NaijaWire » Investments

First Bank opens branch in Paris

admin — Fri, 18 Jul 2008 01:37:45 +0000

Paris - The globalization of the banking sector in Nigeria has received a boost with the grand opening of the first of its kind by any African owned bank, as First Bank Nigeria PLC, through its United Kingdom subsidiary; FBN Bank (UK) Limited, opened a new branch in Paris, the capital of France. By this development the bank has extended its services to France and other French speaking countries in the ECOWAS.

According to a statement from the bank, the inauguration of the Paris branch was … [visit site to read more]

Intercontinental Bank gets go ahead to operate in the UK

admin — Mon, 30 Jun 2008 05:24:51 +0000

London - The Financial Services Authority (FSA) of the United Kingdom (UK) has licensed Intercontinental Bank (UK) Plc, a subsidiary of Intercontinental Bank Plc, as a full-fledged bank offering wholesale banking services in the United Kingdom.

The bank is authorized to perform trade services business, including letters of credits, collections and guarantees. Other aspects of its business include structuring and funding of structured trade and project finance transactions as well as … [visit site to read more]

UBA acquires Liberty Bank

admin — Wed, 25 Jun 2008 05:21:32 +0000

Abuja - The United Bank for Africa Plc (UBA), has completed the purchase of Liberty Bank after the the conclusion of the Purchase and Assumption (P&A) arrangement with the Nigerian Deposits Insurance corporation (NDIC).

Speaking during the handing over ceremony in Lagos on Tuesday, the Managing Director/Chief Executive Officer of NDIC, Mr. Ganiyu Ogunleye, disclosed that with this handing over, UBA has acquired additional N1.7 billion private sector deposit liabilities made up of about … [visit site to read more]

UBA Shareholders approve payment of dividends

admin — Sat, 21 Jun 2008 06:45:25 +0000

Lagos - Shareholders of United Bank of Africa (UBA) Plc has approved the decision of the company to pay an interim dividend and declaration of bonus on its half year audited results for the 2008 financial year.

The company had earlier proposed an interim dividend of N0.25 for every 50 kobo ordinary shares and a bonus of one ordinary share for every two ordinary shares held, based on its performance in the half year financial result.

The shareholders who made this ratification at the … [visit site to read more]

Intercontinental Bank pays shareholders high dividend

admin — Mon, 16 Jun 2008 05:27:22 +0000

Shareholders of Intercontinental Bank Plc, will be smiling to the bank following the bank’s board decision to pay a total dividend of N13.5billion for the 2007/2008 year. This is made up of the N6.3 billion paid to the investors as interim dividend last September and N7.2billion, the bank is proposing to pay as final dividend payout to its shareholders this month.

This translates to 40 kobo per share compared to 35 kobo paid as interim dividend, bringing the total dividend per share for the … [visit site to read more]