Banking

Union Bank To Deploy Fresh Capital To Business Areas In 2018

By Nse Anthony-Uko (Sundiata Finance) – Chief executive officer of Union Bank, Mr. Emeka Emuwa, has the bank would deploy fresh capital across identified business areas and it is expected to increase capacity to serve customers better while accelerating the speed of doing business in 2018 and delivering returns to investors in short to medium term. In a statement issued ...

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Nigerian Stock Market Upbeat, Crosses 40,000 Points To 4-year High

By Nse Anthony-Uko (Sundiata Finance) – Nigerian stocks have rallied to their highest level since 2014, as the dust settles on a bruising economic recession that hammered company profits and share prices. The All Share Index (ASI) rose 1.29 per cent to 40,362.97 points Tuesday, January 9, according to data available on the website of the Nigerian Stock Exchange, its ...

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Diamond Bank Receives ISO/IEC 20000-1:2011 Certification On Infotech Security

By Nse Anthony-Uko (Sundiata Finance) – Diamond Bank has been awarded the  ISO/IEC 20000-1:2011 certification by the British Standard Institute (BSI) Group. The certification, which was awarded after a rigorous process and systems audit by qualified BSI auditors, is a seal of approval that the Bank’s network architecture, software design, security policies, procedures and protective practices conforms to global security ...

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CBN To Fine Banks N10,000 Per Week for Payment Infractions

By Nse Anthony-Uko (Sundiata Finance) – The Central Bank of Nigeria (CBN) has said banks that failed to comply with its payments system rules and regulations will be sanctioned N10,000 per week. The apex bank said operators in the National Payments System who failed to apply for licence in three months before the date of expiration will be penalized. The ...

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Fitch Forecast Lower Profitability For Nigerian Banks This Year

By Nse Anthony-Uko (Sundiata Finance) — Fitch, a global credit rating agency, has predicted negative outlook for Nigerian banks this year over continued fragility in the operating environment, stating that they may find it more difficult to sustain profitability given the decline in net Treasury Bill (T-bill) issuance in first quarter of 2018 issuance programme. Coupon rates on T-Bill and ...

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Banks Earn 64% of NSE 30 Profits In Q3

(Sundiata Finance) — Banks accounted for 64.2 per cent of NSE 30 Index’s profits earned in the first nine months of 2017 as the sector provides over 50 per cent liquidity on the exchange. Zenith Bank, Ecobank Transnational, Guaranty Trust Bank (GTBank), First Bank Nigeria Holdings, Stanbic IBTC Holdings, United Bank for Africa (UBA), Union Bank of Nigeria (UBN) and ...

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Bank Cheques To Clear Within Hours Soon

By Nse Anthony-Uko (Sundiata Finance) — Bank customers would soon be able to clear their cheques within hours thus paving the way for faster financial transactions within the country. Currently, bank cheques clear in 24 hours. The Nigeria Inter-Bank Settlement System (NIBSS) and Precise Financial Systems (PFS) is collaborating to unveil a new National Automated Clearing System (NACS) which allows ...

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Access Bank Boosts Customers’ Experience, Upgrades Mobile, Internet Banking Platforms

By Nse Anthony-Uko (Sundiata Finance) – Access Bank Plc has upgraded its Mobile and Internet banking platforms to provide an Omnichannel experience alongside a range of new and exciting features. The Omnichannel experience simply means customers of the 2017 Karlsruhe Outstanding Business Sustainability Award winner would enjoy a seamless and consistent interaction with the Bank across multiple channels. Speaking on ...

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The Banker Awards GTBank Nigeria’s Best Bank

By Nse Anthony-Uko (Sundiata Finance) — Guaranty Trust Bank Plc said it has been recognised as the 2017 ‘Bank of the Year Nigeria’ at the Banker Awards. The Banker Award event took place in London, United Kingdom, recently. The Banker, a publication of the Financial Times, is the world’s leading monthly journal of records for the banking Industry, with over ...

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