Access Holdings sees 133.5% revenue growth in H1’24 to N2.2trn
Post AMUGE
September 23, 2024
Onome Amuge Access Holdings Plc, one of Nigeria’s leading financial heavyweights, has proven its mettle yet again by delivering a triple-digit punch to its profitability metrics. In a display of financial fortitude, the group’s gross revenue skyrocketed 133.5 percent year-on-year, from N940 billion in half year 2023 to N2.2 trillion in half year 2024, buoyed […]
Sterling HoldCo taps $50m in private placement for long-term growth strategy
Post AMUGESeptember 20, 2024
Joy Agwunobi Sterling Financial Holdings Company PLC has unlocked a $50 million war chest, catapulting its subsidiaries closer to satisfying the Central Bank of Nigeria’s (CBN) recapitalisation demands in a single, game-changing manoeuvre. The firm announced that it had successfully completed a private placement, raising approximately N75 billion from a consortium of domestic investors and […]
Sterling HoldCo secures $50m capital injection on CBN’s recapitalisation directive
Post AMUGESeptember 19, 2024
Joy Agwunobi Sterling Financial Holdings Company PLC recently secured a $50 million, approximately N75 billion capital injection from its investors, a move aimed at meeting the Central Bank of Nigeria’s (CBN) recapitalisation requirements. The funds, raised through a private placement involving a consortium of domestic investors and ultra-high net worth groups based in Lagos, are […]
GTCO writes new chapter with N1trn half-year profit
Post AMUGESeptember 14, 2024
Business a.m. Guaranty Trust Holding Company Plc (GTCO) has blazed a trail in the Nigerian financial industry, becoming the first institution to break the N1 trillion profit barrier. This is as the company’s audited consolidated and separate financial statements for the period ending June 30, 2024, released to the Nigerian Exchange Group (NGX) and London […]
@60 AfDB renews focus on boosting Africa’s investment environment
Post AMUGESeptember 13, 2024
Onome Amuge The African Development Bank (AfDB), Africa’s premier multilateral financial institution, has marked its diamond jubilee with a resounding commitment to leading the continent’s march towards a transformational and sustainable future. The occasion was solidified by the launch and pricing of a new $2 billion social benchmark transaction, with a maturity date of 18 […]
Stakeholders at Zenith Bank trade seminar canvass value addition for non-oil exports
Post AMUGESeptember 9, 2024
Business a.m. Reporter More efforts have been canvassed for value addition to take the pride of place in Nigeria’s non-oil products for export, stakeholders showed at a recent international trade seminar organised by Zenith Bank Plc. In its ninth edition, the annual event had as theme for this year, “Nigerian Non-Oil Export Industry: Awakening the […]
Euromoney names GTBank best bank for CSR in Nigeria
Post AMUGESeptember 9, 2024
Guaranty Trust Bank Ltd (GTBank), the flagship subsidiary of Guaranty Trust Holding Company Plc (GTCO), one of the largest financial services institutions in Africa, has been named Best Bank in Corporate Social Responsibility in Nigeria at the prestigious Euromoney Awards for Excellence 2024. This recognition underscores GTCO’s unwavering commitment to excellence, going beyond offering innovative […]
CBN lending dives 76% to N4trn as banks opt for higher SDF rates
Post AMUGESeptember 4, 2024
Business a.m. The Central Bank of Nigeria (CBN) has reported a significant decrease in the volume of bank borrowings from its Standing Lending Facility (SLF) in August, indicating a possible easing of financial pressure on Nigerian banks. According to CBN data, banks’ SLF borrowings dropped by 76.4 percent month-on-month (MoM) in August, falling to N4.04 […]
Mansur Muhtar takes the reins as Tinubu’s Pick for Bank of Industry chair
Post AMUGESeptember 2, 2024
Business a.m. President Bola Tinubu has unveiled a new board of directors for the Bank of Industry (BOI), with Mansur Muhtar appointed as the chairman. The new board of the Bank of Industry was announced in a statement released by Ajuri Ngalale, the presidential spokesperson, revealing the names of other key appointees in addition to […]
Interest income boosts Zenith Bank to N578bn profit in H1’24
Post AMUGESeptember 2, 2024
Business a.m. Zenith Bank, Nigeria’s second largest lender by market value, has recorded a 100 percent surge in net profit for the first half of 2024, hitting N578 billion compared to the same period last year. The bank’s outstanding performance was propelled by the aggressive interest rate hikes introduced by the CBN to quell inflationary […]