Here is the summary of all banking newssome of which you may have missed during the week
1. Skye bank unveils SkyeXperience
Skye Bank in collaboration with Oracle Corporation developed a new digital solution named SkyeXperience. According to the bank management, the solution is a robust platform designed to deliver omni channel user experience across multiple devises as well as boost the banks digital competitive objective which is to grow the bank’s Epayment customers to 2million by 2018.
2. Ghana Central Bank took over two banks
The Bank of Ghana (BoG) announced on Monday that it has revoked the operating license of UTBank and Capital Bank. The statement from the BoG reads “This action has become necessary due to severe impairment of their capital……. The action was to strengthen Ghana banking sector, ensure financial stability and protect depositors funds “. The banks has been handed over to Ghana Commercial Bank (GCB) and the branches of those banks will be opened 1pm same day for normal business activities.
3. Obasanjo urges banks to lower interest rates for farmers
The former Nigerian president at the Niger state investment summit on Monday urges commercial banks in Nigeria to lower their interest rates to enable farmers access loans to improve agricultural production. “The interest rates of banks in Nigeria is one of the obstacle that are affecting our farmers. They are not able to pay banks after taking loan and at the same time still able to run the agric business successfully” the former president said.
4. Unity Bank targets new card holders in new promo
Unity bank will be giving out lots of gift to Verve card holder in its campaign tagged ‘Unity Verve for Verve promo’. The bank hope to reward old and new Verve card holders who uses their card on alternative banking channels.
The star price is a 4 days fun filled all expense paid trip to Ghana for winners in each of the 4 zones while the runner ups in the 4 zones will get 5.0kva generators each and airtime work N100,000 will be given to customers between August and November 30, 2017.
5. GT bank releases half year audited result
GTbank has released its 2017 half year audited reports to the Nigerian and London stock exchange simultaneously. The bank results shows positive growth in most financial parameters. Gross earning increase by 2% to 214b, profit before tax also grew by 18% to 101.1b. Assets and liabilities however dipped by 6% and 1% respectively.
6. First bank promotes over 3000 staff
Firstbank limited promoted over 3000 of its workforce across board in an unprecedented promotion exercise. According to the MD/CEO Adesola Adeduntan “with the 2017 promotion the bank has delivered on its commitment to always reward staff performance and build the capacity of our people as they are our best asset. Our people are also our surest path to achieving our strategic goals of accelerating business performance across all key business indices”. The MD/CEO said.
7. Wema bank opens new branch in Nasarawa
In its effort to tap from the rapidly growing economic hub of Maraba, a sub hub of the federal capital territory (FCT) Wema bank has expanded its operations to Maraba in other to serve the growing market. The bank promised to offer customers the latest banking technology through alternative banking channels and also provides all other banking services including cash and cheque deposit, trade business, loans, cash management and so on.
8. Access bank rewards families in its Family Fortune Promo
A total of 120 families that are customers of access bank were rewarded in the monthly draw of the bank’s promo tagged Family Fortune Promo. 50 customers won DSTV decoders each, 50 won N50,000 shopping vouchers while 20 won a Samsung mobile phone each.
9. Sterling bank get kudos for STEM
Sterling bank get kudos from the senior officials of Lagos State Government for its corporate social responsibility program tagged Sterling Environmental Makeover (STEM). At the Lagos launch of the program which was done simultaneously in eight other different locations across the country. The Chief Executive Officer of the bank, Yemi Adeola, disclosed that STEM is the bank’s corporate social responsibility initiative which promotes sanitation and helps to reduce the impact of human activities on the environment with the aim of making planet earth a clean and safe place for all. He added that the STEM program “covers partnership with waste management agencies in 14 states, planting of trees in Bauchi, Gombe and Plateau to combat desertification and an annual national cleaning exercise”.
10. House of Representatives threatens BOI MD over unanswered audit query.
The Public Accounts Committee of the House of Representatives on Thursday threatened to issue an arrest warrant against the Managing Director of the Bank of Industry, Mr. Olukayode Pitan, over unanswered audit queries by the Office of the Accountant-General of the Federation.
The 2014-2015 audit queries covered spending totalling N11bn, mostly on unrecovered loans by the bank and a second query of N2bn unexplained expenditure. Also over N8bn loans given out have not been recovered and the bank is not doing anything about it according to the query.
11. Federal Government contacted firms to trace TSA funds still in banks.
Mr Alex Adeyemi, Director of Funds, Office of Accountant-General of the Federation (OAGF), mentioned at the conclusion of a two-day media sensitization workshop on reporting TSA, organized by the OAGF. He said Mr. Ahmed Idris, the Accountant-General of the Federation (AGF) gave the approval and reputable accounting firms have been employed to carry out the audit so that all government money still with commercial banks would be discovered.
“They are doing a three-legged reconciliation audit and we are starting from the balances of the Ministries, Departments and Agencies (MDAs) before the presidential directive on the TSA policy. “Then we will look at when the money was moved to the Central Bank of Nigeria (CBN) and how much was moved. We will also look at the accounts after the MDAs had written requesting for their money, then they will audit the balances on the various accounts,’’ he said.