Wema Bank defies headwinds as Q3 PBT jumps 174% to N60.62bn
Post AMUGE
October 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 […]
Strong interest income, asset growth drive GTCO’s N1trn profit
Post AMUGEOctober 30, 2024
Joy Agwunobi Guaranty Trust Holding Company (GTCO), one of Nigeria’s leading tier-one financial institutions, has reported an after-tax profit of N1.08 trillion for the first nine months of 2024, driven primarily by a rise in interest income. The company’s report, based on data from the Nigerian Exchange Group (NGX), reveals that GTCO’s interest income increased […]
UBA records N1.80trn interest income in Q3, 2024
Post AMUGEOctober 21, 2024
Onome Amuge The latest financial report released by United Bank for Africa Plc (UBA) today, October 21, has revealed a 170.0 percent year-on-year growth in core income. The stellar performance, according to an assessment by Cordros Securities, was substantial enough to counterbalance a decline of 24.1 percent in non-core income, resulting in 14.3 percent growth […]
FBN Holdings gets new GMD
Post AMUGEOctober 19, 2024
Business a.m. Adebowale Oyedeji, new GMD,FBN Holdings FBN Holdings has announced the appointment of Adebowale Oyedeji as its new group managing director. This was disclosed in a corporate notice filed with the Nigerian Exchange Limited, on Friday. Oyedeji’s appointment takes effect from November 13 subject to the approval of the Central Bank of Nigeria and […]
CitiBank, StanChart rule the roost in Nigeria’s foreign capital importation
Post AMUGEOctober 11, 2024
Business a.m. The Nigerian banking sector’s prowess in attracting foreign capital was on full display in the second quarter of 2024, led by CitiBank Nigeria Limited and Standard Chartered Bank Nigeria, as the industry accounted for 43.15 percent of the total capital importation recorded by the National Bureau of Statistics (NBS) during the three-month period. […]
Access Bank gets approval in principle to operate in Namibia
Post AMUGEOctober 7, 2024
Busayo Samuel Access Bank Plc, the flagship subsidiary of Access Holdings Plc, is making an incursion into the Namibian banking landscape. The Holding Company, one of Africa’s Leading Corporations informed the Nigerian Exchange Limited and the investing public on Monday, through a letter, that it has obtained a provisional licence from the Bank of Namibia […]
Nigerian banks see inflation drive wage bills up in H1’24
Post AMUGEOctober 5, 2024
Onome Amuge Financial data from Nigeria’s top banks has shown that many commercial banks in the country have been experiencing rapidly increasing operating costs as a result of soaring wages and salaries for new hires, due to worsening inflation in the country. As a result, some banks have been forced to increase the pay of […]
UBA sets new earnings record in H1’24 with 40% growth to $1.37trn
Post AMUGESeptember 30, 2024
Declares interim dividend of N2.00 per share Business a.m. Africa’s global bank, United Bank for Africa (UBA) Plc,has reported double-digit growth across key financial metrics in its audited financial results for the first half of the year ended June 30, 2024. Notably, the bank’s gross earnings soared by 39.6 percent, rising from N981.77 billion in […]
Access Bank consolidates East African position with successful BancABC Tanzania acquisition
Post AMUGESeptember 26, 2024
Business a.m. L-R: Hassan Abdullahi, deputy managing director, Access Bank Tanzania; Henrietta Agyemang, team member, financial control, Access Bank Ghana; Imani John, country managing director, Access Bank Tanzania; Eloho Onoberhie, team member, subsidiaries, Access Bank Plc, and Olajumoke Oluwakemi Ajayi, chief operating officer, Access Bank Tanzania, at the event to mark Access Bank Tanzania’s ‘Operational […]
UBA numbers, history offer shareholders ‘rights’ to comfort on anniversary month
Post AMUGESeptember 23, 2024
Tony Elumelu, group chairman, United Bank for Africa (UBA) Plc Oliver Alawuba, group managing director/CEO, UBA Plc In a year in which pan-African financial giant, United Bank for Africa (UBA) Plc turned 75, and in the month in which Nigeria will celebrate its 64th Independence, the financial institution is believed to be getting set […]