The Nigerian Equity Market commenced 2024 with a strong 35.28% growth in January, setting the tone for a year of mixed performance. The listed equity market experienced alternating months of growth and decline, the steepest drops occurred in April (-6.06%) and July (-2.28%). Despite these setbacks, the market showed resilience with recoveries in March, May, …
Category Archives: Brands
Keystone Bank Announces new Board Appointments
Business | 23 hours agoThe Central Bank of Nigeria (CBN) has constituted a new board of directors for Keystone Bank Limited (the bank) as part of the strategy to strengthen the bank’s operations for sustained business growth. The apex bank also appointed two additional executive directors for the lender. In a statement by the financial …
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FBNH Crisis :Court dismisses petition from shareholder linked to Otudeko against FBN Holdings’ AGM
The Federal High Court sitting in Lagos has refused to declare the planned 12th Annual General Meeting (AGM) of FBN Holdings Plc illegal or null, as requested by an aggrieved shareholder, Tohir Folorunsho Ismaila. Justice Deinde Dipeolu declined the reliefs sought by the petitioner on September 12, 2024, following a preliminary objection filed by FBN …
Stanbic IBTC: Buy, sell or hold
Amidst the policy shift in 2023, Stanbic IBTC has demonstrated notable growth. Gross earnings surged by 62% in 2023, driven by increases in both interest and non-interest income. This strong momentum has continued into 2024, with pre-tax profits soaring by 80.4% to N84.2 billion in the first quarter ending June 2024. This jump in pre-tax …
Banks Recapitalization Watch for the week ended September 6, 2024
The NGX-Banking Index nosedived 0.12% week on week (W-o-W) to close at 856.20. Amid Tier 1 banks, GTCO and ETI sustained upward share price movements, resulting in positive year-to-date (YTD) returns. Conversely, the share prices of other banks have trended downward. Specifically, Access Corp, UBA, FBNH, and Zenith have witnessed YTD returns decline, coming to -18.79%, -8.38%, -6.37%, and -2.98%, respectively. Among the Tier 2 banks, …
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CHARLES AIGBE : A Great Mind
Efficiency at work Charles Aigbe, is a consummate communications expert who knows his way around human relations and corporate communications In the ever changing world of corporate communications, Charles Aigbe is a rare breed. Apart from his exemplary discipline, vision, leadership qualities and placidness , Aigbe also has a reputation as a competent professional and …
ACCESS BANK’s Stock Cheaper, Good for Buy, Hold
The ongoing recapitalization initiatives of Access Holding ,no doubt, have continued to receive more endorsement and seal with the growing optimism from home and abroad. Simply Wall Street Pty Ltd, headquartered far away in Sydney ,Australia believed the offers have the potentials to score a home run . Last week, its analysts ,with over 120,000 worldwide …
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Between FBNH and Barbican Capital
The conflict between FBNH and Barbican Capital centres around the latter’s claim to a significant stake in FBNH. Barbican Capital, an affiliate of Honeywell Group Limited, asserted that it has a cumulative shareholding of 5,386,397,202 shares as of July 1, 2024, representing 15.1% of FBNH’s total outstanding shares of 35,895,292,791 units listed on the Nigerian …
Beyond FBNH vs Barbican Capital: Managing Legacy Share Ownership and Credibility of Disclosures
This article examines the ongoing legal dispute between FBN Holdings and Barbican Capital Ltd. within the context of ‘ownership ambiguity’ in Nigeria’s financial services industry and the regulatory implications of shareholding verification by the Central Bank of Nigeria within capital market norms. Outline: Prologue The FBNH-Barbican Capital contest mirrors a long-standing issue in and around the resolution …
THE STUNTED STEPS OF FCMB .
First City Monument Bank Plc, FCMB, was a model brand on arrival in 1982 ;when it was established by the banking legend and trailblazer ,Otunba Subomi Balogun ,one of its core values was to pursue excellence. A fleet footed corporate organization, it was nurtured to make a difference with superior service delivery and impressive financial …