Banking News Summary. Local and International Headlines 150519

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Local Headlines

Access Bank, GTBank, Three Others On Africa Banker Awards Nomination List

Nominees for the 2019 African Banker Awards have been announced with Nigeria’s Access Bank, Guaranty Trust Bank, Bank of Industry, Coronation Merchant Bank and Stanbic IBTC among nominees in this year’s awards. Source Daily Independence Read more

Lagos, Transport Institute, Sterling Bank unveil micro-bus empowerment scheme

As part of the social security packages initiative introduced by president Muhammadu Buhari to alleviate poverty and create employment, the Lagos State Government , Institute of Road Transport Workers, IRTW, Sterling Bank Plc,.. Source Vanguard Read more

Infinity Trust Mortgage Bank Plc: Increased interest income underpins profit

Nigerian mortgage and real estate industry  is beset with a myriad of challenges that makes it practically difficult to bridge the 17 million housing deficit.  While the introduction of the Importers’ and Exporters’… Source Business Day Read more

Unity Bank MD won top 25 CEOs award

Mrs. Oluwatosin Shomefun MD/CEO of Unity Bank Plc has won the 5th edition of the Business Day Top 25 CEO and Next Bulls award. The award is one of the structured award by Business Day in conjunction with the NSE. Source Nigerian Banker Read more

Inlaks, Temenos drive digital transformation in Vista Bank Group

Inlaks, an ICT infrastructure and systems integrator in Sub-Saharan Africa has partnered with Temenos, a banking software company to implement the digital transformation strides of Vista Group. Source Business Day Read more

Oil & gas: Standard Bank raises projection for Nigeria, others

The Standard Bank Group has raised its projections for investment in the oil and gas industry in Nigeria and across the Africa continent. “Africa is likely to experience continued oil and gas investment… Source New Telegraph Read more

Fintech Holds Potential To Transform Finance, Capital Markets – World Bank Group

As much as financing for development is critical, Financial Technology (FinTech) has been pointed to as strong potential for many developing countries to transform finance and capital markets. Source Daily Independence Read more

Federal Government domestic debt decreased by 1.16 per cent in 2018CBN

The Central Bank of Nigerian has released its annual activity report recently, the report revealed that the domestic debt reduced from N12.59 trillion in 2017 to N12.44 trillion in 2018 representing a decrease of 1.16 per cent. Source Nigerian Banker Read more

Union Bank releases Sustainability, Innovation Report

Union Bank has announced the release of its third Citizenship, Sustainability and Innovation (CSI) report, an annual compilation which details its strategic focus, initiatives and impact across these three areas during the year. Source Daily Sun Read more

W’Bank’s Study Confirms Marketability of Nigeria’s Flare Gas Plan

The Programme Manager for the Nigeria Gas Flare Commercialisation Programme (NGFCP), Mr. Justice Derefaka, has disclosed that a market analysis carried on the NGFCP by the International Finance Corporation. Source This Day Read more

How microfinance banks should reduce destitution -Martins, CBN Directo

“What exactly are the operators and stakeholders in the microfinance banks (MfBs) sector supposed to be doing? What are they made to achieve?” This is a multimillion Naira question posed by Mrs Tokunbo Martins,… Source Daily Sun Read more

Stanbic IBTC Bank fined N2 billion for violating CBN guidelines, other offences

The management of Stanbic IBTC was fined about N2 billion for violating the guidelines of the Central Bank of Nigeria, CBN, and committing other sundry offences in 2018. Details of the fines are contained in the bank’s financial… Source Premium Time Read more

Alleged forgery: Court revokes ex-banker’s bail

A Lagos High Court sitting in Ikeja has revoked the bail granted to a former banker. Chester Ukandu who is standing trial for alleged forgery and impersonation. Justice Olusola Williams revoked the bail he earlier. Source Vanguard Read more

African Development Bank to support women entrepreneurs with $61.8m

The African Development Bank (AfDB), says Governing Committee of the Women Entrepreneurs Finance Initiative (We-Fi) has approved 61.8 million dollars funding allocation for its Affirmative Finance Action… Source Herald Read more

Central Bank Of Nigeria Has Always Covered Up Monumental Fraud Says Falana

Femi Falana, foremost human rights lawyer and activist has said that the President Muhammadu Buhari led administration is allowing itself to be used in covering N500bn Naira fraud by the governor of the Central… Source Sahara Reporters Read more

29 States, FCT Drawing From World Bank’s $142m Poverty Reduction Grant

Twenty Nine states of the country and the Federal Capital Territory (FCT), Abuja are drawing from a World Bank’s $140 million grant targeted at improving the living conditions of the, ‘poorest of the poor’ in Nigeria. Source Daily Independence Read more

International Headlines

JP Morgan, Comerica, U.S. Bank: Bankers on the move

Some banks named new chief executives in recent weeks, while others laid the groundwork for future successions. At JPMorgan Chase, Chief Financial Officer Marianne Lake was named CEO of the bank’s… Source American Banker Read more

Hong Kong is facilitating big tech‘s banking push

Hong Kong’s Monetary Authority (HKMA) has granted virtual banking licenses to Ping An Insurance’s subsidiary Ping An OneConnect, Ant Financial Services’ unit Ant SME Services, Xiaomi-AMTD Group’s Insight Fintech HK,.. Source Business Insider Read more

Goldman Sachs applies for Tokyo’s banking license
Goldman Sachs is applying for a banking licence in Tokyo as it prepares to launch a global cash management business later this year, several people familiar with the situation told the Financial Times. Source Financial Times Read more

Judo launches as Australia newest challenger bank.

Switzerland-based Temenos AG has announced that Judo Bank, an Australian SME challenger bank, has gone live with the help of Temenos T24 Transact, Analytics, Financial Crime Mitigation and Channels. Source Pymnt.com Read more

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