Managers of Wealth Africa

Nigeria’s Titan Trust Bank Profit Surged 52% in 2021 on Loan Book Expansion

Titan Trust Bank also continued to mobilize deposits which rose by 112% in the period to N182.38 billion.

SMEDAN, Sterling Bank to grant supportive funding to agro-based SMEs

Prospective beneficiaries may apply for financing within the range of N500,000 and N2.5 million.

African Bank reports full-year profit growth of nearly 40%

Profit after tax grew 38% to R736 million in the year to end September 2022.

Sterling Bank Retains “BBB+” Rating with Positive Outlook

The Bank also has strong Liquidity coverage for the mismatch in the maturity profiles of its deposit and loans, the liquid assets of the Bank provide adequate cushion resulting in Net Liquidity Surplus of N63.5b in the long-term.

African Bank adds over 500,000 new accounts – as it eyes a big move to business banking

However, one of the most encouraging aspects of the business is the growth in its transactional MyWORLD and credit card accounts and transactions.

Absa profit jumps 30 per cent on increased lending

It also benefited from increased investments in government debt securities whose yields have been rising in recent months.

Banking, Insurance Sectors’ Contribution to GDP Down 10% to N660.84bn

Analysts blamed the decline in financial institutions and insurance contribution to real GDP on macro economic challenges part of which is the hike in the inflation rate.

Ex-Diamond Bank Boss, Otti, Others Float Signature Bank

He said had decided to give opportunities to the younger generation to pilot the affairs of the Signature Bank.

Access Bank Empowers Agents with Solar Powered Fibre kiosks

Customers can locate a Closa agent near them by simply searching for ‘Access Closa Agent’ on Google Maps on their phone instead of walking long distances in search of a branch.”

Co-op Bank profit surges 47 per cent in nine months on revenue growth

Customer deposits rose 2.7 per cent to Sh432 billion, contributing to interest expenses rising 7.2 per cent to Sh11.6 billion.

South African Retail Sales Fall 0.6% Year on Year in September

On a month-on-month basis, sales were up 0.1%.

Kenya's big banks to maintain strong profitability - Fitch

The report by Fitch Rating shows Return On Asset (ROA) for top banks in the country will increase from 3.5 per cent to five per cent

Egypt’s Banque Misr lands $160m from the African Development Bank to finance SMEs

The loan forms part of the firm’s Private Sector Development Strategy.

Banks to use Treasury bonds as loan collateral

The key change in the ongoing reforms is for a borrowing bank to surrender ownership of the securities to the lending institution, which will hold the assets until the loan is settled.

Banks charged customers N715bn for electronic transactions

Credit-related fees and commissions, account maintenance costs, corporate finance fees, e-business revenue, asset management fees, and commission on foreign exchange deals were all included in the prices and commissions.

South Africa’s most exclusive credit cards – how much you need to earn to get them

According to the World Inequality report 2022, the country’s top 10% of income earners earn around R783,750 per annum or R65,310 per month, while the top 1% earn an estimated R2.58 million per annum or R215,330 per month.

StanChart retains position as Digital Bank of the Year

It said the bank in reclaiming the awards it won last year, underscored its position as the undisputed leader and authority in Ghana’s digital banking service provision.

Kenya defers Sh90bn debt payments on Eurobond miss

The resultant funding gap resulted in the country not honouring payments equivalent to 0.7 percent of the gross domestic product in the last financial year.

UBA Group Committed to Development of SMEs Across Africa, Set to Transform Payment Landscape via PAPSS

UBA has been the lead sponsorship partner for the annual event since 2019.

Zenith, Access, Wema lead peers in deposit growth

Total deposit base grew by 19.0 percent to N51.8 trillion in 2021

Retail Banking