Banking Archives — Page 11 of 58

July 26, 2022 No Responses

Ecobank Nigeria Extends Remittance Services To Business Accounts Holders

Ecobank Nigeria has extended its innovative remittance services to its business account holders. According to Ecobank, this implies that Business Account holders can now receive funds sent through Ecobank Rapidtransfer or any of its Remittance franchise partners through the Business...

July 5, 2022 No Responses

Union Bank Releases 2021 Citizenship, Sustainability, Innovation Report

Union Bank has released the 6th edition of its annual Citizenship, Sustainability and Innovation (CSI) report, which provides an update on the bank’s initiatives across environmental, social and economic areas during 2021. Like previous editions, this year...

June 30, 2022 No Responses

Fitch Upgrades Fidelity Bank’s Issuer Default Rating From ‘B-’ To ‘B’

Fitch Ratings has upgraded Fidelity Bank Plc’s long-term issuer default rating (IDR) from ‘B-’ to ‘B’, reflecting the bank’s increased creditworthiness. The rating agency also upgraded Fidelity’s National Long-Term Rating to ‘A(nga)’ from ‘...

June 28, 2022 No Responses

Fitch Reaffirms Ecobank Nigeria’s Stable Outlook

Fitch Ratings has affirmed Ecobank Nigeria Limited’s (ENG) Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. Fitch also affirmed the Bank’s Viability Rating (VR) at ‘b-‘ and National Long-Term Rating at &#8216...

June 14, 2022 No Responses

FirstBank Gets $150m From Afreximbank To Support Businesses

African Export-Import Bank (Afreximbank) has disbursed $150 million to First Bank of Nigeria under it’s Pandemic Trade Impact Mitigation Facility (PATIMFA). Group Head, Marketing and Corporate Communications, FirstBank, Mrs Folake Ani-Mumuney, in a stateme...

June 9, 2022 No Responses

Access Bank Acquires $37m Stake In Kenya’s Sidian Bank

Access Bank Holding Plc has concluded plans to acquire Kenya’s Sidian Bank Ltd., for N15 billion ($37 million). The bank disclosed this in a notice signed by Mr Sunday Ekwochi, Company Secretary of the bank, and made available on the....

June 7, 2022 No Responses

Fidelity Bank Bags SME Award

Fidelity Bank Plc has been recognized as the ‘Best SME Bank in Nigeria’ by the Global Finance Banking & Finance Awards 2022. According to the organizers, Global Banking and Finance review, the bank has presented the award after a comprehensive...

May 30, 2022 No Responses

Sterling Unveils Imperium Platform For Solar Energy Consumers

Sterling Bank Plc has launched a new and innovative digital product, known as the Imperium Platform, in a bid to connect consumers and providers of renewable energy (solar solutions) as a viable solution to Nigeria’s electricity crisis. A statement sent....

May 29, 2022 No Responses

FBNHoldings Declares N757b Revenue, N166.7b Profit Before Tax In 2021

For the year ended December 31st, 2021, FBN Holdings Plc has attained 28.2% increase in gross revenue to ₦757.3 billion and profit before tax of ₦166.7 billion, an increase of 99.9%.&...

May 27, 2022 No Responses

UBA To Reward Loyal Customers In Super Savers Draw

The United Bank for Africa (UBA) Plc, is set to reward loyal customers during its Super Savers Draw scheduled to hold on Friday, May 27th at the UBA Head Office, Marina, Lagos State. A statement sent to City Business News explained...

May 26, 2022 No Responses

Ecobank Shareholders Get $40m Dividend

The Ecobank Transnational Incorporation (ETI), the parent company of the Ecobank Group, has paid out a total dividend of 40 million dollars to shareholders. The Group Chief Executive Officer (CEO) and Executive Director of ETI, Ade Ayeyemi, made th...

May 17, 2022 No Responses

FMBN Disburses N394.6b To Beneficiaries

The Federal Mortgage Bank of Nigeria (FMBN) has disbursed N394.575 billion to beneficiaries from 1992 to 2022. The Group Head, Corporate Communications (FMBN), Mr Lawal Sauri disclosed this in an interview with the News Agency of Nigeria (NAN) on Monday....

May 6, 2022 No Responses

NDIC Begins Verification Of Depositors In Three Failed Micro-Finance Banks

The Nigeria Deposit Insurance Corporation (NDIC) is to commence the claims verification of depositors of the three Micro-finance Banks (MFBs) whose licences were revoked by the Central Bank of Nigeria (CBN). The NDIC said on Thursday in its official Twit...

April 28, 2022 No Responses

GTCO Declares N54.3b Profit Before Tax In Q1

Guaranty Trust Holding Company Plc, (GTCO) has released its unaudited financial results for the first quarter of 2022 to the Nigerian Exchange Ltd., (NGX) and London Stock Exchanges, declaring a profit before tax of N54.3 billion. The group, in a...