Managers of Wealth Africa

10 Nigerian Banks’ Interest Income Soars By 148% Amid MPR Hikes, Totals N12.24tn In 2024

Access, Zenith, 8 other banks reported a record N12.24 trillion in interest income amid the Central Bank’s policy hikes.

Stanchart strategic alliances geared towards enhancing customer experience

These collaborations have been designed to meet the evolving needs of clients

UBA achieves revenue growth of 83 percent, pays interim dividends in nine months

UBA attributed the increase in interest income to its expanded credit offerings across various sectors.

Vista Bank set to capitalise on Africa’s golden age

The Vista Group’s main objective is to contribute to economic and financial inclusion in Africa through its subsidiaries and branches

Zenith Bank records N1tr profit in third quarter

The growth in the topline was driven by the expansion of both interest income and non-interest income.

Fidelity Bank Grows Profit by 145% to N225 billion

The significant spike in topline performance was spurred by increased income from interest yielding assets and non-interest related revenue.

Wema Bank grows Q3 PBT by 174% to N60.62bn

Our Q3 2024 numbers speaks to our resilience despite a tough operating environment.

FirstBank: Sustaining Seamless, Hitch-free Customer Banking Transaction Experience

The banking transaction architecture of some banks recently encountered some turbulence that resulted from attempts by the banks to effect major system/software upgrades to better serve customers.

Zenith Bank Clinches ‘Bank of the Year’ and ‘Retail Bank of the Year’ at BAFI Awards 2024

Zenith Bank has retained “Bank of the Year” title, affirming its resilient leadership and dedication to Nigeria’s evolving financial landscape.

Nedbank fraud warning for South Africa

In a notice sent to customers on its app, the group said that criminals use several tricks to steal one’s card information.

Reserve Bank pushing hard for new target in South Africa

The central bank aims to anchor inflation expectations around the midpoint of its target range, and recent data has been encouraging.

System migration won’t affect banking services – FirstBank

The bank said that supplier platform update is part of FirstBank’s continuous investments in improving operational efficiencies and service experience.

Alarm bells for middle-class and rich South Africans

This troubling trend underscores the harsh reality that many South Africans, despite earning regular incomes, are struggling to make ends meet.

Forbes names Standard Bank amongst the top 20 World’s Best Employers

The Bank emerged as the highest ranked company from Africa and ranked 2nd in the Banking and Financial Services sector globally.

FirstBank tops in African banking sector ranking

First Bank also made the list of the recent The Banker's top 100 banks

Morocco’s CIH Bank selects Backbase to power its digital transformation

Specifically, CIH Bank expects this integration to streamline its onboarding processes for both local customers and Moroccans living abroad.

Bank of Africa, Absa offer lowest interest rates on loans to households -BoG

The Bank of Africa was the best place to turn for individuals and householders wholooking for loans and hoping to pay back in a year.

Another major retailer in South Africa closing its doors

The CEO said that the group is not planning to sell the operation, and the site will hold clearance sales before shutting down.

Empowering African women: Major financial package unveiled by Absa and the African Development Bank

The R1bn proceeds from this bond will be allocated towards affordable housing loans specifically targeting women, empowering them as first-time homeowners in low-income segments.

11 Banks’ Customers Deposits Cost Up 148% to N3.27tn on MPR Hike

The unprecedented increase has not only set the MPR at its highest level to date, but also reflects the CBN’s determination to address galloping inflation.

Retail Banking