Managers of Wealth Africa

Africa’s Biggest Bank Sees Past Pandemic With Upbeat Outlook

Lender ready to yank all levers to drive down costs, CEO says

JP Morgan banks R340m on SA’s SMEs

Aims to create 1 000 permanent jobs over eight years.

Standard, Absa forecast sharp earnings gains in six months to June 30

In the two months of May and June 2021, relative to the two months in the prior period, revenues grew, driven from stronger non-interest revenue, costs grew as incentives normalised and credit performance was significantly better, and the credit-loss rati

Nedbank opens what looks likely to be a bumper reporting season for banks

Nedbank's share price rose more than 9% on Thursday

Standard Chartered H1 profit surges on strong business momentum

Operating profit jumped to $476 million from $91 million during the same period last year

FBNQuest Lists Series 19 Commercial Paper on FMDQ Securities Exchange

The company in a statement said the Series 19 CP, which is part of the bank’s N100 billion CP Program, will help the organisation meet its short-term liquidity needs and grant them access to alternative and cheaper source of funding.

Investment banking fees in MENA dip to $591mln in H1 2021

Equity capital market underwriting fees at the highest since 2018

Vista Bank Acquires BNP Paribas’ Guinea

The acquisition adds to Vista’s existing banking operations in Guinea, in addition to its banks in Burkina Faso, Sierra Leone and The Gambia.

Stanbic Bank named ‘Best Investment Bank’ in Euromoney 2021 Awards

In 2020, in the wake of the pandemic, Stanbic Bank played a key role in economic recovery through forming partnerships to mobilize resources to combat the COVID-19 pandemic.

CDC Group announces US$50m trade finance facility with Ecobank as part of its Covid-19 response

Provides systemic liquidity and supports vital supply chains across Africa’s markets; Sustains and increases access to goods and services during the pandemic; Bolsters economic opportunities and inclusive growth, in markets such as Togo, Burkina Fas

Africa’s best investment bank 2021: Standard Bank

Global banks remain strong competitors to local and regional firms like Standard Bank in the international debt capital markets and in big M&A deals.

Africa’s best bank for transaction services 2021: Citi

The business this year ranged from structuring supply chain finance for Safaricom in Kenya, to providing trade finance to cotton farmers in Togo and helping automate annuity payments by Sanlam Life Insurance.

Deutsche Bank finances critical health and transportation infrastructure in Ghana

The 203 million euro financing agreements, which benefit from 95 percent insurance cover by the African Trade Insurance agency ("ATI"), will fund four health and two transportation projects in Ghana

StanChart Q1 net profit up 19pc to Sh2.4bn

Non-interest income rose 11 per cent to Sh2.48 billion to make up for the reduced net interest income.

De-risking the World's Future Growth Engine: African Trade Insurance (ATI) joins The Canada-Africa Chamber of Business

ATI has a good market position in Africa, based on the scale of its underwriting penetration and benefits from significant local expertise and understanding in a number of African countries.

South African banks set for low returns, but may see impairment reversals

FirstRand's NPL ratio rose 109 basis points in 2020 to 5.04%, while Nedbank's surged 189 basis points over the same period.

FirstRand becomes second global bank after Citigroup to exit India

FirstRand which has $118 billion in assets, became the second global bank to exit India just within a week of Citigroup's decision.

After Citigroup, South Africa's FirstRand Bank to exit India after 12 years

First Rand India is a licensed financial services provider in India and operates as a "branch" of FirstRand Bank South Africa.

Top African Bank FirstRand Cuts Presence in India But Won’t Exit

“This has been a key enabler to FirstRand’s investment banking business’s strategy to grow its offerings on the broader African continent, but which only requires a representative office to execute.”

Severe drop in fees generated in sub-Saharan region, data shows

The value of M&A transactions with any sub-Saharan African company involvement reached $6.1bn, almost level with the same period in 2020, and a five-year low.

Investment Banking