Nigerian Breweries major shareholder, Heineken disclosed it purchased 274,542 units at an average price N35.76 per unit. Insider disclosures are reported on the Nigerian Stock Exchange as a regulatory requirement especially when it informs a major shareholder or director of a company purchasing shares in the company they own. In a related development, its chairman […]
Stanbic Bank Kenya CEO Charles Mudiwa during an investor briefing on August 8, 2019. PHOTO | DIANA NGILA | NMG Stanbic Holdings has posted a 37.2 percent decline in six-month net profit on account of reduced income and increased provisioning for loan defaults as Covid-19 pandemic continues to batter the economy. Net profit dropped to […]
Nigeria’s banks are expected to take a big hit to revenues and face rising borrowing costs this year as Central Bank of Nigeria’s (CBN) measures to support the naira squeeze lenders already hit by fallout from coronavirus and the oil price shock, analysts told Reuters. Banks in Africa’s largest economy – a mainstay for equity […]
THE banking sector has remained sound and stable, with levels of capital and liquidity above regulatory requirements. According to the Bank of Tanzania (BoT) Monetary Policy Statement for June, banks maintained adequate capital buffer to withstand shocks, as the ratio of core capital to total risk weighted assets and off-balance sheet exposure was 17.4 per […]
The market data shows that among actively traded stocks, 27 or 47 per cent of the companies registered gains while 30 or 53 per cent posted losses. FILE PHOTO | NMG Troubled Kenya Airways leads a group of loss-making companies to emerge with the best stocks from a period when the country imposed tight coronavirus […]
Fidelity Bank Plc has notified the Nigerian Stock Exchange (NSE) and the general public of the appointment of Nneka Onyeali-Ikpe, as the incoming Managing Director/Chief Executive Officer, effective January 1, 2021. The bank made the announcement on Monday in a notice on the NSE website, signed by Ezinwa Unuigboje, its Company Secretary. The notice said […]
Goddy Egene Ecobank Transnational Incorporated Plc (ETI) has started reaping the benefits of new strategies it put in place to reposition the pan-African financial institution as it posted highly improved results for the 2018 financial year. ETI recorded a gross earnings of N773.338 billion for the year ended December 31, 2018, compared with N763.634 billion […]
The provisions for loan losses by commercial banks in the country have continued to drop, thereby raising hopes of higher returns on investments for shareholders, THISDAY has learnt. Loan loss provisions had in 2016 and 2017 financial years impacted negatively on the bottom-lines of many banks due to the devaluation of the naira and difficult […]
By Dipo Olowookere The annual profit of Okomu Oil Palm Company Plc depreciated by 8.72 percent in 2018 financial year, the financial statements of the Edo State-based firm have revealed. The profit after tax, which was N9.3 billion in 2017, dropped to N8.5 billion in 2018, while the profit before tax declined to N10.3 billion […]
Nigerian Stock Exchange (NSE) Investors at the Nigerian Stock Exchange (NSE) on Wednesday traded a total of 131.43 million shares valued at N1.40 billion exchanged in 2,786 deals, the News Agency of Nigeria (NAN) reports. NAN reports that this was against 143.708 million shares worth N1.67 billion traded in 3,457 deals on Tuesday. The Financial […]
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