Abbey Mortgage Bank Plc has expressed worry over the high non-performing loans in the mortgage industry. The Managing Director of the bank, Mobolaji Adewumi, stated this on Thursday during a ‘Facts Behind the Figures’ presentation at the Nigerian Exchange Limited. He said, “For mortgage banks, the NPLs are quite high. In 2020, when VFD Group…
Wema Bank has denied claims that it is distressed just as Union Bank of Nigeria says it is not shutting down operations on Friday (today). In a statement, Wema Bank said that there was no truth to the claims made in some sections of the media (Not The PUNCH). “Rather than bow to pressure from…
The newly appointed Managing Director and Chief Executive Officer of Keystone Bank Limited, Mr. Hassan Imam, has reassured the bank’s customers of the safety of their funds and effective service delivery. Imam gave the assurance in a statement released on Thursday and pointed out that the recent leadership change in the bank did not affect…
An indigenous operator in the Aviation sector, NAEBI Dynamic Concepts Limited is acquiring additional equipment to enhance its service delivery. The Company is acquiring Information Technology Tracking Devices , Body-worn Cameras , Control Room complete Facility Rack fitted amongst other support Information Technology Facilities that will capture and relay data for Helicopters flying in and…
Access Bank, the flagship subsidiary of Access Holdings Plc, has entered into a transaction with the Ugandan-based Finance Trust Bank Limited and it’s shareholders for the acquisition of a majority equity stake in FTB. According to a statement signed by the Company Secretary, Sunday Ekwochi, which was filed with the Nigerian Exchange Limited on Wednesday,…
The Nigerian National Petroleum Company Limited says it has in the past one week uncovered no fewer than 83 illegal refineries in the Niger Delta. The NNPCL disclosed this on its X handle on Tuesday, as part of its war on crude oil theft, saying 15 illegal pipeline connections were also discovered within the same…
FIDELITY Bank has launched a creative writing competition for secondary school students dubbed Read2Lead. It is part of bank’s Corporate Social Responsibility initiatives designed to empower Nigerian youths with quality education. Themed Read2lead, the three-stage competition would see secondary school students hone their reading and writing skills while competing for millions of naira in cash…
Stanbic IBTC Holdings, a member of Standard Bank Group, has once again proven its commitment to delivering exceptional customer experiences by securing top spots in KPMG’s 2023 West Africa Banking Industry Customer Experience Survey.In the recently released survey results, Stanbic IBTC emerged as a leader in retail, SME and corporate segments, securing the prestigious top…
Barely hours after the Central Bank of Nigeria dissolved the boards and managements of Union Bank of Nigeria, Keystone Bank and Polaris Bank over alleged corporate governance infractions and non-compliance with regulatory requirements, the financial regulatory body appointed new executive directors to oversee the affairs of the deposit money banks. A statement by the acting…
