Managers of Wealth Africa

FCMB Group Plc Posts Profit before Tax

The diversification of FCMB across commercial banking, investment banking and wealth management, provided some cushion as earnings from non-banking activities proved more resilient.

KQ flies into turbulence, posts biggest loss by a local firm listed in the stock market

The management of national airline Kenya Airways was yesterday at pains to assure investors of a turnaround in the carrier’s fortunes after announcing the biggest loss by a local firm listed in the stock market.

Nigeria's Skye Bank H1 pretax profit up 47.4 pct

Skye Bank's first-half pretax profit rose 47.4 percent to 10.71 billion naira, the Nigerian mid-tier lender said on Thursday.

Kenya Commercial Bank Group H1 2015 pretax profit up 13 pct

The bank reported pretax profit of 11.67 billion shillings in the first half last year.

Union Bank profit drops as CBN stringent rules bite

Analysts attribute the decline in profit to the stringent cash reserve requirements imposed by the Abuja based Central Bank.

KCB Group records H1 2015 pre-tax profit to KES 13.2 billion

KCB Group’s profit before tax grew 13 per cent in the first half ending June 2015

Barclays Africa winning back customers

The group’s local bank, Absa, has been bleeding customers over the past three to five years, losing in the region of a million clients annually.

Ecobank Profit Advances as African Lender Continues Cost Cutting

Ecobank Transnational Inc.’s first-half profit climbed 26 percent as Africa’s most geographically diverse lender maintained its efforts to curb expenses.

First National Bank sees 26 percent jump in second-quarter income

At the end of 2013, the bank announced it would expand a branch and relocate another in the Lynchburg area

Diamond Bank Half year profit falls on increased operating expenses

Diamond Bank’s couldn’t tame growth in operating expenses as cost to income ratio increased to 78.30 percent in 2015 from 75.05 percent the previous year.

Fitch: SA’s big banks face headwinds

Fitch also warned that the close correlation of financial institutions posed the risk of a domino effect should the sovereign rating be downgraded by one notch.

Banks Increase Provisioning for Bad Loans in First Half Results

Commenting on the development, an economist and financial analyst, Dr. Abiodun Adedipe told THISDAY that the provisioning is in line with state of the Nigerian economy.

Diamond Banks grows revenue to N103BN in six months

This is as reported in the bank’s unaudited half year results released to the Nigerian Stock Exchange in Lagos.

Bank M Tanzania report profit before tax

Bank M Tanzania has registered an increase of more than 25 per cent in profit before tax in the first half of the current year compared to the similar period last year.

Nigeria: Stanbic IBTC Records N68 Billion Half-Year Revenue

The Group maintained adequate capital to support its business in the first half of 2015

UBA Succeeds with N11.5 Billion Rights Issue

United Bank for Africa Plc has successfully raised N11.5 billion from the capital market through a rights issue.

Sanlam netted £10m from Intrinsic sale

Sanlam UK netted £10 million as a result of Old Mutual Wealth’s acquisition of network Intrinsic.

Swaziland: Standard Bank Records Highest Profit Growth

The bank’s loan and advances also showed a 22 per cent year on year growth

New African Bank set for slow rise from ashes

African Bank’s "good bank" is not expected to be profitable in the first year of operation

Nigeria’s Guaranty Trust Bank profit gains as loans falter

Guaranty Trust Bank Plc, Nigeria’s largest lender by market value, said first quarter profit climbed 14.92 percent after loans and advances faltered

ESG