Innoson Move To Take Over Guaranteed Trust Bank Over The Bank’s N8.7 billion Indebtedness

Innoson Nigeria Limited, Nigeria’s indigenous vehicle production company, has instituted a move to take over Guaranteed Trust Bank, GTB, following a ruling by the Supreme Court over the bank’s N8.7 billion indebtedness to the company. The company’s chairman, Chief Dr. Innocent Chukwuma, made the move through a “Writ of FiFa taken over Guaranty Trust Bank PLC for and on half of Innoson Nigeria Ltd” as a result of the Bank’s indebtedness to Innoson Nigeria Ltd. Please follow and like us:

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Barriers To Trade Have Kept African Economies In Silos Of Underperformance… Oramah

Professor Benedict Oramah, President, of the Africa Export-Import (Afrexim) Bank, has said that Africa is making gradual progress compared to two decades ago. Oramah noted, not only have the trade walls prevented economic growth, but they have also led to a social distancing of people and cultures.  Presenting a keynote paper at the 4th edition of the Centre for Financial Journalism’s Bullion Lectures in Lagos, Oramah said that Africa is becoming the “bread basket” of the world from the “basket case” hitherto associated with it. But to make further progress “Africa…

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Access Bank Plc. Declares N95bn Profit For 2018

Access Bank Plc said it will pay a final dividend of 25 kobos for every unit of share, bringing the total dividend for the financial year ended December 31, 2018, to 50 kobos per share. More so, Profit before tax jumped from N78.1 billion in 2017 to N103 billion in 2018. Profit after tax rose from N60 billion in 2017 to N94 billion in 2018. Earnings per share rose from N2.11 in 2017 to N3.31 in 2018. Please follow and like us:

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UBA Earnings Hits N494.0bn, Records Significant Asset Growth, Driven By Market Share Gains Across Africa… …Records Profit of N106.8 Billion

The Pan-African financial institution, United Bank for Africa Plc has announced its Audited 2018 Financial Results with impressive growths achieved across major financial lines.  According to the 2018 financials filed at the Nigerian Stock Exchange on Tuesday, Africa’s global bank’s gross earnings grew by 7.0 percent to N494.0 billion, compared to N461.6 billion recorded in the corresponding period of 2017. The Bank’s total assets also grew significantly by 19.7 percent to an unprecedented N4.9 trillion for the year under review. These results, according to financial analysts largely demonstrate the benefits of the Group’s…

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NOVA Merchant Bank Limited declares N1.15bn in profit after tax.

NOVA Merchant Bank Limited declared a profit after tax of N1.15bn for the year ended 31st of December 2018, an increase from N510.6m in 2017, as it begins to reap the benefits of its investments in its operations, technology and people. This impressive result demonstrates the Bank’s growth trajectory which is expected to accelerate as it scales its business and grows its client base. It achieved strong growth across all parameters. The Bank recorded a 54.10% growth in gross earnings from N1.22bn in 2017 to N1.88bn, grew profit after tax…

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Guaranty Trust Bank Set To Sponsor The 2019 Lagos Int’l Polo Tournament

Some of the most renowned indigenous and international polo teams are set to convene in Lagos, Nigeria to compete for highly coveted trophies in the 2019 Lagos Int’l Polo Tournament Sponsored by leading African Financial Institution, Guaranty Trust Bank plc. This year’s competition will begin on March 13, 2019 and will see both Nigerian and foreign teams compete in five main cups, namely; the Silver Cup, Open Cup, Oba of Lagos Cup, Low Cup and Majekodunmi Cup. Over the years, GTBank has been at the forefront of supporting Polo; widely…

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UBA Group Launches Full Banking Operations in the UK

Three weeks after the UBA group launched its operations in Mali, the global financial city of London hosted a high-level gathering of business and public sector leaders on Thursday, February 28, 2019, as the new UBA franchise, UBA UK was formally birthed in the United Kingdom amidst high expectations. At the upscale ceremony which held at The Prestigious Shard in the city of London, UBA UK was formally introduced to business leaders across Europe and Africa with a commitment from the UBA Group of its readiness to galvanize trade and commerce between…

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How Leo won a million hearts in 12 months…More than one million Africans now bank on Leo

With ever-increasing customer expectations of quick service and near real-time transactional support, United Bank for Africa (UBA) committed resources to Artificial Intelligence (AI) a year ago, birthing Leo, a Banking Chatbot that helps customers carry out key banking transactions anywhere, using mobile devices and personal computers. Leo can be accessed via Facebook or WhatsApp.  “Our customers are increasingly asking for mobile services that make their lives easier, and Leo is becoming a growing choice for his convenience and personal solutions,” says Austin Abolusoro, who heads Online Banking at UBA.  Leo combines…

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Transcorp Sets Record Performance with Profit After Tax of N20.6bn

Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s leading diversified listed conglomerate, has announced its audited results for the year ended 31st December 2018, with a 94% growth in Profit After Tax (PAT) of ₦20.6bn in 2018 compared to ₦10.6bn in the prior year. The Group recorded an unparalleled improvement within the year as turnover grew by 30% to ₦104.2bn. Profit Before Tax (PBT) increased to ₦22.4bn from ₦12.3bn in 2017, depicting an 82% year on year growth. “We’re proud to have ended the year on a high-note while sustaining a strong performance, which is a reflection of our sound business strategy,”…

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