Wema Bank posts N13.51bn revenue shortfall as loan restructuring bites
Arakunle Kayode
April 27, 2021
Arakunle Kayode Wema Bank recorded a sharp decline in revenue generated for the year 2020 on the back of the COVID-19 pandemic, its recently released financial statement shows. According to the bank’s financial statements released on Monday, the bank recorded a N13.51 billion shortfall in revenue for year 2020, as it generated a […]
Declining interest income cost GTBank N6.7bn decline in gross earnings during Q1 2021
Guaranty trust bankApril 23, 2021
Bank’s E-business segment stands as the best performer despite CBN’s NIP charges guidelines in Q4’20 Posts 7.8%y/y decline in PBT to N53.7bn; 9%y/y fall in PAT to N45.5bn Charles Abuede After a blockbuster performance during the fourth quarter of 2020 where it recorded a 19.5 per cent quarter on quarter growth in gross earnings, Nigeria’s […]
UBA posts positive bottom-line performance as PAT grew 27% y/y to N38.2bn in Q1
Charles AbuedeApril 22, 2021
Charles Abuede United Bank for Africa (UBA) Plc in its recently released unaudited financial results for the first quarter ended 31st March 2021 recorded a 25.29 per cent surge in bottom line even as interest income declined by 0.47 per cent during the first three months of 2021. Giving tribute to the banking […]
Pandemic induced pressures sliced Nigerian Breweries’ revenue by 4.3% y/y to N337bn; declares N0.69k final dividends
Charles AbuedeApril 8, 2021
Shareholders to receive 100% dividends payout in shares or cash options Charles Abuede Nigerian Breweries Plc, the foremost brewing company in Nigeria has recorded an improvement in its sales volume during the fiscal year 2020 in spite of the COVID-19 pandemic which negatively impacted businesses. Jordi Borrut Bel, Managing Director, Nigerian Breweries Plc disclosed […]
Reduced FX losses drove Access Bank Plc’s robust revenue growth by 14.7% y/y to N764.7bn amidst challenging operating environment
Charles AbuedeApril 1, 2021
Banking group reports an overwhelming Q4’20 numbers with falling gross earnings to N171.9bn Charles Abuede Nigeria’s top-most lender, Access Bank Plc has on Thursday announced a 14.7 per cent year on year growth in its total revenue (gross earnings) at N764.7 billion. The robust growth in gross earnings was principally driven by an […]
UAC Nigeria Plc announces a 2.7% y/y revenue growth to N81.4bn despite COVID-19 related disruptions
Charles AbuedeApril 1, 2021
Board has approved the unbundling of UPDC REIT units, valued at N3.6 billion, to UAC shareholders Charles Abuede The United African Company of Nigeria Plc has reported an increase in its revenue to N81.4 billion by 2.7 per cent year on year in full-year 2020 from N79.2 billion in 2019 despite the COVID-19 […]
BUA Cement Plc posts strong numbers as revenue surged 19.3% y/y to N209.4bn in 2020 despite challenging business environment
Charles AbuedeMarch 31, 2021
Proposes dividend of N2:067k to shareholders Charles Abuede BUA Cement Plc, a leading cement manufacturer and a subsidiary of BUA Group Plc has in its audited financial statement for the full-year 2020, announced a moderate improvement in its revenue from contracts with customers by 19.3 per cent year on year to N209.44 billion […]
Dangote puts life back in ANAMMCO with N63bn truck orders
Samson EchenimFebruary 25, 2020
By Samson Echenim Dangote Group says it has bought over 3,500 units of locally assembled Shacman trucks worth N63 billion at the production plant of Anambra Motor Manufacturing Company (ANAMMCO), Enugu in the last five years. The company said the order was delivered over a period of five years after Dangote Group signed an agreement with […]
First Homes Africa to leverage tech innovation to deliver 60,000 houses in four years
Omobayo AzeezOctober 13, 2019
By Omobayo Azeez A new entrant into the Nigerian real estate market, First Homes Africa, has promised to simplify the difficulties involved in owning personal houses in Nigeria by deploying tech-driven innovations to deliver 60,000 in the next four years. Francis Ekeng, founder of First Homes, said the initiative is meant to address […]
82% of Fidelity Bank’s total transactions done via digital platforms says CEO
Businessam StaffSeptember 3, 2019
Nnamdi Okonkwo, chief executive officer of Fidelity Bank PLC., has disclosed that, of all transactions carried out by customers of the bank in the first half of the year, about 82 percent were done through the bank’s various digital platforms. Okonkwo disclosed this, following the release of the bank’s half year financial result for the […]