WorldStage

WorldStage Newsonline– Following a 65 per cent growth in profit at N8.5 billion during the financial year ended December 31, 2017, Sterling Bank has announced plans to focus on key growth sectors of the Nigerian economy that will enrich lives and grow the bottom-line.

Money Market

CBN lifts Retail Secondary Market Intervention Sales with $293m

May 18, 2018 - by Worldstagerep

WorldStage Newsonline– The Central Bank of Nigeria (CBN) on Friday lifted the Retail Secondary Market Intervention Sales (SMIS) of the inter-bank Foreign Exchange Market with the sum of $293m.

Education / Money Market

UBA innovates with ‘UBA Learn’ targeted at empowering students

May 18, 2018 - by Press Release

The pan-African Financial Institution, United Bank for Africa(UBA) has introduced a unique and innovative product, called ‘UBA Learn’ targeted at helping students achieve all round academic success.

Money Market

UBA Kenya to leverage on group’s capacity to finance large ticket transactions

May 17, 2018 - by Press Release

United Bank for Africa, a leading pan-African financial institution with operations in 20 African countries has assured the players in the private and public sectors in East Africa’s largest economy that its Kenyan franchise is ready and committed to finance key projects and business transactions capable of galvanising the economic development of the country and upscale the standard of living of its people.

Money Market

CBN injects $210m into Inter-Bank forex sector

May 15, 2018 - by Worldstagerep

WorldStage Newsonline– In another round of intervention, the Central Bank of Nigeria (CBN) on Tuesday, May 15, 2018, injected the sum of $210 million into the inter-bank Foreign Exchange Market to boost liquidity in the system.

Money Market

Diamond Bank reports N18.2b pretax loss in Q4 2017

May 15, 2018 - by Worldstagerep

WorldStage Newsonline– Diamond Bank has released its fourth quarter (Q4) 2017 results which showed that it delivered a pre-tax loss of –N18.2 billion as against Q4 2016, no thanks to declines of -52% and 48% in funding and non-funding income and a 29% spike in loan loss provisions to N21.5 billion.

Finance / Industry / Money Market / Nigeria

Nigeria: Fear grips banks over new open account policy in international trade

May 14, 2018 - by Worldstagerep

WorldStage Newsonline– Banks in Nigeria are currently gripped by fear and confusion over the new global order of international trade that encourages an open account method of transaction, where goods are shipped and delivered before payment is due, which is typically in 30, 60 or 90 days.