South African mobile phone operator, MTN Group, on yesterday scrapped its local mobile money business due to its high operating cost. The Brand said, in a statement in Johannesburg, that the business was no longer viable in a country where around three quarters of the population already had a bank account. “The operating costs of… Continue reading [BRANDS]#DEBRANDING: MTN NIGERIA DISCONTINUES MOBILE MONEY SERVICES IN SOUTH AFRICA.
First Bank of Nigeria Limited, Nigeria’s most valuable banking brand and foremost financial institution, yesterday announced the appointment of Mr. Olusegun Alebiosu as its new Chief Risk Officer (CRO). Prior to this appointment, Olusegun was the Chief Risk Officer of Coronation Merchant Bank. Mr. Alebiosu’s appointment, which is still subject to approval by the Central… Continue reading [BRANDS] #BANKING: FIRST BANK CONFIRMS OLUSEGUN ALEBIOSU AS CHIEF RISK OFFICER.
SunTrust Bank is the first regional bank to receive a new license by the Central Bank of Nigeria (CBN) since 2001 and the first full-fledged financial technology bank in Nigeria. The Bank is the first commercial bank that runs minimal branches and focuses on electronic channels by offering telephone, mobile and internet banking services. According… Continue reading [BRANDWEEK REPORT]#BANKING: ALIKO DANGOTE LAUNCHES SUNTRUST BANK.
Jim Ovia-Chairman Zenith bank plc ZENITH Bank Plc has been rated Nigeria’s most customer-focused bank by KPMG. In the 2016 edition of the annual banking industry Customer Satisfaction Survey recently released, Zenith topped other Nigerian banks in the Customer Satisfaction Index (CSI) with a total of 74.6 points to clinch the prime… Continue reading [BANKING] #CS: KPMG ENDORSES ZENITH BANK AS MOST CUSTOMER FRIENDLY BANK.
The equities market closed today on a negative note, as Nigerian Stock exchange ALL SHARE INDEX ( NSE ASI) depreciated by 0.25% to close at 28,733.90 basis points , compared with the 0. 36 % appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +0 .32%. Market breadth closed negative as SKYEBANK led 10gainers… Continue reading [BRANDWEEK] #REPORT: SKYEBANK SHARE RISES FOLLOWING ACQUSITION BY CBN AND AMCON. READ:
To further promote real sector investments, First City Monument Bank (FCMB) Limited, has assured its stakeholders that it will continue to deepen its support to projects and other initiatives that would impact significantly on Nigerians and the nation’s economy in a sustainable manner. This, according to the Bank, is in line with its values as… Continue reading [BANKING] #SPONSORSHIPS #CSR: FCMB PLEDGES SUPPORT AS NESTLÉ UNVEILS N5.7Bn WATER FACTORY.
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According to a report from Accenture, in near future, the financial institutes will explore blockchain technology in a bigger way. To make this process easier, IBM, The Linux Foundation, and other tech giants have partnered with big banks to announce an open source project called the “Open Ledger Project” which would inadvently simplify bitcoin transactions… Continue reading [BRANDS] IBM AND LINUX IS WORKING ON OPEN SOURCE LEDGER FOR BANKS TO COMPLEMENT BITCOIN AND BLOCKCHAIN.
Letshego Holdings, a leading micro-finance lender has made moves to acquire 100 percent stake in another commercial bank in Nigeria, FBN Microfinance Bank, a month after acquiring another bank in Tanzania. The move is part of their strategy to expand into Africa. FBN Microfinance Bank Limited is a deposit taking financial institution that specialises in… Continue reading [BRAND DEBUT] LETSHEGO IS ACQUIRING FBN MICROFINANCE BANK IN NIGERIA.
SEGUN Agbaje MD/CEO GTBANK Receiving the award as ‘Bank of the Year’ during the 2015 Banker Awards held in London, United Kingdom Managing Director/CEO of GTBank SEGUN Agbaje said: “We are delighted and proud to be recognized as the 2015 Bank of the Year. Our vision has always been to create an oasis and… Continue reading [AWARDS] GTBANK STILL THE UNDISPUTED HEAVYWEIGHT CHAMP.,NAMED BANK OF THE YEAR 2015 (2ND TIME RUNNING).