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Banking
Spain’s Banks Look To Make Lockdown Branch Closures Permanent
As Spain reopens after the COVID-19 crisis, its banking industry is seizing the opportunity to shrink its swollen…
Eco Common Currency And Gulf Between
If it goes according to schedule, the currency of the West African Economic and Monetary Union (UEMOA) since 1945,…
Naira Gains Against The Dollar Across Forex Markets As Liquidity Hits Record…
At the black market, the naira appreciated marginally by N1 to a dollar to close at N461 to a dollar.
Forex…
UK New Money Transfer Rules You’ll Have To Follow From 30 June
Transferring money from your bank account to friends, family and other payees is going to change slightly from the…
Nigerian Banks’ Forex Shortage To Hit $5bn
Nigerian banks’ foreign currency funding gap will rise to $5bn over the current low oil prices, volatile foreign…
Moody’s – Nigerian Banks To Face Pressure With Reduced Dollar Deposit
Banks in Nigeria are facing foreign currency shortages because of low oil prices, volatile foreign…
Sterling Steadies As Survey Shows Nascent Manufacturing Recovery
Sterling hovered around $1.24 on Wednesday after manufacturing survey data pointed to a small increase in…
Nigeria: NASD Plc OTC To Enhance Capital Raising Capabilities
The Managing Director/CEO of NASD Plc, Mr. Bola Ajomale, has said the company, which is providing…
Naira Declines Against US Dollar, Remains Pressure Across FX Segments
Naira declined against the United States dollar on the Investors and Exporters’ forex window on…
Euro Is Riding A Wave Of Confidence On Europe Pandemic Response
The euro’s best rally in more than two years looks set to extend, with a host of market…
Nigeria’s Economic Advisory Council Cautions Against Multiple Exchange Rate
The Presidential Economic Advisory Council, PEAC, yesterday, advised the Federal…
Central Bank Of Nigeria: Leveraging I&E Window For Exchange Rate Stability
Having successfully used the Investors and Exporters’ (I&E) foreign exchange window to stop the naira…
Banks Warn Debt Forgiveness Will Hurt, Not Help Africa
Scrapping the debt of heavily indebted African nations will only come back to haunt them, according to two of the…
Nigeria: FG, States Eye N212b Revenue As Naira Heads To N400/$
THE federal, states and local governments are set to earn additional N212 billion revenue this year from the…
Nigeria’s External Reserves Down By $261m
Data published by the Central Bank of Nigeria’s (CBN’s) website showed that Nigeria’s external reserve is now $36.3…
Coronavirus: U.S. Bank Deposits Increase By $2 Trillion
It's the banking world's version of the rich getting richer.
A record $2 trillion surge in cash hit the…
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…