Managers of Wealth Africa

Centrum To Acquire Stake In Local Bank

Centum Investment Company Limited (Centum) is set to acquire shares from existing shareholders at K-Rep Bank Limited.

Nigeria: Investors Eye Nigeria's Pool of Opportunities

Investors surge towards Africa's largest economy, Nigeria, is rapidly increasing. Thanks to the country's budding economy, its openness to doing business and robust entrepreneurial spirit.

Ecobank making progress in resolving governance problems, Mike Brown says

Pan African lender Ecobank Transnational has made progress in resolving governance problems, Mike Brown, the chief executive of its alliance partner Nedbank Group,

Skye Bank grows total assets to N1.131trn

However, the bank said its profit before tax dropped to N7.266 billion as against N10.545 billion during the corresponding period in 2013

Diamond Bank posts N13.8bn half-year profit

He said the bank “maintained strong deposit growth especially from the retail segment of the market.”

Union Bank Recovers N3.5bn Loans in Six Months

Union Bank of Nigeria Plc has recovered N3.5 billion loans in the first half of 2014, showing a significant improvement compared to the N1.5 billion recovered in the corresponding period of 2013.

Kenya: KBC Boast 16% Increase In H1 Profits

Buoyed by fees and commissions as a result of a 14 per cent increase in customer borrowing to 244 billion Kenyan shillings, the group’s profit before tax stood at 11.7 billion Kenyan shillings in 30 June 2014.

Nigeria's Firstbank Holdco H1 pre-tax drops to 12 pct

Nigeria's First Bank Holding Company said on Thursday its half year to June pre-tax profit fell 12 percent to 48.25 billion naira, compared with 54.81 billion naira recorded in the same period last year.

UBA succumbs to regulatory headwinds as H1 profit down 19.57%

The regulatory headwinds from Central Bank of Nigeria tightening policy combined with induced costs, such as the Asset Management Corporation of Nigeria charge, are taking a toll on the bottom-line performance of UBA Group as first-half profit shrank by 1

Absa Expects Growth To Decelerate To 1.5 Per Cent in 2014

Revenue grew 5 per cent to 21.4 billion rand for the interim reporting period ended 30 June 2014 from 20.3 billion rand in the previous comparative period.

Ecobank Ghana says half year 2014 net profit up 91.2 pct

Ecobank Ghana Limited, the local unit of pan-African bank Ecobank, said on Wednesday its net profit for the six months through to June rose 91.2 percent to 153,947 million cedis ($44.5 million) compared with 80,487 million cedis a year ago.

Nigeria: Banks May Reduce Dividend Payout

In order for Nigerian banks to retain more capital going forward, some will either reduce dividend payout ratios or float rights issues

Kenya's Equity Bank profits up 21 pct on loan growth

Equity, which also has operations in Uganda, Tanzania, Rwanda and South Sudan, said its assets grew to 302.92 billion shillings from 261.58 billion in the first six months of 2013.

Union Bank’s profit declines by 32%

Gross Earnings of the group follwed the same pattern, shedding N6.57 billion or 11.70. Per cent from N56.16 billion posted the prior year’s to N49.59 billion.

Fidelity Bank earns N63.3bn in 6 months

However, the bank reported that its non-interest income declined by 14 per cent to N13.0 billion from N15.1 billion recorded in half year 2013, basically driven by a reduction in foreign exchange earnings.

HSBC Exits Nairobi In Global Restructuring Plan

The apex bank said the market would be informed when HSBC formally closes the office in compliance with all regulatory requirements.

Kenya Women Bank gears up to offload shares to members

KWFT was started as a wholly-owned subsidiary of Kenya Women Holding but over the years, the KWH has been reduced to 55 per cent.

Keystone Bank returns to profitability, grows assets

Ikeazor also noted that the financial institution was also expanding its branch network, with 199 operational, while the 200th is almost at the verge of completion

Kenya's KCB to offer Islamic banking in all its branches

The lender will initially roll out Islamic banking services through seven branch centers, beginning from next month.

UBA records 21.4% profit decline in Q2

The Nigerian Stock Exchange on Friday published the second quarter 2014 result of United Bank for Africa with profit after tax of N11.0 billion

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