The Alternative Bank Limited (AltBank) has announced a strategic collaboration with FoodBank and Sterling One Foundation to raise approximately N20 million in support of hunger alleviation and educational initiatives. This initiative aligns with the theme of the African Union Summit 2024, "Educate and Skill Africa for the 21st Century."
According to the results, which was issued to the Nigerian Exchange (NGX) today, the bank grew Gross Earnings by 64.9% YoY to N555.83 billion, driven by 81.6% growth in Net interest income which increased from N152.7billion to N277.37 billion. This led to a Profit After Tax of N99.45 billion representing a 112.9% annual growth.
Commenting on the Bank’s commendable performance, Dr. Nneka Onyeali-Ikpe,OON, MD/CEO of Fidelity Bank Plc said, “We closed the financial year with strong double-digit growth across key income and balance-sheet lines. Our performance in 2023 is an attestation of our capacity to deliver superior returns to shareholders despite the difficulties in our operating environment. Profit before tax grew by 131.5% to N124.3bn from N53.7bn in 2022FY, leading to an increase in Return on Average Equity (RoAE) of 26.5% from 15.6% in 2022FY.”
Controversial cross-dresser Idris Olanrewaju Okuneye popularly known as Bobrisky has been sentenced to six months imprisonment without any option fine for abusing the Nigeria currency – naira.
Justice Abimbola Awogboro of the Federal High Court, Lagos, in her sentence, said the judgment will serve as a deterrent to others who are fond of abusing and mutilating the naira.
The editors of Global Finance made the selections after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts worldwide. Factors considered in selecting the top banks ranged from the quantitative objective to the informed subjective. Objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.
Gbolahan Olugbemi, a deputy commissioner of police, has been found dead in his apartment in Ogbomoso, Oyo state.
Olugbemi was said to have left Lagos for Ogbomoso for the Easter celebration. His body was reportedly found dangling from the roof of his living room on Monday.
Prior to his death, he was in charge of the criminal investigation department (CID), Panti, Lagos.
The Association of Corporate & Marketing Communication Professionals of Banks (ACAMB) has assured the banking public that banks in the country have the wherewithal to meet the Central Bank of Nigeria (CBN) recent directives on recapilitalisation of the sector.
The Association in a statement signed and released by its president, Rasheed Bolarinwa on Sunday said ACAMB had always affirmed its support for the CBN’s recapitalisation moves.
Recall that the Olayemi Cardoso-led apex bank had last week issued and released a circular on review of minimum capital requirement for commercial, merchant and non-interest banks over the next 24 months.
