Leading banks post strong profits; Zenith, GTBank widen lead

By OKEY ONYENWEAKU and FELIX OLOYEDE Despite a weakening economy reflected in a drop in national gross domestic product (GDP) growth from 1.9 per cent in the first quarter of 2018, to 1.5 per cent in the second quarter, a number of local deposit money banks (DMBs) have shown resilience in shoring up their balance sheets. GTBank Plc, United Bank for More...

by Felix OLOYEDE | Published 4 months ago
By Felix OLOYEDE On Saturday, October 20th, 2018
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Higher operational cost drags Lafarge to N10.4bn loss in Q3 2018

Lafarge Africa Rising sales cost and total operating expenses forced  Lafarge Africa Plc to N10.37 billion loss  in the third quarter of 2018, compared  N937.9 million post-tax profit it declared during the same More...

By Felix OLOYEDE On Friday, October 19th, 2018
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Zenith Bank pre-tax profit up 10% to N167.3bn

Peter Amangbo, GMD/CEO, Zenith Bank Zenith Bank Plc recorded a Profit Before Tax (PBT) of N167 billion in nine months ended September 30, 2018, an increase of 9.7 per cent over N152.55 billion reported in nine months More...

By Felix OLOYEDE On Friday, October 19th, 2018
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Wema Bank profit grows 73% to N2.64bn

Ademola Adebise, new MD, Wema Bank Wema Bank Plc  has announced a 70 percent growth in Profit Before Tax (PBT), from N1.80billion in Q3’2017 to N3.07billion in Q3’2018. Profit after Tax (PAT) rose by 72.55 More...

By Felix OLOYEDE On Thursday, October 18th, 2018
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Lower impairment charges, fee income push GTBank post-tax profit up 13% in Q3

GTBank MD, Segun Agbaje, GTbank posted a 13 per cent rise in its profit-after-tax (PAT) on the back of lower impairment charges and double digit increase in fee and commission income, its just released third quarter More...

By Felix OLOYEDE On Wednesday, October 17th, 2018
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Afrinvest set to release 2018 Banking Sector Report on Oct. 22

Ike Chioke, Group Managing Director of Afrinvest Afrinvest (West Africa) Ltd will on October 22, 2018, in Abuja present the 2018 edition of its Annual Nigeria Banking Sector Report to the public. The report titled More...

By Felix OLOYEDE On Monday, October 15th, 2018
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Technology will break down old cultures in Banking and Finance- Jubril Aku

Jibril Aku, Chairman, SunTrust Bank Technology is laying a sledgehammer to the previous sturdy walls of time and space as a growing number of young Nigerians adopt mobile digital methods of taking care of their More...

By Felix OLOYEDE On Wednesday, October 10th, 2018
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How court case halts insurance recapitalization exercise

Litigation filed by some insurance stakeholders has forced the government to suspend the planned recapitalization of insurance firms operating in the country. The Insurance Shareholders Association of Nigeria (ISAN) More...

By Felix OLOYEDE On Wednesday, October 10th, 2018
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FG disburses N15.18bn interest-free loans

The Federal Government through Government Empowerment & Enterprise Programme (GEEP) has disbursed N15.183 billion in interest-free loans to over 300,000 market women, traders, artisans, farmers across all 36 More...