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FirstBank commemorates its annual Corporate Responsibility & Sustainability week and promotes kindness across over 7 countries

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FirstBank commemorates its annual Corporate Responsibility & Sustainability week and promotes kindness across over 7 countries

• The FirstBank CR&S Week is a dedicated week designed to offer opportunities for employees to give their time & resources to defined causes in line with the Bank’s CR&S strategic approach;
• The FirstBank CR&S Week is held in Nigeria and 7 other countries: United Kingdom, Ghana, DRC, Guinea, Sierra Lone, Senegal and Gambia;
• Since its maiden edition in 2017, the FirstBank CR&S week in 2017 is fast becoming a household name in the Bank’s host economies.

FirstBank

In furtherance of its continued commitment to impacting the lives of individuals in its host communities across 7 Countries: Nigeria, United Kingdom, Ghana, DRC, Guinea, Sierra Lone, Senegal and Gambia. First Bank of Nigeria Limited has announced the Fifth edition of its Corporate Responsibility & Sustainability (CR&S) week, scheduled for 22- 27 August 2022.

The event which is themed: “Kindness…. A Way of Life” reflects the single-minded purpose to make a difference in the world by inspiring and institutionalising kindness. SPARK is an acronym for Start Performing Acts of Random Kindness and it is a values-based initiative designed to raise consciousness that we can choose to be kind.

 

 

The FirstBank CR&S Week is a dedicated week designed to offer opportunities for employees to give their time & resources to defined causes in line with the Bank’s CR&S strategic approach. The CR&S Week will offer employees opportunities to give their time & resources to defined causes. The Week’s activities are an aspect of the Bank’s Employee Giving & Volunteering Program, which was instituted to encourage employees to give back to the community as well as inculcate in them the integral corporate culture of giving.

The Bank held the maiden edition of the CR&S week in 2017 with a focus mainly on three key initiatives/activities which were giving and visits to orphanages/less privileged homes/IDPs; career counselling day; and Staff Promoting Acts of Random Kindness (SPARK) initiative – which is now Start Performing Acts of Random Kindness. The CR&S week has become more successful in subsequent years and it is fast becoming a household name in the Bank’s host economies.

 

 

 

 

 

 

There are five main activities to be implemented during this year’s CR&S Week in Nigeria, FBNBank UK and across the SSA markets. These activities include SPARK APP, Kind Comments Day, Visits to orphanage/less privileged homes, SPARK School Engagement, and Women Economic Empowerment. The major highlight of the Week will be the launch of the SPARK APP. The app is strategic in the Bank’s journey to institutionalize “A Day of Kindness” on a national level, and globally position the Bank as a Corporate Citizen in leveraging new media to drive sustainability practices.

The SPARK App is a sensational application designed to have individuals abreast with the act of kindness through various kindness-based quotes and inspirational phrases that will be displayed on one’s phone screen, especially when the phone is idle.

 

 

 

 

 

 

Kind Comments Day is an initiative that focuses on inspiring and encouraging everyone to be deliberate with the use of kind words in relating or interacting with anyone.

In addition, with Women Empowerment, the Bank will support, VVF patients in need of surgical operations and also empower them with vocational skills as they integrate back into the society.

 

 

 

 

 

The SPARK Schools Engagement will be implemented through the National Competition of JAN SPARK School Integration. The activity is aimed at rewarding the various participating students, following their SPARK activity, Through the partnership with JAN, SPARK is integrated into the JAN Company Program, where students are taught the values of SPARK. The SPARK schools’ competition has been tied with Company programme regional competition,ensuring they imbibed the values taught during the training. One of the highlights of the event is the visit to orphanage homes and the less privileged, across various cities which will be carried out by volunteers from the Bank.

Speaking on the week, Dr. Adesola Adeduntan, CEO, FirstBank said “The CR&S Week is another opportunity to strengthen our commitment and extend our reach beyond the communities where we operate in Nigeria and across our subsidiaries. Over time, our goal has stayed the same, to create platforms through which our positive impact is felt.”

 

 

 

 

 

“For us in the FirstBank Group, beyond saying that we care, we take a step further and show it,” he concluded.

Through the years of commemorating its annual CR&S Week, FirstBank has impacted lives across its host communities in Nigeria, the United Kingdom and its SSA subsidiaries. These impacts comprise the partnership with Lagos State Government on the provision of a Primary Health Centre at Ijedodo Community, Lagos State; engagements with over 60 charities, Non-governmental organisations, orphanages, correctional centres, schools and Internally Displayed Persons (IDP) Camps which resulted in touching the lives of over 20,000 underprivileged individuals in the society including widows, orphans and children with disabilities.

 

 

 

 

About FirstBank

First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa and the leading financial inclusion services provider in Nigeria for over 128 years.

With over 750 business locations and over 180,000 Banking Agents spread across 99% of the 774 Local Government Areas in Nigeria, FirstBank provides a comprehensive range of retail and corporate financial services to serve its over 30 million customers. The Bank has an international presence through its subsidiaries, FBNBank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, as well as a Representative Office in Beijing.

 

 

 

The Bank has been handy at promoting digital payment in the country and has issued over 10million cards, the first bank to achieve such a milestone in the country. FirstBank’s cashless transaction drive extends to having more than 10million people on its USSD Quick Banking service through the nationally renowned *894# Banking code and over 4.5 million people on FirstMobile platform.

Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership. Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes. With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner.

 

 

FirstBank has been named “Most Valuable Bank Brand in Nigeria” six times in a row (2011 – 2016) by the globally renowned “The Banker Magazine” of the Financial Times Group; “Best Retail Bank in Nigeria” for seven consecutive years (2011 – 2017) by the Asian Banker International Excellence in Retail Financial Services Awards and “Best Bank in Nigeria” by Global Finance for 15 years. Our brand purpose is always to put customers, partners and stakeholders at the heart of our business, even as we standardise customer experience and excellence in financial solutions across sub-Saharan Africa, in consonance with our brand vision “To be the partner of the first choice in building your future”. Our brand promise is always to deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on our inherent values of passion, partnership and people, to position You First in every respect.
Folake Ani-Mumuney
Group Head, Marketing & Corporate Communications
First Bank of Nigeria Limited

Bank

GTCO Plc Releases 2024 Half Year Audited Results

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GTCO Plc Releases 2024 Half Year Audited Results

 

 

 

 

 

……. Reports Profit Before Tax of ₦1.004trillion

 

 

 

 

Sahara Weekly Reports That Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2024, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).

 

 

 

GTCO Plc Releases 2024 Half Year Audited Results

 

 

The Group reported profit before tax of ₦1.004trilion, becoming the first Nigerian financial institution to cross the ₦1trillion mark in profit. This milestone figure represents an increase of 206.6% over ₦327.4billion recorded in the corresponding period ended June 2023. The Group’s loan book (net) Increased by 25.5% from ₦2.48trillion recorded as at December 2023 to ₦3.11trillion in June 2024, while deposit liabilities grew by 39.8% from ₦7.55trillion in December 2023 to ₦10.55trillion in June 2024.

 

 

 

 

 

 

 

 

 

The Group recorded growth across all its asset lines and continues to maintain a well-structured, healthy, and diversified balance sheet across all jurisdictions wherein it operates a Banking franchise as well as across its Payments, Pension and Funds Management business verticals with total assets and shareholders’ funds closing at ₦14.5trillion and ₦2.4trillion, respectively. Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 21.0%, while asset quality was sustained as evidenced by IFRS 9 Stage 3 Loans which closed at 4.3% in June 2024 from 4.2% in December 2023 and improvement in Cost of Risk (COR) to 1.6% from 4.5% in December 2023.

 

 

 

 

 

 

 

 

 

Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: “We are immensely proud of the progress we have made as a leading financial holding company. Despite the uncertainties in the operating environment, our performance in the first half of the year, where we recorded our highest profit to date, is a testament to the resilience and adaptability of our business model. We remain optimistic about the future and are committed to leveraging our unique strengths as a thriving financial services ecosystem to create sustainable value for all our stakeholders as we continue to position all our business verticals–Banking, Funds Management, Pension, and Payments–for rapid growth across key markets.”

 

 

 

 

 

 

 

 

 

 

 

 

Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services industry in terms of key financial ratios i.e., Pre-Tax Return on Equity (ROAE) of 103.6%, Pre-Tax Return on Assets (ROAA) of 16.6%, Full Impact Capital Adequacy Ratio (CAR) of 21.0% and Cost to Income ratio of 16.7%.

 

 

 

 

 

 

 

 

 

 

 

GTCO Guaranty Trust Holding Company Plc is the ultimate holding company of the GTCO Plc Group, one of the largest financial services institutions in Africa. Headquartered in Lagos, Nigeria, Guaranty Trust Holding Company Plc maintains direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom. GTCO’s leadership in the banking industry and efforts at empowering people and communities has earned it many prestigious awards over the years. Guaranty Trust Bank is a Twelve-time winner of Euromoney’s Best Bank in Nigeria award and was recently named Nigeria’s Strongest Brand and Best Banking Brand in Nigeria by Brand Finance and Global Brands Magazine, respectively.

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Unity Bank Projects N27B in Q4 Earnings, Targets N4B Profit

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Unity Bank Records N38.2 Billion Gross Earnings in Q3’23

Unity Bank Projects N27B in Q4 Earnings, Targets N4B Profit

 

Lagos.09.09.2024. Unity Bank Plc has projected gross earnings of N27 billion and a Profit After Tax of N4 billion in Q4, 2024, in its latest earnings forecast released to the Nigerian Exchange Group.

Although the projected gross earnings represent a marginal increase from the N26 billion projected for Q3 2024, the lender continues to maintain a profitable outlook, with pre-tax profit expected at N4.2 billion.

An analysis of the earnings forecast shows that the lender also expects interest income to rise from N23 billion to N24.5 billion, with net revenue expected to rise marginally by 1.0% to N7.2 billion within the quarter compared to N6.5 billion in Q3, 2024.

Net operating income is projected at N12 billion, while cash flow from financing activities is projected to rise to N481.4 billion from N353.6 billion, a 1.3% projected increase on a quarter-on-quarter basis. This projected growth in cash flow from financing activities continues to reflect the lender’s growing liquidity position which is essential for sustained business operations.

The lender said it expects to cover the milestones with a consistent optimistic outlook in its projection, barring any significant changes in the operating environment, under which the assumptions were made. The lender noted that it will continue to deliver top-notch customer-centric products and services, especially in the digital lending space following the roll-out of enhanced platforms and channels for superlative customer experiences.

Analysts are of the view that the Q4 forecast reflects a steady growth trajectory on the back of key performance indicators and strategic repositioning to hedge the challenging market conditions.

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BREAKING! Opay Begins Charging Of N50 Electronic Transaction Fee

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BREAKING! Opay Begins Charging Of N50 Electronic Transaction Fee

 

 

 

 

OPay is set to apply a transfer fee of N50 for transactions exceeding N10,000.

 

 

BREAKING! Opay Begins Charging Of N50 Electronic Transaction Fee

 

 

OPay has introduced a new fee for electronic transfers into both personal and business accounts, in accordance with the regulations set forth by the Federal Inland Revenue Service.

 

 

 

Beginning September 9, 2024, there will be a one-time charge of N50 for transfers of N10,000 or more.

 

 

On Saturday, OPay communicated to its valued customers:

 

“Dear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will be applied for electronic transfer of N10,000 and above paid into your personal or business account in compliance with the Federal Inland Revenue Service regulations.”

 

 

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