MARKETS

    Bank’s borrowing hits N164bn in six months Share price fell by 4.2% to N1.6 Diamond Bank Plc released its half year (H1 2016) performance showcasing weaker growth in key financial parameters that include profit before tax that dropped by 26 per cent. The group’s profit before tax moved...

Following the unstable foreign exchange situation in the country, Dangote Cement Plc has announced a decline of 15 per cent in profit for the half-year period of 2016. The cement manufacturing company in its unaudited financial statement for the half year (H1) ended June 30, 2016 reported that its profit...

Investors on the Nigerian Stock Exchange (NSE) traded 270.722 million shares valued at N2.247 billion in 4,609 deals on Thursday. Market capitalisation of the market closed at N9.633 trillion and the All-Share Index  at 28,046.96 basis points as against N9.687 trillion and 28,205.62 basis points respectively on Wednesday, translating to...

First Bank of Nigeria Holdings Plc today announced the appointments of a new memebers  into the Board of FBN Holdings Group. The appointments which were approved by the Board of Directors since July 19, 2016 remained subject to all necessary regulatory approvals. Ms. Cecilia Akintomide and Mrs. Oluwande Muoyo are...

Investors in equities on the Nigerian Stock Exchange (NSE) managed a gain of N9 billion on Wednesday as against huge gains of N108 billion they made on Tuesday. The Market Capitalisation of the Exchange which closed at N9.597 trillion on Wednesday and All-Share Index at 27,945.02 basis points rose to...

Naira weakened to an all-time low of 334.50 against the dollar on the interbank market on Wednesday, a day after the central bank hiked interest rates to try to lure foreign investors back into local assets, traders said. A report from Reuters monitored by Reuters said. The naira fell 5.8...

As Nigeria economy continued to battled naira devaluation, Caverton Offshore Support Group Plc has warned investors that its profit for the half year ended June, 2016 would drop as the company recorded huge losses arising largely from dollar dominated borrowing. The leading provider of marine, aviation and logistics services to...

First Bank of Nigeria (FBN) Holdings Plc is at the brink of a major credit crisis as its Non Performing Loans (NPLs) hit 22 per cent in half year ended June 30, 2016 from 4.1 per cent recorded in half year of 2015. Apex banking regulating body, Central Bank of...

Stanbic Bank has been formally awarded a banking license in Côte d’Ivoire in a drive towards establishing a presence in Francophone West Africa market. It will be recalled that the Group opened a representative office in December 2013, and now gearing up to commence banking operations in a market which...

Respite came the way of investors on the Nigerian Stock Exchange (NSE) on Tuesday as the market reversed a six-day losing streak for the All-Share Index appreciated by 1.14 per cent to close at 27,945.02 basis points in contrast to a decline of 0.11 percent recorded on Monday when it...