Browsing: Banks

Banks earnings rose sharply in 2023 as Nigerian lenders earned higher interest income from loan book repricing.  In the latest earnings release by banking sector dominating lenders, their individual report showed interest income skyrocketed using effective pricing method.

The African Banking Digital Transformation Report, a collaboration between pan-African publication African Banker and Backbase, creators of The Engagement

Buying interest in Oando Plc, Nestle Nigeria, banking names, and other supporting stocks is pushing the market capitalisation of the Nigerian bourse upward. The latest rally in the stock market has been boosted by dividend payment expectations and overall positive expectations in the Lagos bourse.

The naira, Nigerian local currency, crashed by about 13.3% day on day in the foreign exchange (FX) market on the obvious FX liquidity challenge that has persisted since last month.

Nigeria’s sovereign Eurobonds experienced positive trading activity in the international market, which caused yield to decline by 7 basis points. Foreign investors logged fresh demand for Nigeria’s US dollar, causing the average yield to decline by 0.07% to 9.91%, according to Cowry Asset Management Limited.

In the bond market, there was slight trading activity for FGN Bonds in the secondary space. However, the average yield stayed muted at 18.69%, sustaining negative interest yield on naira asset.

Equities investors gain N294 billion from the stock market on Tuesday due to sustained interest in medium and large companies. As a result, market capitalisation, which began at N55.359 trillion, increased by N294 billion to close at N55.653 trillion.

The average yield on Nigerian Treasury bills declined as traders in the secondary market ramped up naira assets as preferred options to reduce inflation scotch on wealth.

Futureview financial services limited has rated major banking names buy on double digit returns expectations. The investment firm decision appears to have been

The Central Bank of Nigeria (CBN) has increased the benchmark interest rate by 150 basis points to consolidate its