Business

Trust is needed in driving brand success in a competitive environment -Ugo Geri-Robert

Ihesiulo Grace 22 March 2019

Godwin Anyebe The Chief Executive Officer of Kantar Millward Brown Nigeria, Mrs Ugo Geri-Robert has reiterated the importance of trust as a factor in building brand success especially in a competitive environment. While noting that level of trust includes, aspirational, emotional, motivation

Business News

Niger partners Zenith Bank on ICT center

Ihesiulo Grace 11 August 2018 0

Niger State Government and the Zenith Bank of Nigeria Plc have signed a Memorandum of Understanding (MoU) to build 100 capacity Information Technology Centre (ICT). Governor Abubakar Sani-Bello who signed the MOU at the Government House in Minna, the state capital assured that the state government would ensure continuous partnership with bank. A statement signed […]

Banking

Zenith Bank reports 25.5% increase in profit to N47.08bn in Q1

Ihesiulo Grace 23 April 2018 0

Zenith Bank Plc has announced an increase of 25.5 per cent in profit in first quarter (Q1) of 2018 to N47.8 billion as against N37.5 billion reported in first quarter of 2016. The lender’s in its unaudited results to Nigerian Stock Exchange (NSE) on Thursday said, Profit before tax gained 22.2 per cent to N54 […]

Business Headlines

15% profit drop looms in Nigerian banks -Report

Ihesiulo Grace 23 April 2018 0

As Treasury-bill rates continue to fall, while asset yields are trending south, making it almost impossible to re-price liabilities to match, banks operating in Nigeria have been warned to either find other sources of income or face an average of 15 per cent drop in their Profits Before Tax (PAT) expectation for 2018. It is […]

Headlines News

Fayose’s account re-frozen as Appeal court rules in favour of EFCC

Ihesiulo Grace 19 April 2018 0

…as governor’s lawyer appeals at Supreme court The Zenith Bank account of Governor, Ayo Fayose of Ekiti State may have been re-frozen as the Appeal Court sitting in Ado- Ekiti, the state capital, Thursday gave a judgement that Economic and Financial Crimes Commission (EFCC), has the right to freeze and continue investigation of Governor Fayose’s […]

Business Headlines

Access, GTB, Zenith, others boost agric, SMEs with N16.8bn

Ihesiulo Grace 6 April 2018 0

*As CBN directs banks to set aside 5% PAT for scheme * ‘Scheme designed to support FG’s efforts at promoting agro business, SMEs’ Five commercial banks, Access Bank Plc, Guaranty Trust Bank Plc (GTBank), First City Monument Bank Holdings Plc, Stanbic IBTC and Zenith Bank Plc, have supported the Central Bank of Nigeria (CBN)’s Agri-Business/Small […]

Business Headlines

Revealed: How 6 banks boosted lending by N10.4trn in 2017

Ihesiulo Grace 26 March 2018 0

No fewer than six commercial banks accounted for total lending of N10.4 trillion to their customers as at December 31, 2017, representing growth of 0.6 per cent from N10.37 trillion loans granted to customers in 2016. The Deposit Money Banks (DMBs) include Access Bank, Guaranty Trust Bank Plc (GTBank), Ecobank Transnational International (ETI) and Zenith […]

Business

Zenith Bank’s insider abuse hikes to N11.6m in 2017

Ihesiulo Grace 16 March 2018 0

Insider dealing in Zenith Bank Plc increased significantly in 2017, as staff committed 11 fraud and forgeries cases that worth N11.6 million, against reported four staff fraud, forgeries that worth N7.7 million in 2016. In our correspondent findings, customers impersonation fraud and forgeries cases rocked the bank in 2017, followed by staff perpetrate. The lender […]

Business Headlines Money

Zenith Bank’s Non-Performing Loans rise to 4.7% in 2017

Ihesiulo Grace 13 March 2018 0

Due to poor state of the power sector and dwindling global oil prices, Zenith Bank Plc has reported an increase of 1.68 per cent of Non-Performing Loans (NPLs) to record 4.7 per cent bad loans in financial year ended December 31, 2017. The lender had reported 3.02 per cent of N71.37 billion bad loans in […]

Business

Why directors’ investments are low in banks

Ihesiulo Grace 11 September 2017 0

Investigations into how well some of Nigerian Bank directors believe in their organization has revealed that quite a number of them have surprisingly low stakes in the banks they head, leaving investors to wonder how ready, they truly are in improving the fortunes of these organizations. In analyzing the financial positions of six of Nigeria’s […]

Business Headlines

Recession: 13 banks record N241.8bn bad loans–Investigation

Ihesiulo Grace 4 September 2017 0

…Loans repayment default affecting lender-banks …Fitch affirms Nigeria’s sovereign ratings at B+; negative outlook Nigeria’s current economic hardships, especially induced by the recession, is believed to be responsible for the rising bad loans in 13 commercial banks. Consequently, unpaid debts by the banks’ customers accounted for the N230.6billion Non-

Capital Market

Analysts sustain out-performance rating on Zenith Bank’s Q2

Ihesiulo Grace 15 August 2017 0

The second quarter 2017 unaudited result of Zenith Bank Plc has continued to generate positive reactions from the capital market, as cross section of analysts sustain out-performance rating on the first tier bank. The bank, which, as at the close of business last Monday, recorded large volume transaction on its shares justified investor’s commitment to […]

Business Economy Telecoms

Zenith helps 9Mobile out

Ihesiulo Grace 15 August 2017 0

Zenith Bank says it has made a provision of 30 percent on its loan to 9mobile, the country’s fourth largest telecoms company. “We have taken about 30 percent … as a provision which we believe is very prudent as the company is undergoing restructuring to prepare for a new investor,” the bank’s Chief Executive Officer, […]

Capital Market

Zenith bank shares down 4.3% as investors shun 25k interim dividend

Ihesiulo Grace 15 August 2017 0

Three trading sessions after Nigeria’s top tier bank, Zenith Bank plc released its 2017 half year financial results, the bank’s share price have crashed by 4.3 per cent. Daily Times investigations can reveal. Although the top notch lender declared a 25 kobo interim dividend to reward shareholders after it reported a profit after tax increase […]

Banking

Court Strikes Out FG’s TSA Case Against Commercial Banks

Ihesiulo Grace 9 August 2017 0

The Federal High Court sitting in Lagos has struck out a suit filed by the Federal Government against seven leading commercial banks. The FG had previously sought to seek the remittance of the sum of $793,200,000 allegedly hidden with them in contravention of the Treasury Single Account policy instituted by President Muhammadu Buhari in late […]

News Nigeria

Zenith Bank set to decide interim dividend

Ihesiulo Grace 13 July 2017 0

The Management of Zenith Bank Plc is expected to meet on July 26, 2017 and decide on interim dividend payable to shareholders who invested in the financial institution. Zenith Bank’s Company Secretary/General Counsel, Mr. Michael Otu, in a statement, said that the group audited interim Accounts and financial has been filed to Central Bank of […]

Business News

GTB, Access, Zenith set to takeover Etisalat

Ihesiulo Grace 8 March 2017 0

Guaranty Trust Bank, Access Bank and Zenith Bank are set to take over telecommunications firm, Etisalat, over unpaid N541.8billion debt. According to the report, the move follows the failure of the Nigerian Communication Commission (NCC) to broker a peaceful resolution between Etisalat Nigeria and a consortium of banks. The consortium of some foreign and the […]

Business

Zenith Bank’sfund raising announcement elicits market reaction

Ihesiulo Grace 3 March 2017 0

Zenith bank Nigeria Plc having released its 2016 financial year result, followed by release of information on its intention to raise fresh N100 billion capital, continues to trigger market reactions. Daily Times findings showed that mixed reactions have followed the release of two vital information from the bank. Expected to guide investment decisions by shareholders […]

Business News

Zenith Bank records N71.37bn bad loans in 2016

Ihesiulo Grace 2 March 2017 0

Following the poor state of power sector and dwindling global oil prices, Zenith Bank Plc has reported N71.37 billion bad loans in financial year ended December 31, 2016. The lender in 2015 reported N44.89 billion bad loans, 59 per cent increase above 2016 bad loans. With the growth in bad loans in 2016, the lender’s […]

Business Capital Market

‎Zenith Bank to raise N100 billion from capital market

Ihesiulo Grace 1 March 2017 0

Following the release of Zenith Bank’s full year results on Monday, reports reaching Daily Times, discloses the lender seeks additional N100 billion from the capital market if approved by its shareholders. According to the report from Reuters, “Zenith Bank said on Tuesday it would seek shareholder approval next month to raise N100 billion via a […]