Banking

Ecobank Raises Mastercard Limits For International Spend Holders

By Nse Anthony-Uko (Sundiata Finance) – Ecobank Nigeria has again reviewed, upwards, the daily limit that customers can spend with their naira MasterCards for international transactions. With this review, the spending limits currently applicable for customers, using an Ecobank naira MasterCard, for international spend on Point of Sale (PoS) and online channels was raised from $300 to $1,000, representing 333 ...

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Banks Deposits Dwindle As Customers Switch To T–bills, FX Purchase

(Sundiata Finance) – Nigerian banks’ deposit growth has hit a three-year low, due to increased appetite for Treasury Bills by customers and their move to clear up foreign exchange (FX) obligations. Analysts interviewed by BusinessDay agree that the slow growth in customer deposits is also partly explained by the high interest rates, which necessitated a deliberate reduction (by banks) in ...

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Diamond Bank To Train 50 Budding Nigerian Entrepreneurs

(Sundiata Finance) – Diamond Bank Plc said it is set to train and empower 50 entrepreneurs in the seventh edition of its Building Entrepreneurs Today (BET) initiative. The training, which is in partnership with the Enterprise Development Center of the Pan Atlantic University, is a core of the Bank’s corporate social responsibility initiative, and aimed at creating a new generation ...

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Big Banks Deepen Concentration As Profit Gap Widens

(Sundiata Finance) — Nigeria’s big five or tier one banks are deepening their concentration as a percentage of listed lenders market capitalisation, balance sheet size and profitability. Tier one lenders with primary listing in Lagos (First Bank, Zenith, Guaranty Trust Bank, Access Bank and United Bank for Africa), made up 71.68 per cent of the market capitalisation of N2.795 trillion ...

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Zenith Bank Makes Provision On 30% For 9mobile Loan

By Nse Anthony-Uko, With Agency (Sundiata Finance) — Zenith Bank Plc said it has made a provision on 30 per cent of its loan to 9mobile, formerly known as Etisalat Nigeria. The chief executive of the Bank, Peter Amangbo made the disclosure in a conference call, Reuters report. “We have taken about 30 per cent as a provision which we ...

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FirstBank Elevates Over 3000 Staff

By Nse Anthony-Uko (Sundiata Post) — First Bank of Nigeria Limited has promoted over 3000 of its workforce in its recent promotion exercise targeted at rewarding staff for strong performance in driving the Bank’s business. The Bank in recognition of the hard work and contributions of staff rolled out unprecedented promotions across board, moving up over 3000 staff members in ...

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Shareholders To Get 30k Interim Dividend, As GTBank Posts N101.1bn PBT

By Nse Anthony-Uko (Sundiata Post) — Guaranty Trust Bank plc (GTBank) has released its audited financial results for the half year ended June 30, 2017 to the Nigerian and London Stock Exchanges with profit before tax gaining 18 per cent to N101.1 billion from N85.69billion recorded in the corresponding period of June 2016. With significant increase in profitability, the bank’s ...

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29.9m Bank Customers Register For BVN – NIBSS  

By Nse Anthony-Uko (Sundiata Finance) – A total of 29.9 million bank customers have registered under the Bank Verification Number (BVN) exercise, the managing director of the Nigeria Inter-bank Settlement System plc, (NIBSS) Adebisi Shonubi has said. The figure is about a 100 per cent increase from the 14 million customers whose accounts are linked to their BVN. The Central ...

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Zenith Bank H1 Profit Rises By 112%

To Pay N7.85bn As Interim Dividend By Nse Anthony-Uko (Sundiata Finance) — Zenith International Bank Plc has continued to record strong performance despite the various Tchallenges it has to deal with. the lender declared a profit of N75.317 billion compared with N35.467 billion recorded in the first half of last year, representing growth of about 112.4 per cent. In its 2017 ...

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Fidelity Bank Bags LCCI’s SME Friendly Bank Award

By Nse Anthony-Uko (Sundiata Finance) — Fidelity Bank Plc,  has been awarded the “SME Friendly Bank of the Year 2017” in utmost recognition of its support for Micro Small Medium Enterprises (MSMEs) in Nigeria at the 2017 Lagos Chamber of Commerce & Industry (LCCI) Awards. As part of its core mandate of trade promotion and business and policy advocacy, the LCCI ...

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