Nigerian banks prosper as United Bank for Africa (UBA), Access Bank and Zenith Bank have all registered big increases in revenues and profits, while the national economy continues to struggle. UBA’s financial report, which was released on 27 March, revealed a 22% increase in gross earnings from N315bn ($991m) in 2015 to N384bn ($1.2bn) last year. The bank’s pre-tax profits jumped 32% to N91bn ($286m).
The bank has successfully expanded outside of its domestic market, with operations in 19 African countries, plus the UK, US and France, all contributing to the positive financial results. UBA has 11m customers worldwide.

A spokesperson said: “UBA’s subsidiaries outside Nigeria are increasingly gaining market share, reinforcing the strong and impressive subsidiary contribution to the Group, estimated at one-third of profit in 2016, from a quarter in 2015 financial year.”

The contribution of UBA’s non-Nigerian operations have contributed to the 20% rise in the company’s share price in the twelve weeks between 1 January and the announcement of its financial results. Nigerian banks are now beginning to join those from South Africa, Kenya, Morocco, the UK and France in establishing operations in many different African markets. None as yet, however, can genuinely claim to be Pan-African banks.

http://africanbusinessmagazine.com/african-banker/nigerian-banks-prosper-economy-stalls/

BarometerNG:
Nigerian banks prosper as United Bank for Africa (UBA), Access Bank and Zenith Bank have all registered big increases in revenues and profits, while the national economy continues to struggle. UBA’s financial report, which was released on 27 March, revealed a 22% increase in gross earnings from N315bn ($991m) in 2015 to N384bn ($1.2bn) last year. The bank’s pre-tax profits jumped 32% to N91bn ($286m).
The bank has successfully expanded outside of its domestic market, with operations in 19 African countries, plus the UK, US and France, all contributing to the positive financial results. UBA has 11m customers worldwide.

A spokesperson said: “UBA’s subsidiaries outside Nigeria are increasingly gaining market share, reinforcing the strong and impressive subsidiary contribution to the Group, estimated at one-third of profit in 2016, from a quarter in 2015 financial year.”

The contribution of UBA’s non-Nigerian operations have contributed to the 20% rise in the company’s share price in the twelve weeks between 1 January and the announcement of its financial results. Nigerian banks are now beginning to join those from South Africa, Kenya, Morocco, the UK and France in establishing operations in many different African markets. None as yet, however, can genuinely claim to be Pan-African banks.

I thought naira got no value. Am also making a profit. Its called depreciation

Banks proper, while the masses suffer



Check my signature

Oh.. But we are progressing

shit happens. all the loans amcon took over from those banks that are still outstanding should be returned to the banks. lets see if dem go mk profit

Hmmmmmmmmm

Ok


BTW

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Nigerians Raping Nigeria
I pray God delivers this Country

Why won't they prosper when they squeeze the juice out of the masses in their banky ways.

They milk their customers dry.

That is one of the many abnormalities of the Nigerian econony.

Banks are making jumbo profits through round tripping of foreign exchange and various illegal charges on their poor custimers accounts.

Banks and the telecoms operators are partners in crime.

Courtesy of :

The rich getting richer things

Misleading headline

I thought this thread is about the so called charges they implemented on the deposits.





Anyways check my signature

During recession it's only the business unit that makes profit

Well its not bad. The only thing that pains me is the money ppl are paying over frequent non-retrievable swallowing of atm cards by atm machines of other banks...an act powered by a mindless CBN policy.

That is the beauty of corporate accounting.

Moving data from one column to the other can make a sick company profitable on papers. The same way rating agencies will give a company A+ and the same company goes bankrupt within 3 months. It is a crazy world out there.

Capitalism does more harm than good. It encourages greed, corruption and destroys national values.

Zenith bank who gave staffs option of take half salary get sacked. Is on d list.
It was funny when was in Their DUTSE Alhaji branch where they were doing massive unnecessary luxurious renovation that goes to the tune of tens of million while they are sacking pple.
My observation in the past 3 months is that Nigerians are now take entrepreneurship serious.
There is no more guarantee in paid employment like before. U either take ur financial destiny in ur hand or be thrown out by ur employer wen he fills like. Besides automated machines are now taking people's job just like d banking sector.
There is atm dat dispense money, receive deposits. We have POS. u can transfer fund with ur Fone even without data.
Pls I have a food distribution idea that I need partner for.
Contact me on 08131360160 & I will mail u d business plan. I need sponsor who will get all there capital in 1 year with 30% interest

Beware of sweet mouth talking fellows. There was this man in my area who carried Apc nd buhari go head in 2015 when I saw him this time de man be like bonga. Sold his only car now treking on foot I can't just stop laughing


PDP chop money or dem no chop I still blame APC

My Aboki and Zombie neigbours how market na

Mrchippychappy:
Courtesy of :

why you no wan get sense till now?

ok

Curvy Lady Goes Completely Unclad In Full Body Painting (Photos)

http://www.wapextra.com.ng/19840-curvy-lady-goes-completely-unclad-in-full-body-painting-photos.html

Primusinterpares:
Nigerians Raping Nigeria I pray God delivers this Country

Nigeria was designed this way.... nothing will change

Banks using useless policies to rob us

router123:
Zenith bank who gave staffs option of take half salary get sacked. Is on d list.
It was funny when was in Their DUTSE Alhaji branch where they were doing massive unnecessary luxurious renovation that goes to the tune of tens of million while they are sacking pple.
My observation in the past 3 months is that Nigerians are now take entrepreneurship serious.
There is no more guarantee in paid employment like before. U either take ur financial destiny in ur hand or be thrown out by ur employer wen he fills like. Besides automated machines are now taking people's job just like d banking sector.
There is atm dat dispense money, receive deposits. We have POS. u can transfer fund with ur Fone even without data.
Pls I have a food distribution idea that I need partner for.
Contact me on 08131360160 & I will mail u d business plan. I need sponsor who will get all there capital in 1 year with 30% interest

it's hand work of emefele

This APC government ehn , I tired

Thief corporations

Dont forget the sidekick

Mrchippychappy:
Courtesy of :

all na from forex fraud.

BarometerNG:
Nigerian banks prosper as United Bank for Africa (UBA), Access Bank and Zenith Bank have all registered big increases in revenues and profits, while the national economy continues to struggle. UBA’s financial report, which was released on 27 March, revealed a 22% increase in gross earnings from N315bn ($991m) in 2015 to N384bn ($1.2bn) last year. The bank’s pre-tax profits jumped 32% to N91bn ($286m).
The bank has successfully expanded outside of its domestic market, with operations in 19 African countries, plus the UK, US and France, all contributing to the positive financial results. UBA has 11m customers worldwide.

A spokesperson said: “UBA’s subsidiaries outside Nigeria are increasingly gaining market share, reinforcing the strong and impressive subsidiary contribution to the Group, estimated at one-third of profit in 2016, from a quarter in 2015 financial year.”

The contribution of UBA’s non-Nigerian operations have contributed to the 20% rise in the company’s share price in the twelve weeks between 1 January and the announcement of its financial results. Nigerian banks are now beginning to join those from South Africa, Kenya, Morocco, the UK and France in establishing operations in many different African markets. None as yet, however, can genuinely claim to be Pan-African banks.

sHOTdownHawk:


I thought naira got no value. Am also making a profit. Its called depreciation

How do you mean "it is called depreciation"?

why won't they, when everything is charged back to us customers.

Banking as a customer is expensive in this country.

CBN makes policies for banks because for some reasons known to them, Banks are the backbone of the economy.
Every policy made it to make banks profit.

Daylight robbery at its best.


We have eventually become slaves to capitalism.