After initial denial, Access Bank Plc and Diamond Bank Plc have confirmed talks to merge the two banks. The deal will be fully sealed by the first quarter of 2019. Under the arrangement, Access Bank has been declared as the preferred bidder for Diamond Bank,…
Default rates for corporate loans went down in the fourth quarter of this year and is also expected to improve in the next quarter, the latest Credit Condition Survey report from the Central Bank of Nigeria (CBN) has shown. In its fourth Quarter 2018 Credit Condition…
Following the development of the Global Principles for Responsible Banking (GPRB) by Access Bank, 27 other global banks and other financial institutions have now become early endorsers of the principles. The banks include Caixa Bank, Corporación Financiera…
Access Bank which announced the acquisition of Diamond Bank to create Nigeria’s largest banking institution will launch a subordinated rights issue of about $200m to keep its capital well above regulatory requirements, bankers working on the deal told the…
Banks and financial technology companies have been urged to invest in innovative solutions in combating cybercrimes. The charge was given at a breakfast meeting organised by Best of Breed Business Solutions Limited (BBBS) in conjunction with its…
The Board of Nova Merchant Bank has confirmed the appointment of Anya Duroha as the substantive Managing Director/Chief Executive Officer. The board’s confirmation made at its meeting of Thursday, December 6, is subject to the approval of the Central Bank of…
The Federal Government has failed to constitute the governing boards of the Federal Inland Revenue Service (FIRS) and the Nigerian Deposit Insurance Corporation (NDIC) since their dissolution in 2015. Daily Trust, however, learnt from sources that the…
Following the announcement of the acquisition of Diamond Bank Plc by Access Bank Plc yesterday investors have swooped on the shares of both banks pushing them to the top of the Nigerian Stock Exchange, NSE, top gainers and volume transaction chart at close…
Diamond Bank Plc’s acquisition by Access Bank Plc is official. Yesterday’s confirmation of the deal has reinforced the story exclusively reported by The Nation on November 12. Diamond Bank’s Chief Executive Officer Uzoma Dozie announced that the bank’s board
With the confirmation by Access Bank and Diamond Bank that the acquisition deal has been concluded, financial analysts have called for caution to avoid the pitfall of Skye Bank which bought Mainstreet Bank in 2014. Diamond Bank, in a statement signed by the….
The federal government has not concluded its negotiation of a $2.5 billion loan expected from the World Bank in support of the implementation of its Power Sector Recovery Programme (PSRP), the Minister of Power, Works and Housing, Mr. Babatunde Fashola,…
The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has called on Nigerians living abroad who wish to send money to their loved ones in the country particularly this yuletide season to do so through the Bank’s Rapidtransfer app. Ecobank charges zero fees..
Access Bank Plc is growing fast; swallowing one bank at a time to achieve an old ambition that came closer with the acquisition of Diamond bank. Access Bank’s rise started with its acquisition of a bigger bank in the shape of Intercontinental Bank in 2012, and has…
President Muhammadu Buhari has directed the immediate provision of working capital to members of the nation’s entertainment industry by the Bank of Industry and the Nigeria Export–Import Bank. The president stated this when he received…
The Federal Government has commenced negotiation with the African Development Bank AfDB, the World Bank and other financial institutions with a view to raising over N800 million to fund the construction of affordable housing for Nigerians….
A former Chairman of the defunct Skye Bank, now Polaris Bank, Dr. Tunde Ayeni and a former Managing Director of the bank, Timothy Oguntayo, were arraigned on Monday before Justice Nnamdi Dimgba of the Federal High Court sitting in Abuja. However,…
