Ecobank Transnational Incorporated welcomed the acquisition of a 12.5(1) percent minority stake in ETI by Doha-based Qatar National Bank through QNB’s purchase of both ordinary and convertible preference shares. QNB bought the shares from the Asset Management Corporation of Nigeria on the Nigerian Stock Exchange. Following the transaction Ecobank is discussing a strategic partnership with
The innovations by United Bank for Africa, in providing convenient banking platforms for individuals and businesses have received global endorsement and recognition. The Bank has been named the “Best Transaction Bank” from Africa in 2014 by UK based magazine “The Banker”. This is hinged on the Bank’s e-banking platforms that have positively changed the way
The Bank of Tanzania issued a 500/- coin to replace the current 500/- note, which wear off easily. Addressing reporters in Dar es Salaam, BoT’s Director of Banking Service, Mr Emmanuel Boaz, said that the new coin will be in use early October. “Coins are more durable with a longer life span. Due to a
Fiserv has announced that Corillian Online ASP, an online banking solution ideal for small to mid-sized institutions, has been redesigned with a simplified, tablet-inspired user interface. In recognition of the growing number of consumers who are banking from smartphones and tablets, the new user interface is designed to resonate across multiple digital channels. Simple navigation
A review of the result shows positive performance across some key financial indices, in spite of an extremely challenging business environment and increasing regulatory headwinds. Gross earnings for the period grew by 7% to N132billion from N124billion reported for the corresponding year period 2013. Profit before tax at N53.40billion, was a 7% dip from N57.4billion
East African countries introduced various reforms including liberalization of the financial sector about two decades to sustain their economic growth. The countries namely, Tanzania, Uganda and Rwanda have seen huge gains but are paying a price at the expense of banking ethics and professionalism. Before the liberalisation, central banks in the region were custodian of
Ingenico Group, global leader in seamless payment, announced that Banco del Bajío, one of Mexico’s largest banks, will deploy Ingenico’s innovative smart terminals as part of the bank’s nationwide update and expansion of its installed base. As part of that expansion BanBajío has deployed Ingenico countertop and wireless smart terminals across Mexico to offer customers
EthSwitch selected BPC Banking Technologies to create a national retail payments infrastructure BPC Banking Technologies, the leading provider of Open System payment solutions, announces that EthSwitch has chosen SmartVista to power its national switching operations in Ethiopia. SmartVista was selected because of its comprehensive functionality, advanced technology and proven track record in helping payment businesses worldwide
Regional banking solutions provider, Equity Bank Group, has engaged global management strategy firm McKinsey to play a business advisory role in the implementation of the Bank’s 3.0 strategy. On hand to close the partnership agreement at Equity Bank headquarters was Dominic Barton, McKinsey & Company Global Managing Director and Equity Bank Group Managing Director Dr
Standard Chartered Zimbabwe, together with Commerzbank Aktiengesellschaft and Investec Asset Management Proprietary Limited acted as Joint Mandated Lead Arrangers in the recently concluded USD60 million, three year syndicated term loan facility for FBC Bank Limited . The facility carries a comprehensive guarantee from African Export-Import Bank, the regional development bank established to finance and support
