Banking

Banks’ Loan Growth Slows On High Risk Environment

(Sundiata Finance) – Banks’ loan growth has slowed in the second quarter as macroeconomic uncertainties weaken lending to key sectors of the economy. The cumulative total loans and advances to customers of the 12 lenders that have released Half Year 2017 results dipped by 1.0 per cent to N13.37 trillion in June 2017. This compares to the half year period ...

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Fidelity Bank Launches New Promo, Targets 200 Customers

By Nse Anthony-Uko (Sundiata Finance) – As part of efforts to enhance savings culture and increase financial inclusion, Fidelity Bank Plc has introduced another promo, through which the bank seeks to give out N110 million in cash to 200 customers. This promo which is the 10th savings promo in seven years by the bank is slated to last for six ...

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Fidelity Bank Launches New Promo, Targets 200 Customers

By Nse Anthony-Uko (Sundiata Finance) – As part of efforts to enhance savings culture and increase financial inclusion, Fidelity Bank Plc has introduced another promo, through which the bank seeks to give out N110 million in cash to 200 customers. This promo which is the 10th savings promo in seven years by the bank is slated to last for six ...

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Higher Interest Rates Raise Banks’ Income Amid Shrinking Loan Book

(Sundiata Finance) –Nigerian Banks have seen interest income spike on the back of increased interest on loan book and investment securities, despite slow growth in loans and advances and deposits. Analysts also attribute the growth in revenue to repricing, on the back of a high interest rate environment which resulted in increased yield on assets. The banks have dollar denominated ...

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First Bank Sets Aside N15bn For Schools’ Financing

By Nse Anthony-Uko, (Sundiata Post) — As schools resume for another academic session, First Bank of Nigeria Limited, says it has set aside a N15 billion facility to be disbursed to private schools though its array of products designed to enable them acquire attractive educational facilities to support their business whilst empowering parents and guardians to seamlessly send their wards ...

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Fidelity Bank Beat Profit Estimates On Lower Operating Expenses

(Sundiata Finance) – Fidelity Bank Plc reported second quarter profit that beat estimates as the lender’s operating expenses were reduced to the barest minimum amid inflationary pressure. For the first six months through June 2017, net profit rose 66 percent to N9.03 billion from N5.45 billion the previous year. Analysts had predicted N7 billion, according to a BusinessDay survey. Gross ...

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How Nigerian Banks Can Turn Around Unprofitable Corporate Clients

(Sundiata Post) – Bank profitability has been significantly hit by the deteriorating macroeconomic fortunes. As the Nigerian economy plunged into recession for the first time in two and half decades because of weak oil prices and declined production volumes, the asset quality of Nigerian banks deteriorated. Trans Forcados pipeline, a major evacuation route for onshore oil production , has been ...

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Union Bank Gets SEC Approval To Raise N50bn Rights Issue

(Sundiata Finance) – Following the announcement that it will float a N50 billion rights issue in 2017, Union Bank has received approvals from the Securities and Exchange Commission (SEC) to move forward on raising the Tier 1 capital. The lender in a statement said it anticipates that the rights issue will be open for subscription in September 2017. During the ...

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NDIC Seeks Increased Focus On Financial Literacy, Protection

• As 46 Staff Get MBAs From Scotland By Nse Anthony-Uko (Sundiata Finance) – Managing director and chief executive of the Nigeria Deposit Insurance Corporation (NDIC) Alhaji Umaru Ibrahim has stressed the need for Nigeria to pay more attention to issues such as financial literacy, consumer protection, sustainability and innovative financial services solutions. According to him, the banking environment was ...

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Stanbic IBTC Profit Beats Estimates For 8th Time In A Row

(Sundiata Finance) – Stanbic IBTC Holdings Plc, the third largest Nigerian lender by market value, reported a strong second-quarter profit that was aided by increase in interest income on its loan book. Net profit rose to N24.11 billion in the six months to June 30, from N11.31 billion, the company said Tuesday in an exchange filing. 10 analysts polled by ...

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