Managers of Wealth Africa

World's Best Banks 2020: Africa

African banks delivered some of the world’s highest returns on equity last year, but current factors make a repeat performance unlikely.

Seven Nigerian Banks Record N209.16bn Profits

The bank’s total assets increased by 12 per cent from N6.35tn in December 2019

A Fintech & Innovations office for Bank of Ghana

The new office will oversee the drive in growth for financial technology

FNB assists 2300 small businesses with South African Future Trust funding

The assistance requested ranges from payment relief on existing loans, to merchant services device fee relief, as well as resources and guidance on navigating the Covid-19 crisis.

Wigwe: Recalibrating for the Future

Starting out as a management consultant, Wigwe, a celebrated banker and chartered accountant, is now renowned for supporting the establishment and growth of African businesses.

Reserve Bank bought R11.4bn worth of govt bonds during April

The bank's statement on assets and liabilities for April, released on Friday, shows that the bank now has over R20.65 billion worth of government bonds.

Access Bank Positions for Superior Customer Experience, Improved Efficiency

PwC noted that innovative financial institutions are already working to keep their distribution channels open

Kenya’s biggest banks restructure Sh176bn loans on coronavirus

“In April 2020, the seven largest banks restructured loans amounting to Sh176 billion.”

Banks have restructured Kshs 200B loans

CBK announced the measures freed more than 35 billion shillings to commercial banks to directly support borrowers facing repayment challenges.

Covid-19: Standard Chartered offers customers loan relief

The bank has also waived all its digital fees for clients amounting to Ksh5 Million monthly, a move that has since seen most clients prioritise mobile and digital banking for their banking needs.

Use your bank's digital platforms to unlock value during lockdown

The convenience and cost-effectiveness of digital banking are more important than ever before.

Egypts CIB Eyes Further Expansion in East Africa After Kenya Acquisition

Its acquisition of a 51 percent stake in the Kenyan lender, a “small bank” that mainly serves high net worth individuals and corporate customers, was approved by Kenya’s Central Bank in early April.

Republic of Ireland becomes African Development Bank Group 81st shareholder

Ireland’s Strategy for Africa 2025 includes a commitment to collaborate with the critical financial institution on the continent

StanChart restructures 6.4pc loans

The extensions reduce monthly instalment repayments.

Union Bank grosses N42.6bn in earnings

“We have reinforced our digital platforms to continue delivering value and convenience to our customers while aligning our focus areas to where opportunities emerge during and post COVID-19.“

First Bank, Polaris Bank Bounce Back

FBN Holdings’ NPLs has dropped significantly to 9.7 per cent as at December 31, 2019.

Egyptian bank enters region through Kenya

The Egyptian lender focuses on individuals, small and medium enterprises (SMEs), institutions and corporates.

Cost optimisation, others lift Zenth Bank Q1, 2020 profits

This top line growth is an outcome of the 43 per cent expansion in non-interest income from N32.7 billion in the prior-year period to N46.6 billion in March 2020.

Morocco’s Banque Populaire Announces Free Remote Services

Banque Populaire announced a set of measures and solidarity with its customers after the outbreak of COVID-19 in Morocco.

Uncertainty over alleged Access Bank’s bid to sack workers, close branches

This comes barely one year after Access acquired Diamond Bank in a $235million deal that reputedly created Africa’s largest bank by customers.

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