UBA to raise N239.4bn through Rights Issue
Post AMUGE
November 18, 2024
Shareholders to receive one new share for five existing shares Rights Issue to strengthen regulatory capital, positions Group for growth in lending Bamidele Famoofo Tony Elumelu, group chairman, United Bank for Africa (UBA) Africa’s Global Bank, United Bank for Africa (UBA) Plc, will raise N239.4 billion through a Rights Issue of 6,839,884,274 ordinary shares […]
UBA, Mastercard launch new debit card to celebrate 75th anniversary
Post AMUGENovember 15, 2024
Joy Agwunobi United Bank for Africa (UBA) Plc, in partnership with Mastercard, has introduced a specially designed debit card in celebration of its 75th anniversary. The Bank described the initiative as a celebration of its enduring customer relationships, aimed at enhancing banking experiences through exclusive offers and discounts on multiple platforms. According to the bank, […]
Access Bank (UK) Limited to acquire Mauritius-based AfrAsia Bank Limited
Post AMUGENovember 14, 2024
Bamidele Famoofo Access Holdings Plc has announced that its banking group’s, subsidiary, The Access Bank UK Limited has entered into a binding agreement to acquire a majority equity stake in AfrAsia Bank Limited, the Republic of Mauritius’ third largest bank by total assets. Mauritius, renowned for its robust financial services sector which contributes 13.4 per […]
UBA appoints Henrietta Ugboh independent non-executive director
Post AMUGENovember 12, 2024
Owanari Duke retires from group board Henrietta Ugboh, newly appointed independent non-executive director, UBA Africa’s Global Bank, United Bank for Africa (UBA) Plc, has appointed Henrietta Ugboh as an independent non-executive director. The appointment has been approved by the relevant regulatory bodies, including the Central Bank of Nigeria. Tony Elumelu, UBA’s group chairman, commenting on […]
NDIC to begin Heritage Bank asset sale on December 4
Post AMUGENovember 11, 2024
Joy Agwunobi The Nigeria Deposit Insurance Corporation (NDIC) has announced that the sale of Heritage Bank’s assets will begin on December 4, 2024. In a statement issued recently, Bashir Nuhu, the director of Communication and Public Affairs at NDIC, disclosed that the corporation had already commenced the process of liquidating the defunct bank’s landed properties. […]
Access Bank UK boosts global expansion with New Hong Kong branch
Post AMUGENovember 8, 2024
Becomes First W’African Bank in Asian Country L-R: Mojalefa Mogono, Consulate General of South Africa in Hong Kong & Macau; Jamie Simmonds, CEO/MD, The Access Bank UK Limited; Oludare Folowosele, Consulate General of the Federal Republic of Nigeria in Hong Kong & Macau; Roosevelt Ogbonna, managing director/chief executive director, Access Bank Plc; Baher Sheweikhi, Consulate […]
FBN Holdings pursues N730bn capital base by Q1’25
Post AMUGENovember 6, 2024
Onome Amuge FBN Holdings has revealed its plans to surpass the minimum capital requirement set by the Central Bank of Nigeria (CBN), aiming to reach a total capital base of N730 billion by the first quarter of 2025. Nnamdi Okonkwo, the group managing director of FBN Holdings, discussed the company’s capital-raising strategy recently during the […]
Access Bank wins Best Digital, Best Website at 2024 Digital Jurist Awards
Post AMUGENovember 4, 2024
Business a.m. L-R: Adebowale Shonekan, head, network communications (Group & Subsidiaries), Access Bank Plc; Chukwudi Amadi, team lead, digital communications, Access Holdings Plc; Ezinne Nwene, team member, digital communications, Access Holdings Plc, receiving the Best Digital Commercial Bank award from Abbas Babagana, chief technical officer, Federal Ministry of Communications & Digital Economy at the Digital Jurist […]
Top 4 Nigerian lenders grow assets by 56% to N115 trn in nine months
Post AMUGENovember 4, 2024
Disburse N33.6 trillion as loans & advances Record N2.9 trillion profit Bamidele Famoofo Four leading commercial banks in Africa’s most populous economy increased their balance sheet size to N115 trillion in nine months of the financial year ending December 31, 2024. The lenders, Access Holdings Plc, FBN Holdings Plc, GTCO Plc and Zenith Bank jointly […]
Wema Bank defies headwinds as Q3 PBT jumps 174% to N60.62bn
Post AMUGEOctober 31, 2024
Onome Amuge Wema Bank Nigeria Plc has announced an increase in its pre-tax profit, with a 174 percent year-over-year (YoY) growth reported in the third quarter of 2024, despite operating in a challenging business environment. The bank’s unaudited consolidated financial statements, revealed that its pre-tax profit for the quarter stood at N60.62 billion, representing a […]