‘Economic, Regulatory Pressures to Suppress Banks Q2 Earnings by 8%’. Amidst concern for economic recession which has generally clouded earnings outlook for 2020, analysts have estimated 8% cuts in banks second quarter earnings.
FirstBank Upgrades Mobile Banking App for Stronger Customers’ Experience. First Bank of Nigeria Limited has announced that its mobile banking application, FirstMobile has been upgraded with new and improved features to promote safe and convenient mobile banking experience for customers.
CBN’s Lending to Deposit Money Banks Hits 2020 High. Reflecting the Central Bank of Nigeria’s hawkish liquidity bias, Standing Lending Facility (SLF) position of deposit money banks (DMBs) hits 2020 high today at ₦350 billion.
Bargain Hunting Drives Equities Market Upward by ₦37.3 billion. Bargain hunting lifted the performance of the Nigerian Stock Exchange On Tuesday as the All Share Index gain 30 basis points to close at 24,097.48.
UBA Group appoints Deputy Managing Directors Nigeria, Africa. The United Bank for Africa Plc (UBA), a pan-African financial services group, on Tuesday announced the appointments of Mr Ayoku Liadi and Oliver Alawuba as Deputy Managing Directors.
Brent Crude Price Drops 0.4 Percent on COVID-19 Concern
‘Concerns around FX adjustment to Dampen Foreign Inflow’. United Capital Plc has said that concerns around further foreign exchange adjustment are likely to discourage large-sized foreign investment, both portfolio and direct inflows for the rest of 2020.
Nigeria’s COVID-19 infections Exceed 29,000 – NCDC. Nigeria’s coronavirus infections (COVID-19), on Monday, surpassed the 29,000 cases as the Nigeria Centre for Disease Control (NCDC) announced 575 new confirmed cases.
Net FX Position, Hedge Contracts to Help Banks Survive Pressure. The Nigerian banks abilities to survive regulatory and ‘virus’ triggered economic challenges would depend on their structure, net dollar position…
Banks go to IFC for Emergency Working Capital Support. Some of the leading Nigerian Banks are trooping to access facilities from the International Finance Corporation, IFC, the recent pattern has shown.