UBA Outperforms Banking Sector as Return Hits 173%
Amidst strong stock market rerating of banking shares, the United Bank for Africa (UBA) Plc has spun higher return than any of its peers in the banking sector. Its year-to-date return as investors
Afrinvest Downgrades Fidelity, FBNH, Stanbic Stocks to Sell
Equities analysts at Afrinvest Limited have kept shares of Fidelity Bank, FBNH and Stanbic IBTC on sell recommendation due to weak upside potential, detail from its week stock recommendation shows.
Uncertainties Heighten as CBN Keeps Policy Tools on Autopilot
Uncertainties in the Nigerian economy heighten as the monetary authority suspends its meeting scheduled for November meeting. The apex bank first postponed its bi-monthly meeting in September amidst worsening macroeconomic indicators.
Corpreneurship Challenge: Unity Bank Awards N10m Business Grant to Winners
Retail lender, Unity Bank Plc has extended N10 million business grant to 30 members of the National Youth Service Corps, NYSC, who took part in the 10th edition of the Bank’s flagship Entrepreneurship Development Initiative, known as Corpreneurship Challenge.
Fidelity Bank Asset Quality Declines as Trouble Loans Spike
Fidelity Bank Plc’s rising impaired loans worsened the tier-2 lender asset quality, a detail from its 9-month unaudited financial statement shows. The bank posted about a 163% year-on-year increase in profit following a boost in its loan appetite.
GCR Ratings Downgrades Ecobank Nigeria
GCR Ratings (GCR) has downgraded Ecobank Nigeria Limited’s national scale long issuer rating to BBB-(NG) from BBB (NG) and affirmed the short-term issuer rating of A3(NG); with the Outlook revised to Evolving from Stable.
Providus Bank to Acquire Largest Share in Unity Bank
Providus Bank Limited has moved to acquire majority stake in Unity Bank Plc, as part of the former’s business expansion plan.
FCMB Group Raises N26bn to Boost Bank’s Capital
FCMB Plc has successfully raised N26 billion Tier-1 subordinated capital from the local bond market, according to a regulatory filing submitted to the Nigerian Exchange.
GTBank Wins Best Bank in Nigeria at Euromoney Award
Guaranty Trust Bank Ltd. has been recognised as the” Best Bank in Nigeria” at the Euromoney Awards for Excellence 2023. The bank said in a statement on Monday that the latest recognition
Zenith Bank Market Valuation Crossed N1trn
Breaking the ceiling, Zenith Bank Plc has accelerated above N1 trillion market valuation following the ongoing share buying festival on the floor of the Nigerian Exchange....
