Bank
Stanbic IBTC Enhances Intercontinental Trade, Holds Africa-China Trade Expo
Stanbic IBTC Enhances Intercontinental Trade, Holds Africa-China Trade Expo
Stanbic IBTC Holdings, a member of Standard Bank Group, remained relentless in enhancing international trade between Africa and China. The financial institution recently hosted the Africa-China Trade Expo to promote trade relations and boost economic prosperity in the two regions.
The two-day hybrid event, which held on 10 and 11 August 2022, featured industry experts and professionals from Nigeria, South Africa, and China. The event, themed ‘Synergy for Growth’, focused on export enablement and import policies, bilateral trade relations, product exhibitions by Nigerian and Chinese businesses, and the various means through which Stanbic IBTC had facilitated trade between Nigeria and China.
In his opening remarks, the Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, disclosed that Stanbic IBTC’s Africa China Trade Solutions (ACTS) had connected numerous Nigerians to over 16,000 Chinese suppliers, and thereby promoted valuable trade relationships between the two economies. He said: “Through our relationship with the Industrial and Commercial Bank of China (ICBC), we connect various businesses while we create opportunities to generate foreign exchange for the country.”
The need for business-friendly import and export policies was extensively addressed at the event. Ade Otukomaya, Head, Africa China Banking, Stanbic IBTC Bank, stated that business-friendly import and export policies would facilitate increased intra-regional and international trade. “Policies, which are a deliberate system of guidelines to achieve rational outcomes, are key to improving trade relations. We want to encourage more trade and pursue open trade policies with other nations such as China, to catalyze the growth of Africa’s economy,” Ade said.
In the same vein, Remy Osuagwu, Executive Director, Business and Commercial Clients, Stanbic IBTC Bank, said: “African businesses can now export agro commodities and other products to China at subsidized rates. Chinese clients can also import and export goods and services from their provinces to Africa at lower costs. This will increase revenue for both nations, encourage market diversification and foster better international economic cooperation between the two nations. Our trade partners, Zhejiang International Trading Supply Chain Limited, have simplified the processes to enable seamless trade transactions between clients in both nations.”
According to Remy, improved trade relations between Africa and China will trigger business growth, which in turn will promote the development of commercial trade services, enhance import and export of commodities, and boost economic development.
Remy highlighted that market diversification, would yield positive results. “The sole focus on the domestic market exposes clients to an increased risk from downturns in the economy, environmental events, or other risk factors. Less dependence on a single market, helps to mitigate potential risks and can open avenues for new product lines or commodities across nations. The Africa-China Banking Conference and Exhibition will provide a new platform for economic cooperation, coordination of import and export of bulk commodities, trade promotion activities, and the sustained development of our foreign trade relations with China.”
Seun Ogundolapo, Head Trade, Transactional Products and Services, Stanbic IBTC Bank, remarked that the RT200 FX Policy by the Central Bank of Nigeria (CBN) will encourage more businesses to go into export as well as prompt exporters to add value to the commodities they export.
He said “The RT200 policy is designed to increase the nation’s earnings exclusively from non-oil exports to $200 billion in foreign exchange repatriation, within the next three to five years. This is also in line with our mandate to promote exports of agro commodities and semi-finished or finished goods to other countries.”
Alpha Morgan Bank Rolls Out Mobile App for Android & iOS — Instant Account Opening on Alpha Morgan Bank Mobile App
Alpha Morgan Bank officially launched its mobile banking application, marking a major milestone in the Bank’s mission to simplify banking experiences for individuals and businesses across Nigeria. The Alpha Morgan Banking App is available for download on both Goole Play Store and iOS App Store.
Built around the principles of simplicity and user-centric innovation, the Alpha Morgan App allows customers to take full control of their finances from the palm of their hand anytime and anywhere. With features that meet the evolving needs of modern banking users, the app provides a secure, intuitive, and efficient digital banking experience, designed to make everyday banking fast, simple, and secure.
Users can enjoy instant onboarding and account access, seamless fund transfers both within and outside Alpha Morgan Bank network and effortless bill payments. The app also offers real-time transaction history for easy tracking, secure login options including biometric authentication, and round-the-clock access to customer service support, all tailored to delivering Satisfying Banking at your fingertips.
According to Mr. Ade Buraimo, Managing Director/CEO of Alpha Morgan Bank, “The launch of the Alpha Morgan App is a digital convenience and a significant step forward in our broader mission of delivering satisfying banking to every customer.”
This digital rollout also complements Alpha Morgan Bank’s commitment to flexible and accessible banking across Nigeria’s diverse population.
Customers can now download the Alpha Morgan App on Google Play Store and iOS App store.
Scan to download Alpha Morgan Bank App
FirstBank Agric and Export Conference: Charting a New Course for Non-Oil Exports
Lagos, 11 August 2025 – FirstBank, the premier West African financial institution and financial inclusion service provider is proud to announce the 2025 edition of the FirstBank Agric and Export Conference themed “The Fundamentals of Building a Non-Oil Export Driven Economy“, which will take place on Tuesday, August 19, 2025, at the Eko Convention Centre. Building on the momentum of previous successful editions, this year’s Expo reaffirms the Bank’s commitment to supporting Nigeria’s agricultural and non-oil export sectors as key drivers of economic development.
The FirstBank Agric and Export Conference aims to keep Nigerians abreast of emerging trends in the agricultural and non- oil export sector, whilst providing them insights into how innovative solutions can contribute to the overall development of the economy, and the nation at large. The conference will adopt a hybrid format, allowing most participants to join virtually while principal stakeholders attend in person. Attendees will have the opportunity to explore exhibition booths featuring major organizations and associations from industry. The event will feature a keynote speech, Goodwill messages, Plenary discussions, where select Speakers will expound on the theme and technical sessions to be handled by subject matter Specialists in the Agriculture and Export Value Chain.
Expected guest speakers include the Honourable Minister of Agriculture & Food Security, Senator Abubakar Kyari as the keynote speaker while the plenary and technical sessions will be enriched by insights from industry leaders like the MD Bank of Agriculture (BOA), Mr. Jafar Abubakar Umar; MD/CEO Nigerian Export-Import Bank (NEXIM), Mr. Abba Bello; National Action Committee on AfCFTA, Mr. Segun Awolowo; President, All Farmers Association of Nigeria, Architect Kabir Ibrahim, CEO Nigerian Export Promotion Council (NEPC), Mrs. Nonye Ayeni and a host of others. These renowned speakers will contribute their expertise and perspectives throughout the various sessions, ensuring participants gain valuable knowledge to enhance their roles within the agricultural and export value chain
Speaking on the Conference, Olusegun Alebiosu, Managing Director, FirstBank Group stated, “The FirstBank Agric and Export Conference is a strategic platform for stakeholders to converge, share knowledge, and drive strategies that can unlock the full potential of Nigeria’s agricultural sector and non-oil export industry. Through this platform, FirstBank is empowering customers and stakeholders by providing them with actionable insights, innovative solutions, and valuable connections that can help them navigate the complexities of the agricultural and nonoil export sectors. In addition, we aim to deliver tangible benefits to our customers, enhance their business prospects, and create lasting value for our stakeholders, while contributing to the growth and development of Nigeria’s economy.”
To participate in the FirstBank Agric and Export Conference, interested participants can click on https://firstbanknigeria.zoom.us/webinar/register/WN_Lit8tD6KSm6kzLMcyHwo8Q to register.
The FirstBank Agric and Export Conference is one of the Bank’s key initiatives to promote collaboration and innovation within the agricultural and non- oil export sectors. By providing a strategic platform for stakeholders, the conference aims to enhance the competitiveness of customers and partners in the global market. With agriculture identified as the most viable alternative to oil for generating foreign exchange earnings, this initiative supports economic diversification and is poised to accelerate national growth and development.
About FirstBank
Business
Wema Bank Releases unaudited results for H1 2025, Profit Before Tax climbs 231% to N101.2billion
Wema Bank Releases unaudited results for H1 2025, Profit Before Tax climbs 231% to N101.2billion.
Wema Bank Plc, Nigeria’s oldest indigenous bank, most resilient and pioneer of Africa’s first fully digital bank, ALAT, has released its unaudited consolidated financial statements for the half-year period ended June 30, 2025, to the Nigerian Exchange Group (NGX).
On track to set an unprecedented benchmark, Wema Bank’s H1 2025 Unaudited Financial Results reported remarkable financial upturns including a Profit Before Tax (PBT) of ₦101.2 billion, representing a 231% increase compared to ₦30.55 billion recorded in the corresponding period of H1 2024. The Bank’s Gross Earnings also rose to ₦303.20 billion, reflecting a 70% increase from H1 2024’s ₦178.63 billion. Interest Income grew by 65% year-on-year to ₦240.12 billion (H1 2024: ₦145.53 billion), while Non-Interest Income surged by 91% year-on-year to ₦63.08 billion (H1 2024: ₦33.10 billion).
Wema Bank’s balance sheet remained robust and well-structured, with total assets rising from ₦3.585 trillion in HI 2024 to ₦3.963 trillion in H1 2025; deposit base growing by 3% from ₦2.523 trillion in FY 2024 to ₦2.60trillion, and Loans and Advances growing by 19% to ₦1.426 trillion in H1 2025, compared to ₦1.201trillion reported in FY 2024. The Bank’s Non-Performing Loan (NPL) ratio stood at 3.17% as at H1 2025, reflecting the Bank’s continued focus on maintaining asset quality. These indicators not only reflect Wema Bank’s resilience and efficiency, but also its strong capacity to sustain its growth momentum and continue to deliver optimum value to its stakeholders.
Commenting on the outstanding results, Wema Bank’s Managing Director/CEO, Moruf Oseni, affirmed the Bank’s commitment to maintaining the upward growth trajectory in its financials and delivering optimum value to every stakeholder of Wema Bank. According to him, “For 80 years, Wema Bank has redefined impossible, consistently breaking new ground and raising the bar in delivering positive impact. 3 years ago, we took our Profit Before Tax from ₦14.75 billion in 2022 to ₦43.59 billion in 2023, and in 2024, our PBT stood at an impressive ₦102 billion. Now, just halfway through 2025, we have achieved over 99% of our 2024 full-year PBT in just H1, and for us, this is just a starting point”.
“As a Bank, we have remained committed to surpassing expectations and redefining limitations and this is a standard we are prepared to uphold relentlessly. Wema Bank is the Bank that works for all and we will continue to pull all stops in delivering optimum value to every stakeholder, from our shareholders to customers, employees, partners, regulators, and every person and institution who has played a part in our 80-year journey and beyond,” Oseni concluded.
For 8 decades, Wema Bank has built a legacy of empowering lives, breaking untapped ground, setting industry standards, proving unmatched resilience and delivering unparalleled value to Nigerians of all ages, from all walks of life and across diverse verticals and industries. These Unaudited Financial Results further reflect the Bank’s strength and capacity to sustain its legacy in the decades to come.
Other key profitability and efficiency metrics that further underscore the Bank’s performance, as recorded in the H1 2025 Unaudited Results, include a 60.40% growth in Return on Average Equity (ROAE), 4.64% growth in Return on Average Assets (ROAA), 13.68% growth in Capital Adequacy Ratio (CAR) and 47.55% growth in Cost-to-Income Ratio.
-
society5 months agoRamadan Relief: Matawalle Distributes Over ₦1 Billion to Support 2.5 Million Zamfara Residents
-
Politics2 months agoNigeria Is Not His Estate: Wike’s 2,000‑Hectare Scandal Must Shake Us Awake
-
society4 months agoBroken Promises and Broken Backs: The ₦70,000 Minimum Wage Law and the Betrayal of Nigerian Workers
-
society3 months agoOGUN INVESTS OVER ₦2.25 BILLION TO BOOST AQUACULTURE