Here is the summary of the major banking news during the week. Some of which you may have missed.
Keystone Bank launches new service number
Keystone Bank Limited has introduced a new SMART number for customer support, the lender said in a statement yesterday. The bank in a statement said the new service number, which was launched earlier this month is In line with its goal to provide quality service to all its customers. The lender added that the smart number eliminates the need for customers to remember multiple numbers while removing the uncertainty as to which of the lines are actively engaged.
Nigeria demands reform of IMF, World Bank
Nigeria has demanded the reform of the Bretton Wood Institutions to make them responsive to the needs of developing countries and also reflect the realities of the 21st century. The Minister of Foreign Affairs, Geoffrey Onyeama, stated this at the 41st Ministerial Meeting of the Group of 77 plus China (G77+China) on the sidelines of the United Nations General Assembly.
GTBank Fashion Weekend Set to Showcase “Africa’s Finest” This November
Fashion lovers are in for another scintillating fashion experience as the second edition of the GTBank Fashion weekend set to hold on the 11th and 12th of November, 2017. The 2-day event will showcase variety of Africa’s finest styles and trends.
Amosun hails GTBank over Principals’ Cup
Ogun State Governor Ibikunle Amosun has commended GTBank for its contribution to sports development in the state. Amosun, who spoke at the finals of the GTBank/Ogun State Principals’ Cup season five at the MKO Abiola Stadium, Abeokuta, on Thursday, said there was no way talents could be discovered without such a competition among schools.
Banks’ operating expenses soars to N244.43 billion in six months
Aggregate spending on staff by Nigeria’s largest banks in the first six months of 2017 hit N244.43 billion, 3 percent rise from the same period of last year. The 13 banks had total staff strength of 46,250 as at December 2016, resulting in an average cost per staff of N5.28 million.
Afreximbank admits Comoros, as Chad, S’ Sudan conclude ratification
The continental multilateral trade finance institution, Afreximbank has continued to expand its reach across the African continent, with the latest admission of Comoros Island as a participating state. A statement by the bank, and made available to The Daily Times Nigeria, disclosed that Comoros activated its membership as Afreximbank’s 46th participating state on 12 September.
N1.2bn NEXIM Bank fraud: EFCC launches fresh probe of Sen Nwaoboshi
The Economic and Financial Crimes Commission, EFCC, is to launch a fresh probe against Senator Peter Nwaoboshi, over his alleged involvement in the diversion of about N1.2Bn facility loan granted to him in 2014 by NEXIM Bank under the Local Industrial Growth Scheme.
Ecobank Introduces Cardless Cash Withdrawal Service
Ecobank said it is striving to address the needs of the unbanked (and the general populace) by transforming a mobile phone into an all-in-one bank account and payment/cash withdrawal tool. One such example, according to a statement from the bank, is its innovative ‘Xpress Cash’ functionality, which has been introduced as part of its upgrade mobile banking app.
FirstBank Customer Wins in Western Union Promo
FirstBank of Nigeria Limited has announced that its customer has won the grand prize of the just concluded Western Union Mega Promo which took place recently. The customer – Gabriel Osikoya – was presented with one of the brand new Hyundai cars offered as grand prize by Western Union last Friday.
FirstBank gears up to achieve customer growth target
F irst Bank Nigeria Limited is stepping up efforts to ensure that it meets its growth target of 30million customers over the next three years, the lender has said. Managing Director/Chief Executive, FirstBank Limited, Dr. Adesola Adedutan, had announced last May that the Tier 1 lender had begun implementing a three year strategy that would result in its increasing its customer base to 30million. He said: “The strategy is focused on significantly growing our customer base. We plan on having minimum of 30 million customer account over the three years.
Union Bank unveils 14 upgraded branches
Union Bank of Nigeria Plc says it has unveiled 14 newly upgraded branches across the country. The upgraded branches, which are spread across seven states of the nation including Enugu, Oyo, Kaduna, Kogi, Delta, Benue, Lagos and Abuja, were unveiled at ceremonies attended by the bank’s customers, stakeholders and local community leaders.
Union Bank opens N50b rights issue
Union Bank of Nigeria (UBN) Plc yesterday opened application list for its N50 billion rights issue, paving the way for shareholders to pick up their rights. Application list for the rights issue will close on Monday October 30, 2017. Union Bank is raising N49.745 billion from existing shareholders through a rights issue of 12.133 billion.
Fidelity bank give N110 million customers get alert millions promo reloaded
Top Nigerian lender, Fidelity Bank Plc is set to delight the banking public with the introduction of a fresh Savings promo that promises to provide new and existing customers with the unique opportunity to win fantastic cash prizes within a specific period. The promo dubbed ‘Get Alert In Millions Promo Reloaded’ is in line with CBN Financial Inclusion Policy.
Diamond Bank grows cashless transactions to 89%
Stanley Opara Despite the country’s current challenge in driving the ‘cashless’ mentality in the financial services sector, the Chief Executive Officer, Diamond Bank Plc, Mr. Uzoma Dozie, says 89 per cent of the bank’s transactions are now cashless. In Nigeria, however, 80 per cent of payments are still made in cash.
Jaiz Bank: Balancing the Business and The Market
Pioneering Islamic banking in Nigeria has been one heck of a task for Jaiz Bank, recording successes with the business even if its stock is underperforming the market. The bank’s books for the last half year and the stock performance in as long a time tell the story of the Sukuk promoter and Hassan Usman-led bank.
CBN raises N216bn in oversubscribed Treasury bills
The Central Bank of Nigeria (CBN) on Wednesday raised N215.88 billion at the treasury bill auction, N75 billion more than originally planned, after it received subscriptions for almost four times the amount of debt initially on offer.
CBN Threatens Banks Without Forex Sales Point
CBNLagos – The Central Bank of Nigeria (CBN) on Monday threatened to sanction any deposit money bank (DMB) in breach of its earlier directive of March 3, 2017, instructing them to, among other things, open teller points for retail forex transactions and to have electronic display boards in all their branches, showing rates of all trading.
Equities lose N46b as investors await CBN’s decisions
Nigerian equities started this week on a downtrend as investors await the decisions of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), which is scheduled to meet next week. Most price changes ended on the negative while volume of activities hovered around average at the Nigerian Stock Exchange (NSE).