Diamond Bank plc, has posted an impressive performance scorecard. Assuring its stakeholders of its ability to sustain growth in all parameters, the financial institution increased its gross revenue from N96.8 billion in the half year of 2014 to N103.0 billion as at end of June 2015. Uzoma Dozie, group-managing director of the bank, attributes the…
Sterling Bank Stable, Gets Moody’s B2 Rating
Moody’s Investors Service, a leading global rating agency, has assigned first-time local and foreign currency issuer and deposit ratings of B2 with stable outlooks to Sterling Bank Plc, including a Counterparty Risk Assessment, CRA, of B1 (cr)/Not Prime (cr). A statement by the Agency stated that the ratings are underpinned by a b3 baseline credit…
Gratuities: Court Strikes Out Former Fidelity Bank Staff Suit
Justice James Agbadu-Fishim of the National Industrial Court, NIC, Lagos, has dismissed the case of unpaid gratuity and allowance involving Fidelity Bank Plc and Andrew Awoyemi, a former staff of the bank. While striking out the case at Court 1 of NIC,Ikoyi on Friday, Agbadu-Fishim held that both the claim and counterclaims lack merit. In…
CIBN Wins 22nd WCBI Hosting Right
The Chartered Institute of Bankers of Nigeria has won the right to host the 22nd World Conference of Banking Institutes, WCBI, which will take place in 2017. The biennial conference for all the banking institutes across the globe commenced in Edinburgh Scotland, in 1975, as part of activities to commemorate the Centenary celebrations of the…
CBN, Banks to Bar Bad Debtors from Purchasing Forex
The Central Bank of Nigeria, CBN, and banks, under the aegis of the Bankers Committee have decided to bar bad debtors from purchasing foreign exchange in the inter bank foreign exchange market. Committee which comprises of the top management of CBN, Nigeria Deposit Insurance Corporation, NDIC, and chief executives of banks took the decision on…
Former Fidelity Bank Staff Remanded Over N25m Fraud
Friday Yahaya, a former staff of Fidelity Bank Plc has been remanded in Ikoyi prisons, Lagos, for allegedly converting the sum of N25,350,000 belonging to the bank’s depositors to his personal use. The former marketing staff of the Bank at Balogun Business Association branch, Trade Fair Complex, Lagos State was arraigned before Justice Lawal Akapo…
BOI Partners Banks to Offer Lifelines to SMEs
Operators in the Small and Medium scale Enterprises, SMEs, sector can now heave a sigh of relief. They would soon receive a major boost as the Bank of Industry, BOI, partners 10 banks to provide funds to tackle their increasing challenges. The financial institutions are Access Bank Plc, Diamond Bank Plc, Ecobank Nigeria Limited, Fidelity…
Row over Access Bank Offer
The Securities and Exchange Commission launches an investigation into the technical suspension imposed by the Nigerian Stock Exchange on Access Bank shares, amidst reactions by stakeholders The confusion generated by the actions of the Securities and Exchange Commission, SEC, and the Nigerian Stock Exchange, NSE, over the shares of Access Bank may take a toll…
Expanding the Business Frontiers
Access Bank excites customers and shareholders with a N64 billion rights issue The lingering demand for upgrade of its branch network by its customers may soon be over. The customers’ hope was rekindled by the management of Access Bank last week when they were informed that the bank would soon embark on massive branch network…
QNB Acquires Stakes in Ecobank
Qatar National Bank, QNB, in support of its 2017 international expansion and growth ambition has acquired 12.5 percent stake in Ecobank Transnational Incorporated. This was contained in a statement issued by the bank in Doha, Qatar on September 4, which stated, “QNB, One of the World’s Strongest Banks has announced the acquisition of a 12.5%stake,…
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