MONEY MARKET

Access Bank Plc has announced its unaudited results for the period ended March 31, 2016, showing Profit After Tax (PAT) up 42 per cent to ₦19.4billion in Q1 2016 from ₦13.7billion in Q1 2015. Profit Before Tax (PBT) for the period rose to ₦22.6 billion, representing a 37per cent growth...

Nine Deposit Money Banks (DMBs) in 2015 paid the sum of N71.6bn to the Asset Management Corporation of Nigeria (AMCON) as sinking fund, data gathered by Business247 has shown. Effective January 1, 2011, DMBs in Nigeria were required to contribute 0.3per cent of total assets as at the preceding year...

The OTC market grew in size and structure in the first quarter of 2016. At the end of the quarter, NASD had admitted 26 securities to trade as against 24 securities in the previous quarter with the introduction of two more companies (Fan Milk Plc and Vital Product Plc). The...

Guaranty Trust Bank plc has released its unaudited financial results for the first quarter ended March 31, 2016 to the Nigerian and London Stock Exchanges. A review of the first quarter 2016 result shows that the Bank recorded a 4.6 percent decline in gross earnings to N75.39 billion (Q1, 2015:...

Uncertainties in the nation’s economy have continued to weaken listed banks’ profit; with three of the 22 banks in the country losing N10 billion in their unaudited first quarter s and accounts for the period ended March 30, 2016. Slow gross earnings, naira volatility and other economic challenges have made...

  The United Bank for Africa Plc has announced its unaudited results for the first quarter of 2016, showing gross earnings of N74 billion and profit before tax of N18 billion. The UBA Group said it sustained its strong profitability, recording an annualised 20 per cent return on average equity....