Banking

Banks Begin Restriction Of Fraudsters Accounts

By Nse Anthony-Uko ABUJA, (Sundiata Finance) – Commercial banks in the country have begun sensitizing their customers as the new policy which will bar fraudsters from accessing banking services in the country for up to 10 years. The Central Bank of Nigeria (CBN) had last month issued a circular to that effect which was to take immediate effect. To this ...

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Diamond Bank Divests From West African Operations To Focus on Nigeria

By Nse Anthony-Uko (Sundiata Finance) — Diamond Bank Plc – Nigeria’s fastest growing retail bank – is divesting from its West African banking operations in order to focus on Nigeria’s significant retail banking opportunity. The bank said on Friday that it has agreed to sell its operations in Benin, Togo, Cote d’Ivoire and Senegal to Manzi Finances S.A., a Cote ...

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Jaiz Bank Grows Post-tax Profit By 629% In Q3

By Nse Anthony-Uko (Sundiata Finance) – Jaiz Bank Plc, on Monday declared profit after tax (PAT) of N776.6 million for the third quarter ended September 30, 2017, representing an increase of 629 per cent when compared with N107.1 million recorded in the corresponding period of 2016. The Bank’s result released on the Nigerian Stock Exchange (NSE) recorded N4.5 billion income ...

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Make Your Cardless Withdrawals With Ecobank Mobile Xpress Cash

By Nse Anthony-Uko (Sundiata Finance) – The Ecobank Group has upgraded its Mobile App that will offer Xpress Cash service. The Xpress Cash service allows customers access cash from Ecobank Automated Teller Machine (ATMs) using e-Tokens generated from their Mobile App. The Xpress Cash e-Token gives the customer total control over theirs funds to make convenient withdrawal by self or ...

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Nigerian Banks Raise $1.7bn Eurobonds In 12 Months

(Sundiata Finance) – Nigerian banks have in the last 12 months raised US$1.7 billion in Eurobonds from the international capital markets, as they seek to boost their capital in the face of a more difficult operating environment in the country. The rush for Eurobonds is boosting the capital position of the banks as well as their dollar liquidity, following the ...

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Zenith Bank, Others Win Big At BusinessDay Banking Awards

(Sundiata Finance) – Deposit, merchant, investment and microfinance banks that made excellence and dedication to quality service delivery the core of their operations in 2016 emerged as winners at the BusinessDay Annual Banking Awards 2017. Zenith Bank, in continuation of its excellence tradition, won the Bank of the Year and the most customer friendly award categories at the awards which ...

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GTBank, Access, Zenith Bank Contribute N15.5bn To CBN’s Agric, SME Schemes

By Nse Anthony-Uko (Sundiata Finance) – Guaranty Trust Bank Plc (GTBank), Access Bank Plc and Zenith Bank Plc have contributed N15.5 billion to agricultural businesses as well as Small and Medium Enterprises (SMEs) initiatives introduced by the Central Bank of Nigeria (CBN) this year. Commercial banks operating in Nigeria were to contribute five per cent of their Profit after Tax ...

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Stocks Market Sustain Declining Trend, Shed N43bn

By Nse Anthony-Uko The Nigerian stocks market on Wednesday shed 0.34 per cent and extended downtrend to the second day in a row. In summary, the All Share Index (ASI) shed 123.78 absolute points, representing a decline of 0.34 per cent to close at 36,652.82 points. Similarly, the market capitalisation shed N43 billion, to close at N12.617 trillion. The downturn ...

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118 New Winners Emerge in Access Bank Family Fortune Promo

By Nse Anthony-Uko (Sundiata Finance) – Additional 118 winners have emerged in the second monthly selection of Access Bank Family Fortune Promo. The ongoing promo held at the Bank’s Alausa Branch in Ikeja produced 50 customers who won DSTV decoders while another 30 got N50,000 worth of shopping vouchers. Also, 20 customers won Samsung mobile phones, 10 customers won Home ...

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Investors Cut Emerging Markets Inflows In September By $14.5bn

By Nse Anthony-Uko (Sundiata Finance) – Foreign investors are cutting back on capital flows to debts and equities in emerging market debt as the inflows reduced in September for the second straight month to $14.5 billion according to a survey from the Institute of International Finance (IIF). The IIF survey showed that caution about the United States Federal Reserve’s path ...

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