Zenith Bank grows profit by 8.55% to N174.3bn in Q3 2022 amid rising inflation
Olivia Nnorom
October 27, 2022
By Olivia Nnorom Zenith Bank Plc has released its interim consolidated and separate financial report for the third quarter (Q3) 2022, which shows that the bank grew its profit by 8.55 percent to N174.331 billion in nine months, from N160.594 billion in Q3, 2021. The bank accomplished this despite soaring inflation. Nigeria’s inflation rate hit […]
Access Corporation acquires indirect equity in Sigma Pensions
Rosemary IwualaOctober 26, 2022
By Rosemary Iwuala Access Holdings Plc has received regulatory approval for the proposed acquisition of an indirect equity stake in Sigma Pensions Limited. The pan-African banking group announced this in a statement on the Nigerian Exchange Limited (NGX) on Tuesday. The statement signed by Sunday Ekwochi, group company secretary, Access Corporation, said the HoldCo has obtained […]
Nigeria launches Africa’s first central bank-driven domestic card scheme
Onome AmugeOctober 26, 2022
By Onome Amuge …to boost financial, payment system The Central Bank of Nigeria (CBN) has announced the introduction of a National Domestic Card Scheme effective January 16, 2023, designed to promote stability, inclusion and growth in the financial and payment system. The national domestic card scheme will be delivered through the Nigeria InterBank Settlement Systems […]
AfDB, FCMB sign $50m loan agreement to boost SMEs, women-empowered businesses
Olivia NnoromOctober 21, 2022
By Olivia Nnorom The African Development Bank (AfDB) and First City Monument Bank (FCMB) have signed a $50 million Line of Credit agreement to support the access to capital for women-empowered businesses (WEBs) and small- and medium-sized businesses (SMEs). FCMB will use the proceeds of the Line of Credit to finance SMEs and WEBs in […]
Ecobank, FBNQuest, GTBank, Parthian Partners sponsor financial markets conference
Innocent ObasiOctober 20, 2022
The Sixth Annual Financial Markets Conference will be held on Wednesday, 2 November, 2022 with the theme “Impact of Monetary Policy Framework and Liquid Market on the Economy”. Ecobank, a regional commercial bank; FBNQuest, the unified brand identity of FBNHoldings Plc’s merchant banking and asset management businesses; GTBank, a leading African bank; and Parthian Partners, […]
Wema Bank to share growth strategies for tech start-ups, SMEs at October webinar
Rosemary IwualaOctober 19, 2022
By Rosemary Iwuala Wema Bank Plc has announced that the next edition of its quarterly webinar, aimed at assisting Small and Medium-scale Enterprise (SME) and early-stage start-up segments of its customer base, will hold on Friday, 21 October. In a statement, Arthur Nkemeh, head of SME Banking at Wema Bank, said the webinar, themed “From […]
First Bank launches retail products to enhance market operations
Chisom NwatuOctober 19, 2022
By Chisom Nwatu First Bank Nigeria Limited has announced a variety of retail products to enhance the operations and sustenance of various businesses in the country. The bank disclosed this in a press release signed by Folake Ani-Mumuney, its group head, Marketing and Corporate Communication. “As a bank woven into the fabric of society, […]
Polaris Bank marks breast cancer awareness month
Rosemary IwualaOctober 18, 2022
By Rosemary Iwuala …calls for greater partnership among stakeholders Polaris Bank has called for greater partnership among stakeholders to increase awareness of breast cancer and to raise funds for research into its cause and prevention, saying that increased awareness, advocacy, and support will go a long way to reduce the incidence of the disease […]
Fidelity Bank redeems its $400m Eurobond
Innocent ObasiOctober 18, 2022
By Innocent Obasi Nigeria’s leading tier-2 lender Fidelity Bank Plc. on Monday announced the redemption of its $400 million Eurobond notes due October 17, 2022. The $400 million 5-year Eurobond was successfully issued by the bank on October 17, 2017. The transaction also included a Tender Offer (the “Tender Offer” or “Offer”) for the refinancing […]
Emefiele, Alawuba, others lead discourse at UBA international banking conference in New York
Rosemary IwualaOctober 18, 2022
By Rosemary Iwuala Nigeria’s central bank (CBN), Godwin Emefiele, and the Group managing director/CEO of United Bank for Africa (UBA) Plc, Oliver Alawuba, will join other experts from the global international markets to lead discussions on global economic trends at the 2022 edition of the UBA Group International Banking Conference. The four-day […]