Browsing Category
Banking
Several U.S. Banks To Close Branches, Offices Early For Juneteenth
Several U.S. banks are closing branches and offices early on Friday to observe the Juneteenth holiday, which…
U.S. Bank Profits Plunge 70% On Coronavirus Loss Provisioning
U.S. bank profits fell by 69.6% to $18.5 billion in the first quarter of 2020 from the year prior as banks felt the…
Adesina Reacts To AfDB Vice President’s Resignation
President of the African Development Bank (AfDB), Akinwumi Adesina has reacted to the resignation of Jennifer…
U.S., Nigeria Square Up in Tussle Over African Bank Chief
The U.S. and Nigeria are facing off in a dispute over whether allegations against the head of the African…
Banks Are Deep In A Bear Market, And Traders See Little Reason For Hope
Bank stocks are breaking down.
The KBE bank ETF, which includes major companies Citigroup and JPMorgan, has…
FCMB Issues Official Statement On Collapse Of Customer At Onipanu Branch; Debunks…
Leading Nigerian financial institution, First City Monument bank (FCMB) has issued an official statement to address…
Nigeria’s Access Bank To Cut Staff Salaries To Avoid Job Losses
Access Bank Plc plans to cut salaries to avoid job losses as a lockdown to contain the coronavirus hampers the…
Foreign Investor Dollars In Lockdown In Nigeria Debt Market
Country’s reserves under pressure as crude prices plunge. Debtholders await regulator’s dollar sales after…
Nigerian Banks To Take $3.8 Billion Hit for Missing Targets
Nigeria’s central bank took 1.47 trillion naira ($3.8 billion) from lenders as additional cash reserves for…
Venture Firm Benchmark Raises New Fund Without Early Uber Investor: Source
The Silicon Valley venture capital firm known for its early backing of companies such as Uber Technologies Inc is…
JPMorgan Asset Seeks Collateral Protection in Private Lending
JPMorgan Asset Management is prioritizing lending to companies with high-quality assets as more cash-hungry…
80,000 Apply For Central Bank Of Nigeria’s Coronavirus Intervention Fund
Three weeks after the Central Bank of Nigeria released the guidelines for the N50bn targeted credit facility, over…
FCMB Group Records N188bn Revenue, Grows Profit to N20.1bn
FCMB Group Plc has announced its financial results for the year ended December 31, 2019. The audited results showed…
US Fed Takes On Role Of World’s Central Bank By Pumping Out Dollars
Unveils new repurchase facility for foreign central banks. Dollar squeeze threatens world economy reeling from…
British Banks Cancel Payment Of Dividends To Shareholders
Britain’s banking sector on Wednesday scrapped billions of pounds (dollars) in shareholder dividends and share…
Standard Bank Withdraws Guidance Over COVID-19
Standard Bank on Tuesday withdrew its financial guidance citing uncertainty caused by the coronavirus (COVID-19)…
US Fed Sets Up Scheme To Meet Booming Foreign Demand For Dollars
Central bank meets global shortage of greenbacks after scramble for safety. Investors and companies have flocked to…
Why Is The US Fed´s Unlimited Money-Printing Scheme Dollar Positive In Coroanvirus…
Why the Fed´s unlimited money-printing scheme is dollar positive in coroanvirus times
The Fed's "buy…
Unknowns Await Emerging Markets After Wildest Moves Since 2008
As most nations brace themselves for a likely surge in coronavirus cases through April, the signals from the…
‘Clear We Have Entered Recession’ – IMF Chief
The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help…
Coronavirus: IMF, World Bank Suspend Debt Payments By Nigeria, Others
The International Monetary Fund and World Bank on Wednesday announced a hold on debt payments from Nigeria and…
Banks in the UK close branches
Scores of bank branches are closed and others have restricted opening hours as a result of the coronavirus crisis.…
BREAKING: CBN Retains MPR At 13.5% To Allow ‘Interventions Play Out’
The monetary policy committee of the Central Bank of Nigeria (CBN) has voted unanimously to retain the monetary…
Historic Fed Boost Fails To stop Wall Street’s Virus-Driven Sell-Off
Wall Street’s slide deepened on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown,…
Economic Shock From Coronavirus Already Bigger Than Financial Crisis — OECD Boss
The world will take years to recover from the coronavirus pandemic, the Organisation for Economic Co-operation…
Stanbic IBTC Declares N75b Profit For 2019
STANBIC IBTC Holdings Plc has declared a profit after tax of N75 billion for the year ended December 31, 2019, an…
Forex Racketeering: CBN Fines Banks, BDCs Hundreds Of Millions For Infraction
THE Central Bank of Nigeria (CBN) reportedly fined major banks and bureau de change operators hundreds of millions…
Goldman Injects $1 Billion Into Own Money-Market Funds After Heavy Withdrawals
Goldman Sachs Group Inc poured more than $1 billion into two of its prime money-market portfolios this week due…
Germany Prepares 150 Billion Euro Emergency Budget In Coronavirus Package
Germany is readying an emergency budget worth more than 150 billion euros ($160 billion) to shore up jobs and…
U.S. Coronavirus Stimulus To Be Worth ‘North Of $2 Trillion’ -White…
The White House expects the impact of economic stimulus to counter the effects of coronavirus to be more than $2…