Managers of Wealth Africa

First Bank, Polaris Bank Bounce Back

FBN Holdings’ NPLs has dropped significantly to 9.7 per cent as at December 31, 2019.

Egyptian bank enters region through Kenya

The Egyptian lender focuses on individuals, small and medium enterprises (SMEs), institutions and corporates.

Cost optimisation, others lift Zenth Bank Q1, 2020 profits

This top line growth is an outcome of the 43 per cent expansion in non-interest income from N32.7 billion in the prior-year period to N46.6 billion in March 2020.

Morocco’s Banque Populaire Announces Free Remote Services

Banque Populaire announced a set of measures and solidarity with its customers after the outbreak of COVID-19 in Morocco.

Uncertainty over alleged Access Bank’s bid to sack workers, close branches

This comes barely one year after Access acquired Diamond Bank in a $235million deal that reputedly created Africa’s largest bank by customers.

Nigeria’s Access Bank to Cut Staff Salaries to Avoid Job Losses

Nigerian banks are facing the threat of rising bad-debt levels as a crash in oil prices and the risk of a naira devaluation coincide with the Covid-19 pandemic that has shuttered businesses.

Shareholders Commend Access Bank’s 2019 Performance At AGM

On her part, Mrs Bakare said unlike some of its competitors, Access Bank has recorded an increased profit in the past three years, noting that shareholders have confidence in the board and management to continue to deliver improved performance, going forw

1.6m jobs set to be lost this year, Nedbank forecasts

While it took GDP growth approximately a year to reach its pre-crisis peak after the global recession, employment reached its pre-crisis peak four-and-a-half years later.

Zenith Bank’s Profit Before Tax Rises by 3%

The increased profits benefited from the twin effects of continuing top-line growth and focused cost-of-funds optimisation.

Polaris Bank, Strong in Performance Indicators

The Nigeria’s economy has been going through a spell of challenges in recent years.

Zenith Bank’s Gross Earnings Rise to N166.8bn in Q1

Profit before tax also improved by three per cent from N57.3 billion in Q1 2019 to N58.8 billion in Q1 2020.

Union Bank releases Q1 2020 result, records 14% profit increase

The report showed relative improvements across key financial indicators. As always, the summary is presented below.

UBA reports N30.1bn profit in Q1

The lender’s profit before tax for the Q1 period under review stood at N32.7 billion.

Peter Kenneth Sells Bank to Ksh2.5 Trillion Egyptian Firm

MBL is categorised as a small bank with 0.17 per cent market share as of February 2020, however, targeting high net worth persons and corporate institutions.

Egypt lender buys Mayfair Bank stake

The approval by the CBK will pave the way for commencement of operations as Mayfair CIB Bank Limited.

Central Bank of Kenya okays acquisition of Mayfair Bank

The acquisition is expected to diversify and strengthen the resilience of the Kenyan banking sector.

Stanbic Bank Botswana launches initiative to facilitate trade with China

Manokore said the program also empowers importers with insight and control of the entire importing and logistics process.

Bank profits to rise on bad loans relief

EFG said banks will therefore spend less money (charged on profit) on providing for bad loans which will support their bottom line in a difficult year.

Banks cut deposit rates to 3-year low

This was followed by a total overhaul to the 2016 laws, handing power back to banks to price loans as opposed to limiting margins to a maximum of four percent above CBR.

Big changes to banking trends during lockdown

Nedbank said it is also committed to helping all clients who are in good standing on a case-by-case basis.

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