Managers of Wealth Africa

Co-op Bank records flat profit in Q1

Banks expect reduced demand for loans in the wake of the coronavirus crisis, which has hit business activity in what will ultimately slow down lenders’ profits.

KCB Group posts a Ksh. 6.3 Billion net profit for the first quarter

The rise in profitability was largely due to a 20.4 percent rise in interest income to Ksh.

Ghana Banks Heading for Lowest Profit Since End of Cleanup

While Ghana became the first African country last month to ease restrictions on citizens

Equity Group restructures customer loans

Clients who can demonstrate the impact of Covid-19 on their businesses and soundness of their business model in the new normal will get reprieve of loan rescheduling and refinancing with up to an additional three years of repayment.

KCB records 8.4pc growth in first quarter net profit

The earnings included the performance of the newly-acquired subsidiary, National Bank of Kenya (NBK), whose net profit more than doubled to Sh154.9 million from Sh66.2 million over the same period.

Investec : Results for the year ended 31 March 2020

The prior year has been restated to reflect a like-for-like basis aiding comparability between periods.

Driving Financial Inclusion in Nigeria

Adegoke Adegbami, CEO of Mainstreet Microfinance Bank, discusses how digitisation and a customer-centric attitude are critical to extending financial access to all

Land Bank faces credit crunch due to Moody's downgrades

When Moody's downgraded SA's sovereign rating in March into "junk," Land Bank was further relegated into sub investment grade.

ACI Worldwide to drive payments transformation for South Africa’s ACS, a division of Altron

Leading South African processor and technology company to leverage ACI’s UP Retail Payments.

Zimbabwe: Zim to Benefit From Standard Chartered Us$11,8m Package

Eight African markets to receive the Red Cross support include; Botswana, Cameroon, Kenya, Nigeria, , Sierra Leone, South Africa, Tanzania and Zimbabwe.

Pointbreak Money Market Fund resilient in volatile markets

Bank deposit rates have continued to edge lower because of market conditions and excess cash liquidity in the banking system. There is a possibility that the bank rate drops again this year.

A waiting game for banks as job losses threaten unprecedented credit losses

Debt counselling company DebtBusters says people already under debt management have been asking their creditors for more debt restructuring.

Reserve Bank expected to cut interest rate to near 50-year low this week

The Reserve Bank has already joined the world's leading central banks in aggressively cutting interest rates and increasing bond purchases in an attempt to shore up liquidity.

Fidelity Bank PLC: Frail earnings outlook but valuations still attractive

Despite the substantial growth in loan book in 2019 (up 33% y/y) amidst frail macro conditions, we do not envisage a significant deterioration in Fidelity Bank’s asset quality.

FBNBank introduces Unity Link money transfer service

The Unity Link money transfer service allows customers to receive their remittances directly into their accounts with the bank.

First quarter real-time bank transfers rise fastest in six years

The value of cheques, cleared at the Automated Clearing House run by the Kenya Bankers Association, during January-March 2020 was flat, rising 0.27 percent to Sh647.05 billion.

KCB to inject Sh3bn more into ailing National Bank

NBK results for the year ended December shows that the lender fell short of the required capital to back its lending and deposit-taking activities.

Stanbic Bank increases deposits, expands loan book to Ksh 161b

The bank’s loan book also saw an increase of 12% percent to KSh 161 billion from144.7 billion in the first quarter of 2019.

GTbank Approves N73.577bn Dividend For FY 2019

The board of directors, Guaranty Trust Bank Plc, has approved the sum of N73.577 billion to be paid as dividend at a rate of N2.50 per 50 Kobo ordinary share. At the bank’s thirtieth Annual General Meeting held at the Oriental Hotel, 3, Lekki Road

Moody’s downgrades banks on Treasury bond exposure

“All three banks’ local-currency deposit ratings of B2 are at the same rating level of the government, and a potential weakening in the government’s credit profile will lead to a weaker credit profile for the banks.”

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