Managers of Wealth Africa

Unity Bank posts N44.5 billion as gross earnings in 2019

The Bank had embarked on several cost minimization initiatives that have continued to yield positive results.

Tanzania’s TPB stronger from latest bank merger

In May 2018, TPB Bank took over the former Twiga Bancorp and, three months later (August 2018), it did the same with the Tanzania Women’s Bank (TWB).

Zenith leads as Banks defy COVID-19, post increased profits in Q1

Zenith Bank recorded the most profit after tax during the period with N50.5 billion.

South African banks at risk of deepest profit slump in 50 years

Standard Bank Group reported its sole annual-profit decline in 2010 in the wake of the global financial crisis, while FirstRand Ltd.’s earnings shrank in 2008 and 2009.

Absa says separation programme from Barclays almost complete

The financial service provider said that a total of 270 projects have been delivered as part of the separation programme

AfreximBank may extend facilities to local banks

The facilities aim to help the banks boost their foreign exchange liquidity

South African Banks at Risk of Deepest Profit Slump in 50 Years

Standard Bank Group reported its sole annual-profit decline in 2010 in the wake of the global financial crisis, while FirstRand Ltd.’s earnings shrank in 2008 and 2009.

Covid-19 shock dims earnings prospects for EA banks for 2020

“Banks will remain sceptical on lending (especially to retail and SMEs). Expect them to put cash in government securities but that cannot guarantee 100 per cent absorption of new deposits,” said Eric Munywoki, a financial analyst at Goodson Ca

Absa puts growth on hold to preserve cash

Absa is not the only company to put a damper on growth ambitions in the interest of preserving capital.

SA cashless payments startup Sticitt raises $249k funding

Sticitt has taken in two batches of funding in 2020 to cover operational expenses of its current market rollouts, which include the launch of its Sticitt Terminal application, allowing its merchants to accept tap or scan-to-pay payments.

Citi defies coronavirus with Western European corporate lending push

The 15 offices are predominantly in central and eastern Europe including Poland, Turkey and Russia.

Sipho Pityana appointed as Absa lead independent director

Absa also announced that former PwC Africa's chief operating officer, Fulvio Tonelli, will join the group as a non-independent non-executive director from 1 July 2020.

Virus Wipes 20% Off Income of South African Bank’s Customers

Banks have all extended relief to clients to help shore up their cash flows

Africa’s Largest Bank Is Getting Sucked Into A Pandemic-Shaped Hole

The decline may have been expected as the disruptions to finances and financial services, since the COVID-19 outbreak, have been quite significant.

Spooked Standard Bank sheds 5% on flagged profit decline

Standard Bank intends to release another earnings guidance at a later stage once it is confident about the guidance ranges.

U.S., Nigeria Square Up for Tussle Over African Bank Chief

Largest shareholder Nigeria says fresh probe undermines bank

NC, CBA merger to create Shs548b bank

The merger is expected to give the two banks an edge that is likely to build a relatively large financial base

Nigeria’s Access Bank injects $9m into Rwandan subsidiary

Access Bank Plc owns 75 per cent shareholding in its Rwandan subsidiary

Access Bank to customers: beware of scams

Access Bank is imploring its customers to be wary of any message, demanding their personal or bank details

SBM Bank reports Sh66 million Q1 profit before tax

The growth in business has largely been achieved through growth in loans and advances and customer deposits, the lender has said.

Retail Banking