Africa’s Global Bank, United Bank for Africa (UBA) Plc, on Monday joined the elite group of companies with market capitalisation of over N1tn just as its share price value hitsN29.90 per share. At the close of trading on Monday, the Bank’s market capitalization hit N1,022,562,698,843, making it the 3rd most capitalized financial institution in Nigeria, a […]
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Transcorp Hotels PLC, the hospitality subsidiary of Transcorp Group has announced its financial performance for the third quarter of 2023, showing a strong year-on-year growth on all indices. The leading hospitality brand sustained strong growth, recording 31.76% growth in revenue to N29.9bn from N22.7bn the previous year, and significantly higher than pre-covid performance. Profit also grew by 62% to N5.5bn from from N3.4bn. […]
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Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Unaudited Consolidated and Separate Financial Statements for the period ended September 30, 2023, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of ₦433.2billion, representing an increase of 155.2% over ₦169.7billion recorded in the corresponding […]
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NIGERIA – the minister of finance and coordinating minister of the economy, Wale Edun, says the federal executive council (FEC) has approved a $1.58 billion loan request. Edun said the loan request is split into two; $1.5 billion from the World Bank and $80 million from the African Development Bank (AfDB). The minister revealed the approval after […]
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The Peoples Democratic Party (PDP); and Labour Party (LP), have tackled the Federal Government and the ruling All Progressives Congress (APC), as costs of food items, others pushed inflation to an 18-year high of 26.72 per cent in September. The Presidency and APC kept sealed lips on the attacks with the National Bureau of Statistics, […]
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Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2023, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of ₦327.4billion, representing an increase of 217.1% over ₦103.2billion recorded in the corresponding […]
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Bismarck Rewane, chief executive officer of Financial Derivatives, says Nigeria’s economy is expected to experience growth in the first quarter of 2024. Rewane, who was a guest on Arise News on Saturday, said Nigerians will have to endure “more pain” before next year. “The bad news is that there is pain and they will be […]
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NOVA Merchant Bank has received approval from its shareholders to transition into commercial banking. The shareholders gave their unanimous approval during the company’s 6th Annual General Meeting in Lagos on Wednesday, where they agreed that the bank remains well-positioned to sustain and build upon its growth legacy. At the meeting, the company’s Board of Directors took […]
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The appreciation of the US dollar is having an adverse effect on emerging market economies. The International Monetary Fund (IMF), explained the impact in a blog post. Emerging markets include Nigeria, Egypt, Iran, Pakistan, Russia, Saudi Arabia, Taiwan, Thailand, among others. In a blog post published on Wednesday, the Bretton Woods institution said the dollar’s […]
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Guaranty Trust Bank Ltd (“Guaranty Trust” or “the Bank”) has been named Best Bank in Nigeria at the Euromoney Awards for Excellence 2023. This marks a record 12th time that Guaranty Trust Bank has been recognised as the leading financial institution in Nigeria. Announcing the award, Euromoney stated: “Nigeria’s Best Bank, Guaranty Trust Bank, has […]
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