GTB adopts aggressive cost-cutting to cover revenue weakness

Major Nigeria banking institution, Guaranty Trust Bank Plc, is in the forefront of aggressive cost cutting drive of banks unable to grow revenue. Cost cutting has been the bank’s profit growth strategy since 2017 – when it lifted net profit a clear 27 percent from flat growth in gross earnings. In 2018, the bank again […]

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Access Bank N15 Billion Green Bond Set to be the First Cross Listing On NSE-LuxSE

The news of Access Bank’s proposed listing of its N15Bn Green Bond on the Luxembourg Stock Exchange (LuxSE) has created some excitement in the fixed income market. This 15.50 percent fixed rate green bond with five-year maturity is the first-ever climate bonds standard certified corporate green bond to be issued in Africa, and was first […]

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Dangote Emerges Africa’s Wealthiest for Ninth Successive Year

The Chairman, Dangote Group, Aliko Dangote has been named the wealthiest person in Africa for the ninth consecutive year. However, the latest ranking of the world’s billionaires by Forbes estimated that his net worth dropped by $200m from $10.3bn to $10.1bn in one year. The American media company attributed this to the slightly lower stock […]

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Elumelu Foundation Disburses AfDB $5m Partnership Funding To Beneficiaries

Founder Tony Elumelu Foundation, Mr Tony Elumelu, has congratulated the African Development Bank (AfDB), and its President, Akinwumi Adesina, for the fulfillment of the commitment to the TEF entrepreneurship scheme, with the disbursement of $2.5million seed capital to the AfDB-sponsored beneficiaries of the 2019 TEF Entrepreneurship Programme. $2.5m of the entire funds had been released […]

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Z Woman

Zenith Bank Unveils Women Empowerment Product- Z-WOMAN

Foremost Nigeria’s financial institution, Zenith Bank Plc, has unveiled a new product, Z-Woman, which is focused on empowering female business owners. Z-Woman account holders stand a chance to enjoy loans of up to N10 million at a single-digit interest rate, free digital skills training, and free exhibition stands at Zenith Bank events and many other […]

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UBA Revamps NextGen Account with Premium Offerings, Partners DRB LasGidi

Pan-African lending institution, United Bank for Africa (UBA) Plc, has revamped its NextGen account which targets students in tertiary institutions and members of the National Youth Service Corps (NYSC), with added features and benefits. NextGen is a suit of personal accounts designed to meet the needs of young persons, grooming and growing with them from […]

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NDIC Creates New Unit On Fintech and Innovation

The Nigeria Deposit Insurance Corporation (NDIC) has responded to technological innovations and applications in financial services with the establishment of a new “FINTECH AND INNOVATIONS UNIT” to align with contemporary trends in advanced economies. The development is also in consonancewith the Corporation’s Strategic Vision, which is to become one of the best Deposit Insurers by […]

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Fidelity Bank lifts “World’s Greatest Maths” Teacher, offers him employment

Fidelity Bank Plc has brought succor to physically challenged Chemical Engineering graduate, Mr. Micheal Sowunmi who is fondly referred to as “the world’s greatest teacher” on account of his love for teaching. Sowunmi has been offered employment by top lender Fidelity Bank as a facilitator at the bank’s training academy known as CREST Academy. This […]

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UK CDC Group convenes Workshop For Equity Managers Others On ESG Impact

UK based development finance institution mandated to finance businesses across Africa and South Asia to create sustainable economic growth and jobs – CDC Group, is hosting a four-day workshop in Lagos focused on environmental, social and governance (ESG) implementation, in partnership with Norfund. The workshop has convened over 60 private equity fund managers and their […]

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Union Bank Announces Planned Divestment From UK Subsidiary

Nigeria’s major financial institution, Union Bank of Nigeria Plc, (“Union Bank”), has announced that it has entered a share sale and purchase agreement to divest of its 100% equity stake in Union Bank UK Plc. (“UBUK”). This sale is aligned with Union Bank’s strategy to geographically streamline its business operations to focus on growth opportunities […]

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Fidelity Bank doles out N120m in promo

Nigeria’s major financial services institution, Fidelity Bank Plc says it has given out N50m in its ‘Get Alert in Millions’ promo season four, out of the N120m which it plans to give out to its customers. The bank disclosed this when it gave out cash and other consolation prizes to winners in Lagos on Monday. […]

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UBA Connect Guarantees Customers Cash Withdrawals In Local Currencies

United Bank for Africa (UBA) Plc, has announced the official launch of a flagship product UBA Connect, a service that enables the customers of the bank to conduct traditional banking transactions at any UBA branch in the 20 African countries where the bank operates. The service, which is available to both customers and non-customers alike, […]

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