Category: Capital Market/Banking

Ecobank to sack more workers
May 4, 2017 No Responses

Ecobank to sack more workers

Inline with plans to close some branches, Eco Bank has resolved  to sack more of its workers.   Under the arrangement, Eco Bank is to step up its digital platforms as part of measures to cut cost and ensure efficiency....
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CBN sanctions First Bank, GTB, others over alleged forex infractions
May 3, 2017 No Responses

CBN sanctions First Bank, GTB, others over alleged forex infractions

The Central Bank of Nigeria (CBN) on Tuesday barred 15 commercial banks from dealing in foreign exchange through the recently created Small and Medium Enterprises (SMEs) wholesale forex window.  According to the CBN, the decision which is with immediate effec...
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UBA posts N22.4b profit in first quarter
April 29, 2017 No Responses

UBA posts N22.4b profit in first quarter

For the first quarter ended March 2017, United Bank for Africa Group (UBA) recorded Profit After Tax of N22.4billion, indicating 32 percent year-on-year growth compared to N17.0 billion achieved in the corresponding period of 2016.   The group also sustained...
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Ecobank merges 74 branches, explores digital strategy
April 28, 2017 No Responses

Ecobank merges 74 branches, explores digital strategy

Ecobank Nigeria Limited has reaffirmed its digital transformation agenda enabling its customers depend more on its digital platforms to do their daily banking activities, thereby reducing the need to go to branches. By this development the bank will have enhan...
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NSE, London Stock Exchange renew capital market agreement
April 28, 2017 No Responses

NSE, London Stock Exchange renew capital market agreement

The Nigerian Stock Exchange (NSE) and London Stock Exchange Group (LSEG) on Thursday in Lagos announced the renewal of their strategic capital markets partnership agreement at the Nigerian Stock Exchange (NSE).    Under the arrangement, the renewal extends t...
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Access Bank declares N26b profit, total assets of ₦3.54tri in first quarter
April 28, 2017 No Responses

Access Bank declares N26b profit, total assets of ₦3.54tri in first quarter

Access Bank Plc on Thursday reported unaudited financial results for the first quarter (Q1) ended March 31, 2017, indicating an increase of 38% in Profit before Tax, “which rose to N31.2 billion when compared to ₦22.6 billion in Q1 2016....
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UBA powers music, business masterclass facilitated by Berklee College of music
April 26, 2017 No Responses

UBA powers music, business masterclass facilitated by Berklee College of music

The countdown has begun to the most anticipated and insightful learning experience at the Runway Jazz 2017 Music and Business Masterclass, taking place on April 29, 2017 in the Grand Ballroom of Eko Hotels & Suites, Lagos, Nigeria.  The Masterclass is a...
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Heritage Bank partners Workforce group to promote impactful leadership
April 10, 2017 No Responses

Heritage Bank partners Workforce group to promote impactful leadership

In a bid to enhance impactful leadership that will contribute to the financial performance of an organization, Heritage Bank Plc has partnered Workforce group. Speaking at a Learning & Development Leaders Conference organised by Workforce group in Lagos, M...
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Wema Bank reopens Kaduna branch
April 5, 2017 No Responses

Wema Bank reopens Kaduna branch

Wema Bank Plc has reopened its Kaduna branch to provide banking services to individuals and firms with good growth opportunities. According to the Bank, the new branch will offer retail and SME banking, corporate banking, treasury, trade services and financial...
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Deposits in SunTrust Bank hits N4.2b in 2016
April 3, 2017 No Responses

Deposits in SunTrust Bank hits N4.2b in 2016

 For the year 2016, deposit in Sun Trust Bank increased by 432 per cent, making it possible for the bank to declare profit before tax of N343 million, an increase of 160.3 per cent over the N131.9million reported in 2015.   Meanwhile its Income tax...
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Council members approve NSE Demutualisation process
March 30, 2017 No Responses

Council members approve NSE Demutualisation process

Members have approved the demutualisation programme of the Nigerian Stock Exchange (NSE) Exchange. This decision was reached today (Thursday, March 30, 2017)  at the Extra-Ordinary General Meeting (EGM) of its members which held at the Stock Exchange House, L...
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Development Bank of Nigeria gets CBN licence
March 30, 2017 No Responses

Development Bank of Nigeria gets CBN licence

The Central bank of Nigeria has approved the grant of a wholesale development finance institution licence with national authorization to the Development Bank of Nigeria (DBN) Plc, the Minister of Finance, Mrs. Kemi Adeosun has confirmed. The approval was conve...
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Wema Bank appoints new Non-Executive Director
March 29, 2017 No Responses

Wema Bank appoints new Non-Executive Director

Wema Bank Plc has announced the appointment of Mr Babatunde Oladele Kasali as a Non-Executive Director, following the approval of the Central Bank of Nigeria. According to the Bank, Mr. Kasali is a “consummate professional with expertise in Audit, Risk...
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CBN to Banks: Make dollar available at N360
March 28, 2017 No Responses

CBN to Banks: Make dollar available at N360

Commercial banks in the country will no longer sell the naira at N375 per dollar for invisibles, such as school fees, medical bills and travel allowances, the Central Bank of Nigeria (CBN) declared on Monday. According to CBN,  Nigerians can...
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