Managers of Wealth Africa

COVID-19 sets the stage for accelerated bank mergers and acquisitions

The higher provisions are set to subdue the sector’s profitability this year on account of the tough business environment.

CBG MD honoured at Ghana Development Awards

At CBG, our brand promise is ‘We Stand With You’ and this is evident in the work of Daniel, hence this award

FirstBank CEO gets Forbes Best of Africa award

The Forbes Best of Africa Award is for business personalities with a record of creating and building great global businesses that have made far-reaching contributions to the development of Africa.

GTBank’s fintech ambitions could lead to a future billion-dollar IPO

It will operate Guaranty Trust Bank East Africa which will house the bank’s operations in Kenya, Rwanda, Uganda and Tanzania.

Despite COVID-19, top Nigerian Banks declare N36.7 billion dividends

profits earned in the first half of the year.

Zenith Bank Secures Afreximbank’s $200m Facility

It would also allow Zenith Bank to on-lend to eligible sub-borrowers involved in the manufacture and supply of medical resources needed to combat the COVID-19 pandemic.

GTBank, Access Bank, 11 others pay workers N271.64 billion in H1 2020

The COVID-19 pandemic did not have any impact on how much the bank workers earned.

S.African bank FirstRand's profits drop 38% after further $915 mln provision

FirstRand says coronavirus has devastated econoomy Porfits drop 38%, mainly due to $915 mln bad debt provision says crisis will weigh on profits

South Africa’s 5 biggest banks compared: earnings vs customers vs market cap vs reach

The data below covers group and South African data, as indicated, taken from each respective bank’s latest full year financial results.

Nedbank CIB walks away with Energy Deal of the Year award

CIB’s involvement in the successful conclusion of the AFC ‘Kimchi’ Syndication transaction also saw it nominated for Deal of the Year in the Debt Finance award category, the company stated.

Banks lose Sh19bn in six months on Covid hurdles

The value of bad loans in the banking sector rose by Sh29.95 billion between March and June alone showing the intensity of economic hardship facing borrowers due to increased layoffs and salary cuts.

Five banks raked in N175.41bn on fees, commission

The breakdown revealed that UBA reported 6.73 per cent increase in fee and commission to N55.87bn from N52.34bn in 2019 while Access Bank reported N51.77bn fee and commission in H12020, up from N41.86bn in 2019.

Fidelity Bank Rolls Out Ghana’s-First Global Payments Innovation For Safer International Payments

This high-valued service will improve our customers’ ability to track cross-border payments or transactions in real-time, with maximum transparency.”

Nigeria's Fidelity Bank to sell up to 50 bln naira bond in Q4

Debt market yields have dropped from a high of 18% three years ago. Yields on the one-year treasury bill are quoted under 5%.

First Bank tops as Nigerian banks record lower E-business income

The FUGAZ generated a sum of N67.3 billion from electronic business during their half-year 2020.

Ghana Assoc. of Bankers Assures Of Stringent Measures To Minimize Fraud

Fraud has become one of the most challenging issues facing the financial sector of most countries globally.

Borrowers default 90pc of Spire Bank loan book

The six-month loss is more than twice the Sh254.7 net loss it booked in the full year of trading in 2019.

Zenith Bank blows past Access Bank as customer deposits cross N4 trillion

First Bank is still the largest Nigerian bank by customer deposits but Zenith Bank is closing in.

Fidelity Bank reports N11bn half-year profit

Net assets grew by 20 per cent to N242bn from the N202bn reported in Q1 2019.

Nigeria’s top seven banks grossed N1.77tr in six months

Total gross earnings within the top seven banking group rose by 7.8 per cent to N1.77 trillion in first half 2020 compared with N1.65 trillion recorded in corresponding period of 2019.

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