Barclays announces final sale of stake in its African division
Businessam Staff
December 1, 2017
Barclays will sell a 7 percent stake in Johannesburg-based Barclays Africa Group on December 5, the British bank said on Friday, according to Reuters, the latest and likely last in a series of such sales as it ends more than 90 years as a major presence on the continent. Barclays said after the sale its […]
Fidelity Bank rewards loyal customers at Lagos fair
Businessam StaffNovember 8, 2017
Fidelity Bank Plc is rewarding loyal customers at the ongoing 2017 Lagos International Trade Fair holding at the Tafawa Balewa Square (TBS), Lagos. As part of the financial institution’s ongoing loyalty scheme for its retail customers, 10 lucky beneficiaries – 5 FPSS account holders and 5 SWEETA account holders – will be presented with cheques […]
Skye Bank storms Obafemi Awolowo University with ‘Ref ‘n’ Win’ promo
Businessam StaffOctober 29, 2017
As part of its engagement initiative to drive financial inclusion among the youth in Nigeria, Skye Bank Plc. is organising a nationwide campus visitation to promote its ‘Ref n Win’ campaign, with the first stop at Obafemi Awolowo University, Ile-Ife Monday. ‘Ref n Win’ campaign provides students and the academic communities an opportunity to experience […]
Fidelity Bank profit grows 65.1% in nine months
Businessam StaffOctober 24, 2017
Fidelity Bank Plc Monday declared 65.1 per cent growth in profit before tax for the nine months ended Sept. 30, 2017. The bank posted profit before tax of N16.2 billion during the period under review compared with N9.8 billion achieved in the corresponding period of 2016. The information is in the bank’s nine months financial […]
Zenith Bank’s 9-month 2017 earnings jump 52.8% to N581bn buoyed by fees, commission
Businessam StaffOctober 19, 2017
Zenith Bank Thursday released its financial statements for the nine months ended September 2017 with gross earnings leaping 52.8 from N380 billion in 2016 to N581 billion in 2017. Profit before tax increased from N116 billion in 2016 to N152 billion in 2017, while rrofit after tax also increased massively from N95 billion in 2016 […]
GTBank records N125.58bn profit in third quarter despite 5.9% drop in gross earnings
Businessam StaffOctober 19, 2017
Guaranty Trust Bank (GTB) Plc on Wednesday posted profit of N125.58 billion for the third quarter ended September 30, 2017. This is despite gross earnings falling 5.9 percent year-on-year from N329.3 billion in the corresponding period of 2016 to N309.9 billion. The bank’s third quarter results released by the Nigerian Stock Exchange (NSE) indicates that […]
GIFMIS: A good policy pushed hastily
Obodo EjiroOctober 1, 2017
When Ifeoluwa Bakare went to the bank to pay some money into the Treasury Single Account (TSA) of the Federal Government on 7th, October 2017, she met a brick wall. She was told that she needs to bring a certain number from the Ministry of Health to the bank before her payment could be processed. […]
Fidelity Bank, LBS move to boost forex earnings with export initiative
Businessam StaffSeptember 27, 2017
Fidelity Bank Plc has expressed readiness to support the Federal Government non-oil sector diversification drive with an Export Management Programme (EMP) to boost foreign exchange earnings.Nnamdi Okonkwo, the bank’s Managing Director, said this while speaking at the EMP Stream Five Initiative at the Lagos Business School (LBS). Nnamdi Okonkwo, the bank’s Managing Director, said this […]
Nigeria’s Stanbic IBTC offers scrip dividend option for three years
Businessam StaffSeptember 14, 2017
Nigeria’s Stanbic IBTC Bank said Thursday it will offer shareholders the option to receive scrip dividends in lieu of cash dividends over the next three years after it declared an interim dividend. The mid-tier lender, which is part of South Africa’s Standard Bank, did not provide a reason for the move. The bank declared a […]
Access Bank redeems $350 million eurobond
Businessam StaffAugust 29, 2017
Access Bank Plc. has announced the final redemption of the $350,000,000.00 eurobond Notes due July 25, 2017. The Securities were issued in 2012 by Access Finance B.V. – a direct, wholly owned subsidiary of the Bank – on the back of an unconditional and irrevocable guarantee of the Bank. In October 2016, holders of $113 […]