Category: Banking

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Wema Bank Plc announces Board meeting.

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Wema Bank Plc has notified stakeholders and the investing public of its imminent Board of Directors meeting, scheduled on April 23, 2021.

This is according to a disclosure signed by the Company’s secretary, Johnson Lebile and sent to the Nigerian Stock Exchange.

The meeting is scheduled to consider the unaudited financial statements of the company for the quarter ended 31st of March, 2021 (Q1, 2021) along with other corporate actions. In line with this, the company will be observing a closed period from 7th of April, 2021 until 24 hours after the unaudited financial statements have been filled with The Exchange.

What you should know:

  • During the close period, no insider of Wema Bank Plc will be able to deal with its shares, whether directly or indirectly.
  • Wema Bank Plc had earlier reported a Profit before tax of N6.96 billion in FY 2020.

For more information about the notice, click HERE.

Fidelity Bank Plc announces 33rd Annual General Meeting.

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Fidelity Bank Plc has announced that it will be hosting its 33rd Annual General Meeting on the 30th of April, 2021.

According to a notice sent to the Nigerian Stock Exchange platform, the meeting will hold at the Africa-Asia Meeting Room at Eko Hotels & Suites, Lagos at 10:00 am. The following will be discussed;

  • The audited financial statements of the company for the year ended 31st December 2020.
  • The proposed final dividend for the aforementioned period will be formally declared and subsequently paid.
  • Appointment into the company’s Board will be duly scrutinized and ratified.
  • The remuneration of board members in FY 2021 will be discussed and ratified. A proposal to pay Non-Executive Directors N20 million each and the Chairman of the Board N27.5 million was muted.
  • The remuneration of the company’s managers and auditors will also be considered and discussed.

What you should know:

  • Fidelity Bank Plc had earlier reported a profit after tax of N26.7 billion for the year ended 31st of December, 2020. Sequel to this, it declared a dividend of 92 kobo per share.
  • In line with CAC guidelines, attendance of the AGM will be by proxy only.

For more information about the AGM, click HERE.

Access Bank Plc announces Annual General Meeting.

Chidi Emenike 1 Comment

Access Bank Plc has announced that it will be hosting its 32nd Annual General Meeting on the 30th of April, 2021.

According to a notice signed by the Company’s secretary, Sunday Ekwochi, the meeting will hold at the Bank’s Head Office at Oniru Estate, Victoria Island, Lagos by 10:00 am. The following will be discussed;

  • The audited financial statements of the Bank for the year ended 31st December 2020.
  • The proposed final dividend for the aforementioned period will be formally declared and subsequently paid.
  • Appointment into the Bank’s Board will be duly scrutinized and ratified.
  • Directors’ fees for FY 2021 amounting to N58.13 million will be discussed and ratified.
  • The remuneration of bank managers and auditors will also be considered and discussed.

What you should know:

  • Access Bank Plc had earlier reported a Profit after tax of N106.01 billion in FY 2020. Sequel to this, the bank proposed a final dividend of 55 kobo.
  • In line with CAC guidelines, attendance of the AGM will be by proxy only

For more information about the notice, click HERE.

Fidelity Bank Plc announces Board meeting.

Chidi Emenike Leave a comment

Fidelity Bank Plc has announced that it will be hosting its Board of Directors meeting on the 26th of April, 2021.

This is according to a disclosure signed by the Company’s secretary, Ezinwa Unuigboje and sent to the Nigerian Stock Exchange.

The meeting is scheduled to consider among other things, the unaudited financial statements of the company for the quarter ended 31st of March, 2021 (Q1, 2021). Sequel to this, the bank will be observing a close period from 6th of April, 2021 until 24 hours after the unaudited financial statements have been filled with The Exchange.

What you should know:

  • During the close period, no insider of Fidelity Bank Plc will be able to deal with its shares, whether directly or indirectly.
  • Fidelity Bank Plc had earlier reported a Profit after tax of N26.7 billion in FY 2020. Sequel to this, the bank proposed a final dividend of 22 kobo.

For more information about the notice, click HERE.

AFRINVEST Limited appoints Onoise Onaghinon as new Chief Operating Officer.

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Afrinvest West Africa Limited has announced the appointment of Mrs. Onoise Onaghinon as its Chief Operating Officer (COO).

This is according to information made available by the firm through its social media handle, as seen by Nairametrics.

As part of her responsibilities, Mrs. Onaghinon will oversee human resources, legal and compliance, internal control and general services, while leading the firm’s initiative to improve efficiency across its subsidiaries.

Profile

Mrs. Onaghinon is a veteran in the Nigerian capital market and investment landscape with over 18 years of experience in capital raising, restructuring, mergers and acquisition. She joined Afrinvest in 2003 as an analyst in the firm’s investment banking division.

In 2017, she took a sabbatical from the firm to head the Public-Private Partnership Agency of the Edo state government. Having acquainted herself creditably in the public sector, she has re-joined the firm as the new COO.

What they are saying: Commenting on the recent development, the Group Managing Director of Afrinvest, Mr. Ike Chioke said: ‘’ Over the years, Mrs. Onaghinon has demonstrated great leadership, professional excellence and outstanding client commitment in driving the firm’s business unit, particularly our investment banking division. We are delighted to have her back and we look forward to leveraging her cross-disciplinary experience across the Afrinvest Group.’’

What you should know:

  • Afrinvest is a leading wealth advisory firm involved in investment banking, securities trading, asset management and investment research with a focus on West Africa.

Sterling Bank Plc posts profit after tax of N11.2 billion in FY 2020

Chidi Emenike 1 Comment

Sterling Bank Plc released its full-year audited results for the year ended 31st December 2020.

  • Net interest income for the year was N62.15 billion. (-3.9% YoY)
  • Net fees and commission income was N13.09 billion. (-10.4% YoY)
  • Operating income was N89.6 billion. (+2.3% YoY)
  • Total expenses of N69.3 billion. (-2.5% YoY)
  • Profit after tax was N11.2 billion. (+6.04% YoY)
  • Earnings per share of 39 kobo vs 37 kobo YoY.
  • A dividend of 5 kobo was declared.

See link to results.

2020 FY: Sterling Bank Plc proposes dividend of N1.44 billion for shareholders.

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The Board of Directors of Sterling Bank Plc has proposed a dividend of 5 kobo for every share of 50 kobo held by shareholders, amounting to a total of N1.44 billion for the year ended 2020.

This is according to a disclosure signed by the Bank’s secretary, Temitayo Adegoke, and sent to the Nigerian Stock Exchange.

According to the notice, dividends will be paid electronically to qualified shareholders’, whose names appear in the Register of Members as at close of trading on 16th of April, 2021.  Other qualifying conditions are;

  • Shareholders must have completed the e-dividend registration.
  • In addition, shareholders must have mandated the Registrar (Pace Registrar Limited) to pay their dividend directly into their bank accounts.

What you should know:

  • The Bank is expected to discuss this proposed dividend in its 59th Annual General Meeting scheduled to hold on 6th of May, 2021 at MUSON Centre, Marina- Lagos.
  • The Bank had earlier reported a profit after tax of N11.2 billion in FY 2020, indicating an increase of 6.04%.
  • The Bank closed trading on 1st of April, 2021 with a share price of N1.85

For more information about the proposed dividend, click HERE.

Access Bank Plc posts N106.01 billion profit in FY 2020.

Chidi Emenike 1 Comment

Access Bank Plc released its full-year results for the year ended 31st December 2020.

  • Net interest income after adjusting for impairment charges was N200.06 billion. (-22.2% YoY)
  • Net fee and commission income of N93.6 billion. (+26.4% YoY)
  • Personnel expenses totaled N73.17 billion. (-4.93% YoY)
  • Profit for the year was N106.01 billion. (+12.7% YoY)
  • Earnings per share of N3.01 Vs N2.79 YoY.
  • Customers’ deposits totaled N5.6 trillion. (+31.3% YoY)
  • A final dividend of 55 kobo was proposed.

See link to results.

2020 FY Results: FCMB posts profit after tax of N19.6 billion.

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FCMB Group Plc released its audited full-year results for the year ended 31st December 2020.

  • Net interest income was N90.76billion. (+19.45% YoY)
  • Net fee and commission income was N19.6 billion. (-5.6% YoY)
  • Personnel expenses was N29.52billion (-0.3% YoY)
  • Profit for the year was N19.6billion. (+13.1% YoY)
  • Earnings per share was 98 kobo(+12.6% YoY)
  • A dividend of 15kobo was proposed by the Board of Directors.

See link to results.