Brand & Business

Union Bank Reports 20% Growth In PBT H1, 2024, Despite CBN’s Intervention

By Bunmi Onakan  Despite the challenging environment following the Central Bank of Nigeria’s intervention in January 2024, which led to heightened customer concerns, Union Bank of Nigeria has reported a profit before tax of N79.8 billion on gross earnings of N333 billion during the half year ended June 30, 2024 compared with a profit before tax of N66.5 billion on gross earnings of N210.5 billion… []

American Express Partners Flutterwave On Credit Card

— Flutterwave logo (File) By St. Johnson Adegboyega  American Express is expanding its African play with a new partnership with Flutterwave. The credit card company has been seeking ways to make inroads into Africa, where cash is still king. On Tuesday, Flutterwave, a leading payments technology company, announced that its online merchants in Nigeria can now accept American Express payments, expanding the card’s reach. This… []

Hydrogen Launches ‘Healthy Heart, Healthy Business’ Initiative to Promote Heart Health Among Business Owners

— Hydrogen Payment Services Team By St. Johnson Adegboyega Hydrogen Payment Services Company Limited (Hydrogen), a leading payment services company, is excited to announce the commencement of its “Healthy Heart, Healthy Business” initiative, beginning on 30th July 2024. This significant initiative highlights Hydrogen’s commitment to promoting heart health awareness among business owners and professionals, focusing on the importance of managing high blood pressure (BP) and… []

ACCESS HOLDINGS PLC EXTENDS RIGHTS ISSUE ACCEPTANCE PERIOD TO AUGUST 23, 2024

  — File photo of Access Holdings  By St. Johnson Adegboyega  Access Holdings Plc (“the Group”) has announced an extension of the acceptance period for its ongoing Rights Issue. Initially set to close on August 14, 2024, the period has now been extended to August 23, 2024, following the approval of the Securities & Exchange Commission (SEC). The statement, signed by the Group’s Company Secretary,… []

Fidelity Bank’s Consistent Strong Growth Excites Investors

— Fidelity Bank Logo (File) By St. Johnson Adegboyega  Fidelity Bank Plc has recorded an average annual profit growth of 64 per cent over the past three years, underlining its resilience as one of Nigeria’s fastest growing companies. The bank has also seen rapid expansion in customer base and assets as total balance sheet size leapt from N2.1 trillion to N6.2 trillion, the sixth largest… []

Access Bank Joins NGX To Launch Impact Board

— Gregory Jobome, Executive Director, Risk Management, Access Bank Plc in conversation with Balarabe Abbas Lawal, Minister of Environment at the launch of the NGX Impact Board at the Nigerian Exchange recently.   By St. Johnson Adegboyega Access Bank Plc, Nigeria’s leading institution in sustainable finance, was one of the participants in the launch of the Nigerian Exchange Limited (NGX) Impact Board, a dedicated platform… []

Transcorp Group CEO, Owen Omogiafo Named LBSAA President

— Owen Omogiafo  By St. Johnson Adegboyega The Lagos Business School Alumni Association has appointed the Group Chief Executive Officer of Transcorp, Owen Omogiafo, as its president, Omogiafo emerged as LBSAA president at the association governing council meeting, election & handover were held recently in Lagos and Valentine Okelu and Misan Eribo were also elected vice president and secretary, respectively. Omogiafo succeeded Mr Agada Apochi,… []

Sterling One Foundation Announces Afreximbank as Strategic Partner for Africa Social Impact Summit 2024

— Sterling One Foundation (File) By Bunmi Onakan To foster more private sector participation in the drive towards the achievement of the Sustainable Development Goals (SDGs) in Africa, the Sterling One Foundation has announced African Export-Import Bank (Afreximbank) as its strategic partner in hosting the third edition of the Africa Social Impact Summit (ASIS) to be held from July 25 -26, 2024 in Lagos, Nigeria…. []

Fidelity Bank Eyes Oversubscription To N127.1 billion Combined Offers

— File photo of Fidelity Bank  By Adeola Idris  Against the background of groundswell of supports and enthusiasm for the bank’s ongoing offers, Fidelity Bank Plc has started preparations to allow the bank absorb oversubscriptions. With investors rallying behind the bank’s N127.1 billion combined rights and public offer, market pundits had indicated that the bank would raise more than initial size of the combined offer…. []

Liquidation: NDIC, Law Enforcement Agencies To Investigate Heritage Bank Executives

— File photo of the defunct Heritage Bank  By Adeola Idris  Following the ultimate and timely collapse that recently befell the now-defunct Heritage Bank, the Nigeria Deposit Insurance Corporation (NDIC), in collaboration with law enforcement agencies, is set to investigate the directors, managers, and staff of the bank. The announcement comes over a month after the bank’s liquidation. Bello Hassan, NDIC managing director represented by… []

Access Bank PLC Consolidates Operations in East Africa, Completes Acquisition of BancABC Tanzania

— Roosevelt Ogbonna, Access Bank’s Managing Director/Chief Executive Officer By St. Johnson Adegboyega    Access Bank PLC (“the Bank”) has announced the successful completion of its acquisition of African Banking Corporation (Tanzania) Limited (“BancABC Tanzania” or “BancABC”), in line with its strategic expansion goals. This milestone follows the Bank’s initial announcement in July 2023 and marks yet another step in its journey to become the… []

Fidelity Bank leads trading as equities gain N324b

By St. Johnson Adegboyega Fidelity Bank Plc was the most active stock on Monday, 10 June 2024 at the Nigerian stock market as a strong positive sentiment led Nigerian equities to a net capital gain of N324 billion in the first trading session of the week. The market opened with widespread positive sentiment as investors sought to lock into value stocks in the high-end sectors… []

Banks, Experts, Others Explore Customer Service Experience at 3rd ACAMB Stakeholders Conference

— (File) ACAMB Logo By Adeola Idris  The Association of Corporate Affairs Managers of Banks (ACAMB) is pleased to announce its third National Stakeholders’ Conference with the theme: Building Bridges: Collaborative Solutions for a Trusted Banking and Financial Services Experience. The conference, where end-to-end customer service issues in Banks and other financial institutions will be explored by top-tier select Speakers and subject experts’ panel, is… []

Fidelity Bank Distributes Food Packs to Families in Keffi

— Fidelity Bank Logo By Adeola Idris  Leading financial institution -Fidelity Bank PLC -has distributed food packs to women, widows, children, and the vulnerable in Keffi, Nasarawa State as part of its Corporate Social Responsibility (CSR) activities. Addressing newsmen in Keffi, Nasarawa state during the distribution event tagged, “Fidelity Food Bank Initiative”, which was carried out in partnership with ABBASID Charity Foundation, the Divisional Head,… []

Analysts Place “buy” On Fidelity Bank

— Nneka Onyeali-Ikpe, Managing Director, Fidelity Bank Plc By Adeola Idris  Highly-rated, independent investment advisory firms have picked Fidelity Bank as a very attractive stock with potential to generate high returns for investors. Independent investment research reports by many market pundits reviewed at the weekend showed that Fidelity Bank was assigned “buy” ticker, a recommendation to investors to consider the potential attractive returns of the… []

Zenith Bank’s Landmark N125.59bn Dividend Payout Excites Shareholders

— Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR (Centre) flanked by the Group Managing Director/Chief Executive, Dr. Ebenezer Onyeagwu (Left) and the Deputy Managing Director, Dame (Dr.) Adaora Umeoji, OON (Right) during the 33rd Annual General Meeting (AGM) of the bank held at The Civic Centre, Victoria Island, Lagos. Shareholders of Zenith Bank Plc, at the 33rd Annual General Meeting (AGM) held at the Civic… []

AltBank Walks Against Hunger and Advocates for Education.

– Alternative Bank logo By Bunmi Onakan The Alternative Bank Limited (AltBank) has announced a strategic collaboration with FoodBank and Sterling One Foundation to raise approximately N20 million in support of hunger alleviation and educational initiatives. This initiative aligns with the theme of the African Union Summit 2024, “Educate and Skill Africa for the 21st Century.” Hassan Yusuf, the Managing Director of The Alternative Bank,… []

Mastercard Partners With Mono To Boost Nigerian Startup In Direct Bank Payment

— Mastercard logo (File) By St. Johnson Adegboyega  Mastercard, the second-largest payment network in the world, has partnered with Mono, a Nigerian YC-backed open banking startup, to enable payments directly into bank accounts without cards or USSD codes. For Mono, this partnership is another leap forward in its race to profitability. “In 2023, we moved from negative to positive gross profit, and we want to be profitable… []

Maltina Shares Happiness with Special Iftar Soiree for Ramadan

– Muslim faithfuls at the event  By Bunmi Onakan  In line with its ‘Show Kindness, Share Happiness’ Ramadan campaign, Maltina, Nigeria’s leading malt drink brand, has again demonstrated its commitment to sharing happiness with consumers. The brand hosted a select group of Muslim faithfuls to a special Maltina Iftar soiree on 31 March 2024. The Iftar soiree embodied the true spirit of Ramadan, encouraging a… []

Transcorp Group Demonstrates Robust Growth in FY 2023; Revenue Increases By 47.3%, PBT by 93.5%

— Transcorp Corporation Plc logo Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading listed conglomerate, announces its financial results for the year ended December 31, 2023. The Group achieved substantial growth in its financial indicators, reinforcing its market leadership and strategic positioning. —  Dr. (Mrs) Owen D. Omogiafo, President/Group Chief Executive Officer of Transcorp In its audited results, Transcorp reported significant year-on-year growth, with… []