 2021
SoftBank Unit Behind Risky Multibillion-Dollar Tech Bets Dumps Microsoft, Facebook, Alphabet And Netflix Shares
BankingTechnologyWorld

SoftBank Unit Behind Risky Multibillion-Dollar Tech Bets Dumps Microsoft, Facebook, Alphabet And Netflix Shares

SoftBank has offloaded shares of U.S. tech giants like Facebook, Microsoft, Alphabet and Netflix, according to its latest financial report…

byakintundeAugust 10, 2021August 10, 2021
Central Bank Of Nigeria: Digital Currency Would Be Critical National Infrastructure
BankingBusiness

Central Bank Of Nigeria: Digital Currency Would Be Critical National Infrastructure

The Central Bank of Nigeria (CBN) has said its proposed digital currency, known as e-Naira, will be treated as a…

byEkeminiAugust 10, 2021
CBN Charges Bank Customers On Their Rights, Privileges
BankingBusinessLocalMarket

CBN Charges Bank Customers On Their Rights, Privileges

The Central Bank of Nigeria (CBN) has charged customers of commercial banks to know their rights and privileges at all…

byEkeminiAugust 9, 2021
Kuda Valued At $500 Million After Quick Series B
AfricaBankingLocal

Kuda Valued At $500 Million After Quick Series B

The Nigerian fintech company, Kuda, announced Monday it has closed a $55 million Series B funding co-led by Valar ventures…

byakintundeAugust 9, 2021
Bank Rate Maintained At 0.1% – August 2021
BankingBusinessMarket

Bank Rate Maintained At 0.1% – August 2021

Monetary Policy Summary, August 2021 The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2%…

byEkeminiAugust 6, 2021
Nigeria’s Foreign Reserve Rises By $79.1 Million In July 2021
BankingTrade

Nigeria’s Foreign Reserve Rises By $79.1 Million In July 2021

Nigeria’s foreign reserve closed the month of July 2021 at $33.4 billion, appreciating marginally by $79.1 million compared to $33.32…

byEkeminiAugust 5, 2021
‘Investors To Exploit Opportunities In N100b Infrastructure Fund’
BankingInvesting

‘Investors To Exploit Opportunities In N100b Infrastructure Fund’

Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC Holdings Plc has stated that its N100 billion Infrastructure Fund…

byEkeminiAugust 5, 2021
JAIZ Bank’s Profit Grows By 70%
BankingBusiness

JAIZ Bank’s Profit Grows By 70%

Jaiz Bank Plc has said its profit after tax rose by 70.1 per cent growth to N1.9bn in the first…

byEkeminiAugust 5, 2021
SEC, Issuers Parley To Attract More Listings As Index Rises By 0.03%
BankingBusiness

SEC, Issuers Parley To Attract More Listings As Index Rises By 0.03%

The Director General of the Securities and Exchange Commission (SEC), Lamido Yuguda has stated that the Securities Issuers Forum (SIF)…

byEkeminiAugust 5, 2021
Banking, Industrial Stocks Drive N5bn Market Gain
BankingBusiness

Banking, Industrial Stocks Drive N5bn Market Gain

The banking and industrial indices drove a N5.13bn gain for stock investors amidst negative market sentiment. Nineteen stocks recorded losses…

byEkeminiAugust 5, 2021
CENTRAL BANKS Inflation Pressure To Test Bank Of England’s Patience At Key Meeting, Economists Warn
BankingWorld

CENTRAL BANKS Inflation Pressure To Test Bank Of England’s Patience At Key Meeting, Economists Warn

Economists broadly expect the Bank of England’s Monetary Policy Committee to raise its inflation forecasts on Thursday after two straight months…

byakintundeAugust 4, 2021
Treasury Yields Climb, 10-Year Rate Rises To 1.19%
BankingInvestingWorld

Treasury Yields Climb, 10-Year Rate Rises To 1.19%

U.S. Treasury yields climbed on Tuesday morning, with the 10-year rate rising to top 1.19%, despite concerns about a slowdown…

byakintundeAugust 3, 2021
StanChart Resumes Dividends And Buybacks As Profit Recovers
BankingBusinessInvesting

StanChart Resumes Dividends And Buybacks As Profit Recovers

 Standard Chartered PLC (STAN.L) posted a higher than expected 57% jump in first-half pretax profit and announced a $250 million share buyback,…

byEkeminiAugust 3, 2021August 3, 2021
FUGAZ Stocks Investors Lose N50.45 Billion During The Week
BankingLocalMarket

FUGAZ Stocks Investors Lose N50.45 Billion During The Week

The market capitalization of the top five banks, referred to as the Tier-1 banks decreased to N2.46 trillion at the…

byEkeminiAugust 2, 2021

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