Access Bank Plc and Sterling Bank Plc recently announced that they have respectively received the Central Bank of Nigeria’s Approval-in-Principle to restructure their operations into a holding company (HoldCo) banking model. Both banks disclosed this in separate statements. For Access Bank, which revealed this in a statement posted on the Nigerian Stock Exchange website, which
Nigerian finance lending company, Renmoney says it has launched its mobile experience centres across Lagos recently. The mobile experience centres will accelerates financial inclusion and improve lending to individuals and investment in small and medium enterprises in a more convenient way. The Centres will enable customers to complete end-to-end transactions at their convenience. According to
Access Bank Plc recorded N45.10 billion as Profit Before Tax, for its first quarter ended March 31, 2019, representing 64.4 percent increase compared to N27.44 billion posted in the corresponding quarter in Q1’18. Highlights of the bank’s Q1 financial statement was released on the Nigerian Stock Exchange, NSE, showed that the bank’s earnings rose by
Following the merger between Access Bank Plc and Diamond Bank, one of the global rating agencies, Standard and Poor’s (S&P), recently revealed that it has discontinued its ‘CCC+/C’ long- and short-term issuer credit ratings and its ‘ngBB/ngB’ Nigeria national scale ratings on Diamond Bank. At the same time, it affirmed the ‘B/B’ long- and short-term
The African Export-Import Bank (Afreximbank) has made case for factoring as a viable and sustainable solution to address the challenge of access to financing which is hindering the growth of Africa’s small and medium-scale enterprises (SMEs). The Managing Director of the Intra-African Trade Initiative at Afreximbank, Kanayo Awani, said this recently during a factoring promotion
The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have approved the merger of Access Bank Plc and Diamond Bank Plc, the last major regulatory hurdle for the consummation of the business combination. Both banks recently confirmed receipt of the final approval from the financial services authorities. The final go-ahead came
Access Bank Plc and Diamond Bank Plc are expected to start operating as a single entity from April 1, 2019. This, would be under a new enlarged Access Bank brand. The Managing Director of Access Bank, Herbert Wigwe and his Diamond Bank counterpart, Uzoma Dozie, disclosed this in a joint statement to customers obtained recently.
As Access Bank and Diamond Banks continue with their merger process, the banks have said that customers will be rewarded for their loyalty. A statement said they would be rewarded with loyalty points, cash-back, free websites for SMEs, giveaways among others by carrying out one or more banking transactions or using the banks’ services from
