Managers of Wealth Africa

Morocco's BMCE Bank says first-half net profit up 18 pct

BMCE's net provisions fell to 806 million dirhams, down 24 percent from a year earlier as the bank recovered more than 700 million dirhams of provisions.

Brooks Macdonald reports profit increase and wins South African mandate

Chief executive Chris Macdonald said: "This has been a year of substantive progress for the Group. We have continued to grow funds under management and increase profits whilst making considerable progress on our IT development, our distribution, impr

Investec puts brave face on South African economy

Investec, the London and Johannesburg-listed bank, has reported strong performances across both its businesses despite the economic contraction in South Africa, although the nation's weakened currency will hit its earnings.

Big four banks’ earnings hit highs

Standard Bank’s corporate and investment banking division was the best performer, seeing a 21.9% surge in loans and advances to customers.

Increased business momentum spur FCMB to growth as earnings surged

Interest income increased by 15%

FirstRand Tightens Lending as Bad-Debt Levels Rise Amid Slowdown

South Africa’s economy contracted by 1.3 percent in the second quarter with consumers battered by power shortages, higher inflation and a rising interest-rate cycle.

FirstRand FY profit rises 17% buoyed by retail banking

Net income rose to R21.6 billion.

Morocco's Attijariwafa bank H1 net profit rises 2.2 pct

The bank said it had set aside an additional 1.6 billion dirhams in provisions

UBA Mid-year Earnings Hit N167 Billion

The pan-African financial services group, United Bank for Africa Plc, has announced its audited 2015 half-year financial results.

Fortis microfinance bank taps Nigeria large market as earnings spike

Fortis Microfinance Bank (FMB) Plc has tapped into the large Nigerian market as half year earnings upsurge amid a tough operating environments crimping the growth of companies in Africa’s largest economy.

Pension fund withdrawals hurt Sanlam

Sanlam yesterday announced that two major pension funds had withdrawn a total of R13 billion of their funds managed by the group as the financial services group reported disappointing interim results.

Diamond’s Atlas Mara on lookout for more deals after swing to profit

It said it continued to “evaluate further acquisitions” to expand, and was still in talks to buy a substantial stake in Banque Populaire du Rwanda.

Standard Bank Namibia posts good results

Standard Bank Namibia Holdings produced a positive performance for the six months

Sterling Bank Grows Earnings By 12% In H1

Major highlights of the account showed that gross earnings rose by 12 percent to N55 billion.

Access Bank Grows Profit by 44 %

Similarly, non-interest income rose 101 per cent to N69.4 billion in 2015 from N34.6 billion in 2014.

Zimbabwe: MBCA Clients to Access Lending From Nedbank

It is news of direct access to relatively priced South African loans that may excite hundreds of MBCA Bank's struggling industrial customers currently enduring high interest rates in Zimbabwe of up to 30 percent.

Liberty First-Half Profit Rises 6.7% on Investment Income

The insurer increased the interim dividend 9 percent to 2.54 rand per share.

Old Mutual profit rises on U.K., S. Africa boost

Net profit for the six months ended June 30 rose to 260 million pounds ($405.5 million) from GBP213 million the previous year, funds under management climbed 7% to GBP335.7 billion and the interim dividend rose 8% to 2.65 pence.

Old Mutual's first-half profit boosted by African, funds units

Across the group it's been a very good first half

Equity Bank on a roll

Equity Bank’s earnings fell short of rivals Kenya Commercial Bank Group that last week reported a 13 per cent pre-tax profit to Sh13.2 billion.

ESG