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Experts Task Nigerian Banks on Risk Management

Dec 9

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Risk ManagementFor Nigerian banks to avoid another case of bail-out by the government, there is a need to properly reassess the risks they take, review their risk management systems, and create a value system that is embodied in capacity and character.

This was the view of the Chief Financial Officer/Executive Director, First Bank of Nigeria Plc, Mr Oladele Oyelola, while speaking on the topic “Risk Management: The Tool for Successful Banking in the 21st Century” at the yearly general meeting and bi-annual meeting of the Lagos branch of the Chartered Institute of Bankers of Nigeria (CIBN). Read the rest of this entry »

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African Exchanges Attract Emerging Markets Investors: TradeInvestAfrica Interview with Andre DeSimone, Executive Director, Kestrel Capital

Dec 8

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Kestrel CapitalSub-Saharan African markets are attracting interest from foreign fund managers seeking to diversify risks in their global portfolio. Andre DeSimone, Executive Director at Kestrel Capital tells us why Africa’s stock markets continue to perform remarkably well despite their small size and low liquidity.

The global financial crisis affected African markets resulting in, among other problems, the drying up of credit lines. What is the status now?

As Africa’s financial system was not highly integrated with America’s or Europe’s, it was not so heavily impacted by the global financial crisis. Also, most African countries never experienced the sort of financial, real estate, or consumer leverage that was experienced in the US and Europe, for example. Aside from a few Nigerian banks, generally the banking systems in Africa weathered the storm quite well. In fact, in Kenya, no major bank suffered badly and many, if not most, continued to record positive earnings growth over the past year. So while the days of easy credit may be gone, in places like Kenya credit is still available to creditworthy clients and real estate development continues briskly. Read the rest of this entry »

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First Bank of Nigeria Acquires SAS Risk Management Solution Software

Jul 23

Posted by Staff Writer in News | 1 Comment

First Bank of NigeriaAs African banks strive to meet regulatory trends within the global financial market, First Bank of Nigeria is staying ahead of the pack with the acquisition of a world-class risk management solution from SAS.

A statement from First Bank says the acquisition is mainly to comply with global compliance trends and regulations such as Basel II and for the bank to manage its risk effectively while creating transparency and control within its data. SAS, world’s leader in business analytics software and services, and the largest independent vendor in business intelligence market, will be assisted by its local partner Resourcery PLC Nigeria, in deploying the analytics based regulatory risk solution in the Bank.

First Bank of Nigeria selected the full risk management suite from SAS, a suite currently used by a large number of the world’s banks for their own risk efforts

“By adopting a full risk management suite from SAS we are reinforcing transparency in our business and eliminating compliance and regulatory risks”, says First Bank of Nigeria’s Group Managing Director/Chief Executive Officer, Mr. Bisi Onasanya, adding that “it is important for us to lead the African continent in terms of complying with global standards, and being seen as a bank that takes its business seriously.” Read the rest of this entry »

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