United Capital Plc, an investment banking group, grew its profit before tax by 12 per cent to N6.22bn in the financial year 2018. Its gross earnings rose by four per cent to N9.26bn in 2018, while profit after tax fell by 0.5 per cent to N4.34bn. The group’s total assets increased by nine per cent
United Bank for Africa Plc has signed a $200 million contract with leading oil Exploration Company, Shell, which will see the bank to provide credit facilities to the oil company’s local vendors and suppliers. Bashir Bello, General Manager, Government and Business Relations, Shell described the partnership as a good development for Shell’s Nigerian suppliers. Bello
Access Bank Plc recently disclosed that it had finalised terms and obtained regulatory approvals for it to raise a fresh $250 million tier II capital. Group Managing Director/Chief Executive Officer, Access Bank, Mr. Herbert Wigwe, who disclosed this during a media briefing in Lagos recently, said the fund would be available for drawdown in January
One of Nigeria’s foremost insurance service companies, a subsidiary of Leadway Assurance Company Limited, Leadway Capital and Trusts Limited, has launched its digital Will writing service for various categories to minimise legacy crises among Nigerians. The company noted that an estate plan was for everybody, who might be single, married, divorced, with or without children,
DHL Global Forwarding, the leading international provider of air, sea and road freight services, has once again been voted Africa’s International Freight Forwarder of the Year for 2019, by readers of STAT Times, an international air freight publication for business decision-makers in the shipping, transport, aviation and tourism sectors. This is the fifth consecutive time
The Republic Bank (Ghana) Limited has met the Bank of Ghana’s new minimum capital requirements ahead of the December 2018 deadline. The BoG, last year announced an increment in the minimum capital requirement of Universal Banks from ¢120 million to ¢400 million. Commercial banks have been given up to December 2018 to meet the new
The Federal Government of Nigeria has reconstituted the Investment and Securities Tribunal (IST) as a practical step towards restoring investors’ confidence in the capital market and repositioning it to contribute positively to the country’s economy. The Investment and Securities Tribunal was dissolved in compliance with the Federal Government’s directive on dissolution of Boards of Parastatals,
The World Economic Forum (WEF) has ranked Nigeria 114th out of 130 economies in the overall ranking of its Global Human Capital Index for 2017. The WEF disclosed this in its Global Human Capital Report 2017 Nigeria was also placed in the bottom 10 in two of the WEF’s pillars – development (122) and Know-how
The Royal Bank (TRB) has revealed it is well positioned to meet the Bank of Ghana’s planned new minimum capital requirement. The bank has indicated plans to explore options such as shareholder and/or new investor financing for the recapitalization bid. According to management, the bank’s financial position has improved significantly with a positive outlook especially
The Bank of Ghana (BoG) has indicated that it is likely to announce a new minimum capital requirement for banks by September. According to the regulator, it is almost through with the required engagement with all the players in the banking industry to possibly aid the announcement. The Central Bank had earlier indicated that it
