Nigeria’s four largest banks will boost their domestic market share, leaving smaller rivals behind, following an audit by the Central Bank of Nigeria (CBN) of lenders operating in the country, Renaissance Capital (RenCap) said.
First Bank of Nigeria Plc, Zenith Bank Ltd., United Bank for Africa Plc (UBA) and Guaranty Trust Bank Plc (GTBank) may emerge from the crisis with a combined 54% market share “over the next couple of years” from 35%, Kato Mukuru, RenCap’s Lagos-based Banking Analyst, said in a note to clients. Read the rest of this entry »
As an indication of optimism in the market, leading companies like Ecobank, Halliburton, and Total will be congregating in London to secure talented professionals for their operations across Africa at the Careers in Africa Recruitment Summit from 30 October to 1 November.
Skye Bank, one of the top 10 banks in Nigeria, has undertaken to implement the SAS Money Laundering Detection solution across its organisation. Skye Bank is one of the industry leaders in Nigeria. It is a publicly quoted company with over 500,000 shareholders, and operates out of over 250 branches and transaction centres across Nigeria, serviced by over 6,000 professional bankers and business experts with a N1 trillion ($7 billion) balance sheet.
After wowing the world with their recapitalisation exercise, Nigerian banks quickly fell into bad habits and a stock market bubble swiftly followed. However, some of them are beginning to see the light.
