Banking

Bidvest Group Begins Search for Bidvest Bank Buyer, Aiming to Minimize Retrenchments

By
July 6, 2024
Bidvest Bank will prioritise a buyer who will make minimal retrenchments as the bank goes up for sale. The bank currently employs over 1,500 employees. Bidvest Group, the parent company of the bank, today announced that the bank and its financial migration services arm FinGlobal, will be sold as part of a restructuring process. “Beyond looking for fair value of the asset, we will also…
Read more
Banking

Zenith Bank leads Nigerian lenders in new global ranking

By
July 3, 2023
Zenith Bank Plc has retained its ranking as the ‘Number One Bank in Nigeria by Tier-1 Capital’ in the 2023 top 1,000 world banks’ rankings published by The Banker Magazine. The bank had held its position as the number one Tier-1 bank in Nigeria for the fourteenth year…
Banking

Expert tasks CBN on exploitative bank charges

By
July 3, 2023
Mr Okechukwu Unegbu, a financial expert, has called on the Central Bank of Nigeria to check the multiplicity of service charges by Deposit Money Banks. Unegbu, a past president of the Chattered Institute of Bankers of Nigeria, made the appeal in an interview on Sunday in Abuja. According to him, banks no longer empathise with their customers, as was the case in the past. “What we have now is a…
Read more
Banking

Bank of Industry gets recognition in UK

By
June 16, 2023
The Bank of Industry says its key capital-raising transactions from the international financial market, which fueled its financial performance in 2022, have been recognised with local and international awards.The bank, in a statement, said its total assets had grown by 248…
Banking

Polaris Bank is restructuring and planning new financing

By
June 13, 2023
Polaris Bank says it has adopted a customer-centric approach as part of its restructuring in order to boost future success. The lender also said it was concluding plans to inject tier-ii capital in order to enhance the growth of its assets This was stated by the bank’s Managing Director/ Chief Executive Officer, Adekunle Sonola, in an interview with Proshare, where he shed light on the financial…
Read more
Banking

FG records N930bn two-month deficit - CBN

By
June 6, 2023
The Federal Government recorded N930.8bn fiscal deficit in January and February 2023 according to the Central Bank of Nigeria. The CBN stated in its monthly economic report for February 2023 that, “The estimated overall fiscal deficit of the FGN expanded in February, due…
Banking

UBA strengthens its alumni network

By
May 31, 2023
United Bank for Africa Plc has revamped the UBA Alumni Network Programme, aimed at fostering stronger connections and providing exclusive benefits to its esteemed former employees. According to the statement issued by the bank, in enhancing its initial promises, the revamped…
Banking

FCMB provides loans to customers to purchase airtime

By
May 31, 2023
First City Monument Bank has unveiled an innovative product called FCMB Airtime Advance, which allows customers to borrow funds from their bank accounts. A statement from the bank said it allowed borrowings ranging from N200 to N5,000 directly from their bank accounts for the purpose of purchasing airtime, regardless of their financial status. “This solution aims to provide immediate relief to…
Read more