Total Nigeria forced its way through a major drop in sales to register a turnaround from a half-year loss of N537 million to a profit of N2.2 billion at the end of the 2020 financial year. The company’s management report for the year shows that the final quarter accounted for N1.7 billion or 78 percent […]
Nigerian stocks were up by N436.250 billion in the week that just went by. Nigerian stocks were up by N436.250 billion in the week that just went by, buoyed by a number of impressive earnings report and corporate actions like dividend declaration that strengthened investors’ sentiment. Monday, Wednesday and Thursday’s sessions were upbeat while the […]
An Access bank signage is displayed on the roof of the bank’s building along Herbert Macualay way in Abuja, Nigeria, August 30, 2017. REUTERS/Afolabi Sotunde ABUJA (Reuters) – Nigeria’s biggest lender Access Bank has invested around $60 million to acquire a stake in South Africa’s Grobank, its chief executive said on Tuesday, to become the […]
Nigerian stocks were up by 0.63 per cent or N127.9 billion on Wednesday as investors regained morale after a significant loss at the previous trading dented confidence. The upbeat close rested on gains by sector leaders Dangote Cement, Nestle and Nigerian Breweries. Still, the cumulative appreciation recorded was not enough to offset half of the […]
Joseph Olaoluwa The total expenses made on transportation and freight costs of oil products by three major oil marketing companies in the country in 2020 amounted to N3.68bn. This is in contrast to the N5.13bn the oil firms spent for the same purpose in 2019. The oil marketing companies, Total Nigeria Plc, MRS Oil Nigeria […]
Fidelity Bank says in its 2020 financial report that it will pay 22 kobo dividend per share. Fidelity Bank Plc on Wednesday said it made N28.1billion profit in 2020 in what it described as testimony of its resilience and stability. In the results announced on the Nigerian Stock Exchange (NSE) , the Nigerian lender reported […]
Access Bank Plc has recorded positive results despite a challenging economic and regulatory landscape in 2020, the bank’s audited financial statement has shown. The bank recorded gross earnings of N764.7 billion, up by 14 per cent from N666.8 billion in 2019. Profit before tax grew by 13 per cent to N125.9 billion from N111.9 billion, […]
The bank toppled Zenith that had been at the top spot by asset for 37 weeks. An appreciation of N1.537 trillion or 21.6 per cent within one year has ramped up the asset value of Access Bank Plc to N8.680 trillion, making it Nigeria’s biggest lender in that rating category. Jim Ovia-led Zenith Bank hogged […]
GTB already has branches in Kenya, Ghana and eight other countries. The management of Guaranty Trust Bank is making plans to acquire a Kenyan lender. The bank’s managing director, Segun Agbaje, disclosed this at an investor call in Lagos, Bloomberg reported Monday. According to him, this is part of the bank’s plan to expand its […]
This move suggests the top tier lender could be taking the long view by laying up more earnings for future use rather than prioritising immediate returns for sharholders now. United Bank for Africa (UBA) will pay shareholders less dividend for the last financial year despite a more-than-a-quarter climb in profit, and a swelling of N60.6 […]
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