• Bayo Adetu
• June 10, 2024
• BUSINESS
• 0 Comments

Fitch Ratings has revised the outlook on Fidelity Bank PLC’s LongTerm Issuer Default Rating (IDR) to Positive from Stable, while affirming the rating at ‘B-‘. The credit rating agency has also affirmed Fidelity Bank’s National Long-Term Rating at ‘A(nga)’ with a Stable Outlook. In a statement released on Friday, Fitch said that the outlook revision reflects its, “expectations that the …

• Bayo Adetu
• June 10, 2024
• BUSINESS
• 0 Comments

Businessmen in Kano have commended Optiva Capital Partners; a premier wealth management company for its innovative products and services in investment immigration and international real estate. This commendation came during an exclusive business dinner organized by Optiva Capital aimed at showcasing global investment opportunities for Kano business Community during the weekend. Speaking at the event, which held at Amiingo Hotel …

• Bayo Adetu
• June 7, 2024
• BUSINESS
• 0 Comments

Nigeria’s premier financial institution and financial inclusion services provider has bagged two awards: Best SME Bank in Africa and Best SME Bank in Nigeria at the highly converted Asian Banker Global Excellence Retail Awards 2024. The Excellence in Retail Finance Awards Programme, which includes the Global Excellence in Retail Finance Awards and The Annual Digital Bank Awards, is one of …

• Bayo Adetu
• June 7, 2024
• BUSINESS
• 0 Comments

  …Confirms Stable Financial Outlook for the Bank           Following its strong 2023 financial performance, Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has received an upgraded rating from Agusto & Co, validating the Bank as Bbb+ rated with an ESG Score of 2 and confirming a stable outlook …

• Bayo Adetu
• June 5, 2024
• BUSINESS
• 0 Comments

Fidelity Bank Plc (“Fidelity Bank” or the “Bank”) has concluded all necessary arrangements to raise a total of up to ₦127,100,000,000.00 (One Hundred Twenty-Seven Billion, One Hundred Million Naira) by way of a Rights Issue to existing shareholders and a Public Offer (the “Combined Offer”). The Combined Offer is a part of the Bank’s strategy to increase its share capital …

• Bayo Adetu
• June 4, 2024
• BUSINESS
• 0 Comments

The Nigeria Deposit Insurance Corporation (NDIC) yesterday announced the commencement of the liquidation of the defunct Heritage Bank Plc, following the revocation of its operating licence by the Central Bank of Nigeria (CBN). The corporation said the move was in accordance with Section 55 sub-section 1 and 2 of the NDIC Act 2023, adding that depositors of the defunct bank …

• Bayo Adetu
• June 3, 2024
• BUSINESS
• 0 Comments

Investors in Fidelity Bank Plc have earned more than 507 per cent in capital gains over the past five years, ranking above all other major return benchmarks at the Nigerian stock market and the entire banking sector. Trading reports at the Nigerian stock market for the five-year period between May 31, 2019 and May 31, 2024 showed that Fidelity Bank …

• Bayo Adetu
• June 3, 2024
• BUSINESS
• 0 Comments

Zenith Bank Plc has been named the “Most Sustainable Bank, Nigeria” in the International Banker 2024 Banking Awards, retaining the title for the second consecutive year. Commenting on the award, the Group Managing Director/Chief Executive Officer of Zenith Bank, Dame (Dr.) Adaora Umeoji, OON, said: “We are deeply honoured to be recognised as the Most Sustainable Bank in Nigeria for …

• Bayo Adetu
• June 1, 2024
• BUSINESS
• 0 Comments

Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced 124 winners in the Grand Finale of the third season of its reward initiative, the Wema Bank 5 for 5 Promo—bringing the winners for the season to a total of 1200. The Grand Finale held on May 31st, 2024, at the Wema Bank …

• Bayo Adetu
• June 1, 2024
• BUSINESS
• 0 Comments

FBN Holdings Plc declared N238.53 billion profit before tax (PBT) in its unaudited first quarter (Q1) ended March 31, 2024 results, which was about 325.2percent growth from the N56.1 billion reported in Q1 ended March 31, 2023. The Q1 2024 results was a reflection of 2023 impressive performance as one of the oldest banks in Nigeria sustained its fundamentals amid …