e-Banking Generates N667.21 Billion For Six Banks

As more Nigerians adopt the electronic banking paradigm, commercial banks are reaping the benefits, with six banks earning N667.21 billion in fees from electronic banking transactions over the last five years. Zenith Bank, Access Bank, FBN Holdings, United Bank for Africa (UBA), Fidelity Bank, and Guaranty Trust Holding Company generated this sum between 2016 and 2020. (GTCO). FBN made the most money out of the six banks, earning N177.58 billion in the last five years. The financial conglomerate, which operates the country’s largest agent banking network, recently revealed its half-year statistics for 2021, revealing that electronic transactions generated a total […]



As Positive Sentiment Continues, The Stock Market Gains N43bn

The Nigerian stocks market had a profitable trading session yesterday, expanding the profitable streak to four straight sessions. Investors’ bargain-hunting mentality was seen across all the major industries, highlighted by Insurance and Banking. In a nutshell, the All-Share Index (ASI) grew by 83.27 points, which equates to 0.22% growth. Similarly, the market capitalization total added N43 billion to settle at N20.070 trillion. Prices increased for large and medium-capitalized equities, including Guaranty Trust Bank, Dangote Sugar Refinery, Lafarge, Cutix, and Custodian Investment. Analysts at Afrinvest Limited expect the market to remain buoyant in the run-up to the first half (H1) of[…]