Managers of Wealth Africa

Fidelity Bank profit rises 21% as PBT hits N30.4bn

Savings deposits now accounts for about 22.5% of total deposits

Absa posts flat profit growth on cost of rebranding

The last month has seen the Group, with headquarters in South Africa, engaged in rigorous campaigns as it rebranded to Absa Group after the former parent company Barclays Plc

Nedbank, FNB join Standard in offering to help the financially distressed

The lender said it could assist the SMEs to stabilise cash flow and consumers who wanted to cover unexpected expenses.

TymeBank signs up 4 000 new customers per day

The bank says it is well-positioned within the South African banking sector to implement its “unique” low-cost banking fee model, as well as customer experience value propositions.

Cooperative Bank net profit increases to Ksh 14B

However, the lender increased investment in Government securities by 46.8 per cent to Ksh 117.8 billion.

Seychelles: African Development Bank Supports Blue Economy with $800k Fund for African Private Sector Assistance (FAPA) grant

The country’s Blue Economy Strategic Policy and Road map prioritizes the development of new and emerging maritime sectors

Stanchart Kenya Posts Sh12.2Bn In Profit

Since 31 December 2018, the Loans and advances to customers increased 8 percent to Sh129 billion while the gross non-performing loans reduced 7 percent year-on-year.

BoT: Pension funds’ lending to govt goes beyond set limit

The report says the government remains the core investment avenue for pension funds

Absa Group reports improving revenue growth momentum for 2019

Overall, Absa’s balance sheet, revenue and earnings growth were in line with peers after lagging for a number of years.

Banking: Another wave of consolidation?

The banking sector remains highly concentrated with the Concentration Ratio (CR) of the six largest banks with respect to deposits and assets at 60.31 and 59.74% as at end December 2018 according to the CBN’s 2018 financial stability report.

FirstBank CEO Bags Award

Also, the statement disclosed that FirstBank was honoured for its role in demonstrating high performance across various metrics

Meet the German tycoon 'behind' push to nationalise Reserve Bank

Businessman boasts of influencing debate on Reserve Bank

KCB plans to venture into the DR Congo

The bank posted growth in profitability in Tanzania, Rwanda and Burundi, but profits in South Sudan and Uganda dropped.

Co-op Bank joins other big lenders in takeover binge

The Kenyan lenders have intensified acquisitions to bolster their balance sheets

KCB net profit rises to Sh25.1 billion on high interest income

Non-performing loans doubled from Sh32.6 billion to Sh63.3 billion after the lender inherited rogue NBK borrowers.

South Africa is spoiling it for banks finding growth elsewhere

South African bank shares are being hit by a moribund local economy.

We'll find growth in SA, says FNB CEO as customers struggle

As consumers transact less and those with credit struggle to service their debt, FNB says it has to pull levers of growth elsewhere, most notably by taking market share in insurance and investments. The bank’s parent company, FirstRand, warned duri

Universal banks in Ghana records 37 percent profit, according to Bank of Ghana report

Bank of Ghana report has shown that banking industry recorded a 37.7% increase in profit, translating into GH¢3.31 billion in 2019.

Access Bank to establish more African subsidiaries, Herbert Wigwe eyes Francophone region

By 2023, Access Bank will have consolidated its position as Africa’s gateway to the world with about 100 million customers in Nigeria and additional 20 million customers across our African subsidiaries.”

S.Africa's Absa reports 3% rise in full-year profit

"We still believe that a RoE target of 18% to 20% is appropriate for our group, although we do not envisage achieving it until 2022 at the earliest, which is heavily dependent on the state of SA's economy," the lender said in a statement.

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