FCMB Falls after Earnings Forecast, Unusual Volume
FCMB Group Plc’s market valuation bumped last week. The Tier-2 bank recorded a marginal decline in valuation after its earnings forecast triggered an unusual volume of share trading...
Fitch Puts Coronation Merchant Bank on Rating Watch Negative
Coronation Merchant Bank (CMB) has been placed on rating watch negative as a decision to float the naira stokes pressures on its capital after the earnings downturn reported in the...
Banks Record Gains Over Shares Buying Festival
Nigerian deposit money banks (DMBs) listed in the stock market recorded valuations jump on Tuesday after the shares buying festival that greeted Godwin Emefiele’s suspension as
Fitch Affirms Fidelity Bank Ratings With Stable Outlook
Fitch Ratings has affirmed Fidelity Bank Plc’s credit rating at ‘B-‘ with a stable outlook, according to its recent report. The global rating agency also upgraded the bank’s National Short-Term...
Redesigned Naira : CBN to monitor compliance by commercial banks
The Central Bank of Nigeria (CBN) will monitoring commercial banks to ensure that they comply with the directive of loading the redesigned Naira
UK Fines GTBank £7.6m over Money Laundering Controls
United Kingdom (UK) watchdog, Financial Conduct Authority (FCA), has fined Guaranty Trust Bank (UK) Limited £7,671,800 for serious weaknesses
Royal Exchange Names Nwachukwu Chief Executive
Royal Exchange General Insurance Company Ltd. has announced the appointment of Mrs Ebelechukwu Nwachukwu, as the new Managing Director/Chief Executive Officer...
Jaiz Bank Names Sirajo Salisu MD as Hassan Retires
Jaiz Bank has appointed Dr Sirajo Salisu as its Managing Director/Chief Executive Officer, the Company Secretary, Mohammed Shehu, said in a statement in Lagos on Monday.
Nigerian Banks Market Valuations Soften Further
Nigerian banks’ market valuations have dropped significantly, and it appears few of the players have been spared in selloffs in the local bourse. Few gains were driven by small-cap banks in the tier-2 category.
FBN Rating Upgraded after Corporate Governance Irregularities Fix
Following a deliberate effort to reclaim its market position, First Bank of Nigeria (FBN) Limited has been rated higher despite uncertainties in the macroeconomic environment in Nigeria.
