BANKING

The Managing Director of Diamond Bank Plc, Mr. Uzoma Dozie, has described trust as an important factor for the acceptability of any electronic banking solution. He spoke during a panel session at the 2018 Annual National Conference of the Finance Correspondents Association of Nigeria (FICAN), with the theme: “Banks, Fintechs...

Faculty member, Lagos Business School (LBS), Dr. Olayinka David-West, has said that Financial Technology (FinTech) companies will not displace banks in their competition for market share and provision of financial services to customers. She made the assertion at the weekend in Lagos while speaking at the 2018 Finance Correspondents Association...

  A total of 1.7 billion adults are unbanked globally out of which more than 60 million Nigerians are without bank accounts. This is according to  2017 World Bank Global Findex Database report on financial inclusion titled, “The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution” ....

Despite having lower valuations compared to its peers in South Africa and Kenya, Nigerian banks performed better in terms of profitability and efficiency in making use of their operating funds in 2017. Research by BusinessDay on the best five performing banks in Nigeria, South Africa and Kenya showed Nigerians banks...

Stanbic IBTC Bank Plc has emerged winner of the Gold Prize at the 2017 edition of Deutsche Bank Awards for Excellence in Cash Management and Trade Finance in Nigeria. This is the second time the bank is being awarded as the top performer in this category. The category tagged Straight-Through...

FBN Holdings Plc leads Tier-1 banks in Non-Performing Loans (NPL) performance for 2017 financial year. Tier-1banks comprises of FBN Holdings, Zenith Bank, United Bank for Africa Plc (UBA), Guaranty Trust Bank Plc (GTBank) and Access Bank Plc. The group NPL thus dropped to N520 billion, 11 per cent below N584.2...

  Heritage Bank Plc has said it is committed to the sustenance, growth and development of Nigeria’s agricultural sector. The bank, according to its Divisional Head of Corporate Communications, Mr. Fela Ibidapo, in its determination to deliver on this promise, is currently funding various agricultural projects in several states of...

  As part of its new focus on the youth segment and further to the launch ofUNiFi product, the Bank’s new Youth and Digital Banking initiative, Unity Bank Plc recently rewarded the creativity of three young people. These recipients – referred to as Unifiers – demonstrated their innovativeness and distinguished...

  Ukraine’s largest lender PrivatBank said Monday it had filed a $3bn lawsuit against PwC, claiming the auditor failed to call attention to “the huge fraud” plaguing the bank for years. PrivatBank was nationalised in 2016 after authorities blamed billionaire Igor Kolomoyskiy and other bank owners for issuing bad loans...

      Card-to-card payments disrupter PaySend continues to bring a new generation of money transfers to the African market through its new partnership with Access Bank Nigeria. PaySend’s rapidly expanding business now operates in more than 60 countries and it is looking to boost its presence across Africa. Ronald...