Other Business
Diamond Bank Plc has announced the launch of its mobile website to the general public as part of its innovativeness and thirst for optimizing quality customer service delivery at all times.
With this feat, Diamond Bank becomes the first Nigerian bank to deploy a mobile website.
According to a statement signed by Charles Udoh, head Corporate Communications, the bank said the
Confidence have started returning to Oceanic Bank International Plc as its equity led the recovery of bank stocks on the Nigerian Stock Exchange (NSE) in the first week of trading in 2010.
Analysis of the banking sub sector shows that by the close of trading in the first week of 2010, the share price of Oceanic Bank has appreciated by 26.04 per cent, the highest in the sub sector.
Afribank Nigeria Plc has boosted its revenue collections nationwide for both private and public institutions by leveraging on its simplified service processing and robust banking information technology.
The bank’s monthly rating has also improved across performance based criteria in the collection of revenue for state governments.
Alpha-Beta Consulting has attested to Afribank’s
The Central Bank of Nigeria (CBN) has stated as untrue reports making round about the CBN directing banks to disengage their staff.
In a statement signed by the deputy director, Corporate Affairs Department, the apex bank said "The Central Bank of Nigeria has noted with dismay, several untrue reports in the media alleging that the CBN ordered the mass sack of Deposit Money Banks' staff
Mahmoud Lai Alabi, managing director, Intercontinental Bank Plc has said the need to perfect its transformation project and preserve value for shareholders informed the recent staff rationalisation in which 1,346 staff of the bank were laid off.
In his reaction to the massive layoffs in banks and the outcry by the organised labour, he disclosed in a statement that the bank’s action was
The management of Union Bank of Nigeria Plc has approved the recruitment of another 150 graduate intakes to reinvigorate the bank’s workforce.
The newly employed staff which include about 70 of the bank’s current temporary/outsourced staff, were selected after rigorous recruitment procedures and will undergo five weeks induction programme at different locations across the country namely
A change of baton has taken place in Nigeria’s premier financial institution, First Bank of Nigeria Plc, as Dr. Oba Otudeko, an erstwhile non-executive director, was elected on Tuesday by the bank’s Board of Directors to take over from Alhaji (Dr.) Umaru Mutallab as chairman.
Otudeko’s appointment, which is still subject to formal approval by the regulatory bodies, comes in the wake of
Wema Bank Plc has released its financial statement of the last two years, which the bank said was a reflection of the challenging period it faced.
The statement showed that although gross earnings increased by 82 per cent to N23.683 billion, the increase was not reflected in the net result because of additional provisions of N36 billion.
The bank said the release of these results
The Nigerian Economic Summit Group (NESG) has expressed the group’s supports for the ongoing reforms in the banking sector.
Speaking in Abuja at the 15th National Economic Summit (NES 15), Frank Nweke (Jnr), director general, NESG endorsed reforms going on in other areas including health and education and also justified the continuous staging of the summit in the last 15 years.
He
African Development Bank (AfDB) and the United Bank for Africa Plc (UBA) has signed a two- loan agreement for a total of USD 150 million.
Aloysius Uche Ordu, vice president, Regional and Country Programs and Policy from the African Development Bank (AfDB) and Faith Tuedor-Matthews, deputy managing director, from the United Bank for Africa Plc (UBA) signed the agreement on behalf of
Oceanic International Bank Plc has rolled out new products to the market to satisfy the yearnings of its customers.
The bank said in a statement that the new retail products are tailored to meet the needs of every customer.
The products are: Easy Savings; Silver Savings and Silver Current; Gold Savings and Gold Current; Platinum Savings and Platinum Current. The products, said the
Union Bank United Kingdom (UK) Plc, an international subsidiary of Union Bank of Nigeria Plc has assured its esteemed customers in Nigeria that it was poised to add more value to their businesses.
The bank’s financial score-sheet indicates sustainable growth, recording overall profit before taxation of US$3.09million for the financial year ended March 31, 2009, while profit after
The on-going Fidelity Bank’s Save and Smile Promo has produced 15 new millionaires from various regions of the country are now proud millionaires in.
The new winners of the promo now in its third month collectively bring the number of millionaires in the promo to 45, leaving 55 more millionaires to emerge.
The winners who emerged from a recent draw in Abuja include Odofin Monday
The management of Intercontinental Bank Plc contrary to reports making rounds in a section of the media last week that the spurious transfer of N12 billion linked to Dr Erastus Akingbola, the former Group Chief Executive was done after the Central Bank of Nigeria (CBN) intervention on August 14, 2009, has affirmed that the transactions actually took place before the apex bank’s intervention.
Mallam Sanusi Lamido Sanusi, governor of Central Bank of Nigeria (CBN), has said that the apex bank opted to bail out the eight distressed banks instead of outright liquidation so as to prevent a systemic crisis which liquidation would have generated within the entire economy.
Sanusi, spoke at the 2009 National Seminar on banking and allied matters which theme was “Strengthening the
In its response to unfolding industry challenges and to re-establish the bank as a leading financial services institution in Nigeria, the new management of Intercontinental Bank has announced a three-phase reposition plan tagged ‘Project Transformation’.
Mohmoud Lai Alabi, chief executive of the bank said at a press conference, that the bank had made impressive progress since the new
Mr. John Aboh the managing director/Chief Executive Officer of Oceanic Bank International Plc, has emphasized on the role of public private partnerships (PPPs) as a strategic vehicle for effective management of healthcare wastes.
He called for greater allocation of human and financial resources for a more effective and better management of health care waste in the country.
Aboh's
Union Bank of Nigeria Plc has doled out over N16million and attractive prizes, including nine brand new Toyota Corolla cars and 60 motor-cycles, to redeem its promises to savers under its on-going savings bonanza.
The savings bonanza, which began in April this year and is slated to end in January 2010, has witnessed four draws in different towns across the country to select lucky winners
Fidelity Bank Plc has opened four new branch offices in the Lagos metropolis to bring the bank’s total branch network strength to 150, nationwide within a space of one week.
The new Lagos branches are located in Ojota, Egbeda, Alagbado and FESTAC Town in a deliberate effort to meet the growing demand for the bank’s robust services and attractive bouquet of products.
Fidelity Bank
In furtherance of First City Monument Bank Plc (FCMB) continued commitment to supporting customers in growing their businesses and equipping them with the right skills required to be successful business leaders, the bank in partnership with LEAP (a non-governmental organization) has commenced a business leadership training programme for the its SME customers across the country.
The
Skye Bank Plc and the British Council have gone into partnership in the area of human capital and manpower development with the objective of developing the skills and competences needed for nation building and economic empowerment.
Under the partnership, Skye Bank will support the British Council's Management Express programme, a quarterly human capital development and networking event
Union Bank of Nigeria PLC has announced gross earnings of N147.32 billion for the financial year ended March 31, 2009, representing an increase of 30 per cent over last year’s figure of N112.99 billion.
Gross earnings for the bank increased by 40 per cent from N92.94 billion in the preceding year to N130.19 billion during the period under review.
The group’s total assets grew from
Two Diamond Bank customers have emerged winners of “Salary 4Life” Star Prize in the Diamond Savingsxtra Season 2 reward draw for November which took place in Lagos.
Jude Onyebuchi Duru, a customer from the bank’s Idumota, Lagos Island branch, and Sunday Christian Ntiele of Grace Road, Eket branch, Akwa-Ibom state, emerged the two latest “Salary 4 Life” star prizes winners which entitles
The Central Bank of Nigeria (CBN) has injected N65.5 billion into the economy through the sale of Federal Government bonds.
The Federal Government securities sold were in 3-year, 5-year and 10-year bonds and were sold at the government securities trading floor of the CBN.
The bid rates for the entire bonds varied between 5.40 per cent and 12.25 per cent, while the issue rates stood
Guaranty Trust Bank is set to reward its SKS (Smart Kids Save) account holders in its Annual SKS Raffle Draw.
Current SKS account holders will have an opportunity to win variety of prizes on offer including scholarships, laptops and numerous consolation prizes during the raffle draw.
Jide Ogundare, executive director and head of retail division, Guaranty Trust Bank while speaking
Skye Bank Plc has entered into a sponsorship deal with the British Broadcasting Corporation (BBC) for the broadcast of “Africa Business Report”.
The programme which will be aired everyday at 1.30pm on the BBC is intended to showcase the economic potentials and developments on the African continent to the rest of the world and correct the negative reporting of Africa in the international
The Federal Mortgage Bank of Nigeria (FMBN) is planning to grow its investment volume to about N1.1 trillion, making it one of the biggest banks in the country.
Abdulsalam Ahmed, managing director/Chief Executive of the bank said that the move was part of the bank’s on-going re-branding exercise.
He said the bank is expecting investments from Chinese and other international bodies
The Central Bank of Nigeria (CBN) has appointed advisers that will work with the eight troubled deposit money banks to ensure the stability and soundness of the banking industry.
The banks, whose managing directors and executive directors were recently removed, also includes Wema Bank and Unity Bank Plc, that were given up to June 2010 to recapitalize. The advisers are Deutsche Bank,
The Central Bank of Nigeria is set to increase money in circulation with the sum of N500 billion to stimulate credit facilities by the commercial banks.
The Bankers Committee said the proposed Assets Management Company (AMC) will be floated with a capital base of N250 billion, which will be contributed by the CBN and the Federal Ministry of Finance in the ratio of 60 and 40 percent.
Fidelity Bank Plc has acquired Creditquest, a credit risk and portfolio management software in its drive to install optimum-functionality and cutting edge risk management systems.
Sunday Ebong, head, Corporate Affairs of the bank in a statement, said, this followed the bank's rigorous evaluation of all existing Credit Risk Software in the market.
Creditquest is a credit risk