Here is a summary of the major banking news in the last the week
Zenith Bank hosts D’Tigress
Sponsor of the National Women’s Basketball League, Zenith Bank, on Thursday received the victorious AfroBasket champions, D’Tigress, at the company’s headquarters in Lagos. The Group Managing Director of Zenith Bank, Peter Amangbo, congratulated the players and officials for the feat recorded in Bamako, Mali. D’Tigress were glorious at the championship as they won all their matches including two against the defending champions and tournament favourites, Senegal.
Rights Issue: Union Bank gets SEC’s nod to raise N50bn
Following the announcement that it will float an N50 billion Rights Issue in 2017, Union Bank has received approvals from the Securities and Exchange Commission (SEC), to move forward on raising the Tier 1 capital. The lender, in a statement, said it anticipates that the Rights Issue will be open for subscription this September.
Etisalat Loan: 10 Banks’ Provision For Loans Loss Rises By 3%
The involved 10 banks in 9mobile, the mobile operator formerly known as Etisalat Nigeria take over loans loss provision increased by three per cent to N206.1billion in the half year (H1) ended June 30, 2017.
In Australia: Biggest bank woes go global amid new claims
Australia’s biggest bank failed to adequately monitor billions of dollars in global transactions, a report claimed Friday, potentially falling foul of international regulators as it battles similar allegations at home.
Over 40m Nigerians Still Don’t Bank Their Money
Despite the awareness being created by financial institutions on financial inclusion, it has been revealed that over 40 million Nigerians still do not keep their money in the bank. This revelation was made by the Head, Retail Banking Business of Diamond Bank, Robert Giles.
FirstBank has initiated a fund-raising drive among its members of staff as part of the FirstBank Employee Volunteering Scheme, set up to provide humanitarian services to the bank’s host communities, including victims of mudslides and floods that devastated parts of Sierra Leone’s capital, Freetown. The efforts allowed staff members to collectively give succour and hope.
In anticipation of Sallah holiday, the Central Bank of Nigeria (CBN) on Thursday raised the total intervention for the week to 547 million dollars as against 195 million dollars offered the previous week.
The CBN spokesman, Mr Isaac Okorafor in a statement in Abuja, said that the intervention would uplift the Naira exchange rate, boost liquidity in the forex market and ensure timely execution and settlement of eligible transactions.
……Meanwhile, the Naira on Thursday closed at N362 to a dollar as supply by the apex bank improves. This is a far improvement over the N370 it was selling earlier in the week.
Sallah: Bank customers face challenges at ATM centres
Bank customers in some states of the North-East on Friday lamented over insufficient number of Automated Teller Machines (ATM), poor network and slow dispensing of cash by the machines under pressure.
Heritage Bank Plc has disclosed that it is supporting NatnudO Foods, a food processing company in its determination to make poultry affordable and accessible.
The African Development Bank Group is pleased to announce the appointment of Dr. Victor B. Oladokun as the Director for Communication and External Relations with effect from 1st September 2017. Dr. Victor Oladokun is a citizen of Great Britain. He is a highly accomplished communications and media practitioner with more than 25 years of demonstrated expertise in public relations, corporate branding, journalism, broadcasting, strategic communications consulting, leadership development, executive coaching, and as an adjunct professor
First Bank of Nigeria Limited has unveiled new career employment models to accelerate career growth and development for staff members. As part of the FirstBank’s efforts to continuously integrate leadership into its culture and build a pool of talents and next generation leaders who will be groomed to steer the ship of the financial institution’s business expansion and continuous growth in Africa, it has commenced an accelerated career management programme known as the FirstBank Management Associate Programme (FMAP).
The programme would be a 24-month fast track comprehensive developmental programme targeted at young, dynamic, self-motivated and highly driven individuals who possess the right skill set and excellent leadership potential among Junior and entry-level cadre staff.
First Bank of Nigeria Limited has remained committed to empowering the Nigerian populace with the *894# Quick Banking service as part of its financial inclusion drive. The service is set to deliver the power to bank anywhere and at anytime. It is quick, convenient and easy to use and beneficiary accounts are credited instantly with alert notifications.
The Nigeria Football Federation (NFF) and Zenith International Bank on Wednesday in Lagos held a press conference to launch the second edition of the NFF/Zenith Bank U13/U15 Future Eagles Stars Championship.
DIAMOND Bank Plc has reiterated its support for Small and Medium Enterprises, SMEs, in the country, while listing the qualities entrepreneurs must possess to succeed in that terrain.
Speaking at a seminar oganised by the bank in Port-Harcourt, Mark Ifase, Head, Emerging Business, Diamond Bank, noted that new businesses fail due to wrong practice. Ifase said that all hands must be on deck to groom business owners to cut down on the high mortality rate of new businesses. This, he said, prompted the bank to always bring entrepreneurs together for teaching and grooming to reduce casualty syndrome.
United Bank for Africa (UBA) and Guaranty Trust Bank Plc (GTBank), recorded a total drop of N18.97 billion in Electronic Banking revenue in the first six months of 2017, Daily Times finding have revealed. Considering that the two commercial banks’ electronic banking income declared in first the six half (H1) of 2017, showed that United Bank of Africa (UBA) recorded electronic banking income slipped by 45.9 per cent or N8.3bn from N18.1bn in six months of 2016 to N9.78bn in six months of 2017.
As for GTBank, its electronic banking income dipped by 61.4 per cent or N10.6bn to N6.7bn, as against N17.26bn recorded in six months of 2016.
Sterling Bank, MTN Nigeria, BCL, Others for 9jaSAFE Award
Sterling Bank, MTN Nigeria and Business Contracting Limited (BCL) are among the organisations billed to be awarded at the third edition of Nigeria’s independent Occupational Safety, Health and Environment award, Nigeria Safety Award for Excellence Hall of Fame tagged 9jaSAFE Award 2017. The award event is scheduled for September 15, at Oriental Hotel, Lekki.
CBN, Sterling Bank Support 22,000 Farmers In Kebbi With NIRSAL Loan
No fewer than 22,000 farmers in Kebbi State are to benefit from the Central Bank of Nigeria’s Anchor Borrowers programme aimed at increasing the cultivation of rice in Nigeria. The loan anchored under Nigeria Incentive-base Risk Sharing System for Agriculture Lending (NIRSAL) will be disbursed to beneficiaries by Sterling Bank Plc. Speaking during an interactive session with NIRSAL officials in the state, the bank’s Head of New Business Sales, Adewale Adebowale said each beneficiary will get a N250,000 loan.
STERLING Bank Plc has unveiled the Recyclart Competition in a bid to influence how Nigerians dispose of items that could be recycled and change the way they relate to the environment. Chief Marketing Officer of Sterling Bank, Mr. Henry Bassey, who disclosed this in a statement in Lagos, said the Recyclart competition is intended to
be an annual competition that will encourage participants to create a visual representation of the value of recycling waste materials.