Managers of Wealth Africa

Two private banks merge in Angola

Angolan banks Banco VTB África and Banco Privado Atlântico plan to merge their operations in Angola

Nedbank adds 529,000 customers

Nedbank says it grew its retail customer segment by 529,000 or 9%, to 6.4 million during the period ended December 2013.

Nedbank wants 'more clients doing more'

Nedbank Group the banking arm of Old Mutual Plc, will continue to invest in its transactional banking franchise, which it views as fundamental to its future growth strategy

Turf wars mar selection of Consolidated Bank CEO

Consolidated Bank of Kenya board is engaged in a power struggle that could affect the operation of the State-run outfit.

FirstRand Bank First-Half Earnings to Increase as Much as 26%

FirstRand is expanding in markets including Nigeria, Africa’s most populous country with 170 million people, in order to boost growth outside its core South African market.

Nigeria: Standard Chartered Encourages Nigerians to Save

Standard Chartered Bank Plc has said that there is need for people to save in order to boost investment in the country

Barclays Africa Beats Peers After Abstaining From Loan Chase

Barclays Africa Group Ltd.is outperforming its South African peers for the first time in three years after backing out of a chase for market share in unsecured lending helped stem bad loans and boost profit.

Absa wants to be SA’s No 1 bank

Absa Bank Limited, a wholly owned subsidiary of the Barclays Africa Group, aims to regain the leading market position in SA’s retail and business banking sphere, which remains its “biggest business in its biggest market”.

Tanzania: Stanbic Tanzania Set On Increasing Clients

Dar es Salaam — Stanbic Bank Tanzania, a member of Standard Bank Group has announced a special campaign aimed at increasing existing customers and grows its book.

Republic Bank Group makes profit

This represents an increase of 2.2% over the corresponding period last year.

Barclays' customer losses a worry

Barclays Africa will have to show it has stopped "bleeding customers" to reassure investors it is back on track when it releases its 2013 full-year results on Tuesday.

African Development Bank will not halt loans to Egypt

In comments to Asharq Al-Awasat, a senior executive from the African Development Bank denied the development finance institution would be halting its loans to Egypt.

FBC dumps merger plans

FBC Holdings Ltd will not merge its banking division, FBC Bank, with its mortgage unit, FBC Building Society, anymore after the central bank last week extended statutory capital requirements by another six years

Kenya': Barclays net profit down 13 per cent

Barclays Bank, Kenya's third largest lender by market value, reported yesterday net profit dropped 12.79 per cent to Sh7.62 billion in year ended December 2013 compared to Sh8.74 billion a year earlier.

QNB aims to be largest lender in Mideast and Africa by 2017

Currently the biggest bank in the Gulf region, it is looking for acquisition targets in Turkey, Morocco and sub-Saharan Africa, chief financial officer Ramzi Mari told Reuters in an interview at the bank’s Doha headquarters.

Nigerian Banks Named Among ‘Top 500 Global Banking Brands’

As Nigeria continues to chart the economic growth course, International financial affairs publication The Banker has named three Nigerian banks on its latest Brand Finance Banking 500 ranking.

African Bank battles as debtors fail to pay

SA's unsecured lender African Bank warned of a sharp fall in first-half profits on Wednesday, hit by rising bad loans as debt-laden consumers struggle to meet their payments.

Ecobank Ranked One of the Top African Banking Brands

Ecobank Transnational Incorporated has been declared the most valuable brand in Africa – outside South Africa

FirstRand considers expansion into Kenya

The financial services provider hopes to restart its expansion plans into the African continent and says this time Kenya could be the place to begin.

FirstRand booked $400 mln Ghana business in 2013, rethinks Kenya

South African lender FirstRand invested $400 million in Ghana last year, and is re-evaluating the business case for opening operations in Kenya, its chief executive said.

Retail Banking