Access Bank takes business protection bundles to SMEs in North-West

The management of Access Bank Plc revealed that the bank has embarked on a business conversation with its customers especially the Small and Medium Enterprises (SMEs) with a view to support and promote their business engagement through sharing of different business promotion and protection bundles the bank offers.

This was disclosed by the bank’s Deputy Managing Director Mr Victor Etuokwu during the Access Bank cocktails and business conversations held in Kano. According to him, the bank has found it very important to engage and interact with its customers to effectively support its customers, especially the SMEs to achieve success in their businesses.

Similarly, in her remarks the group head of emerging businesses unit of the bank Mrs Ayodele Olojede stated that the bank has developed enough business protection and promotion bundles that will allow for easy ways to grow any SMEs and other businesses adding that there are bundles that allows businesses to access loans of up to N10 million without any collateral.

She further explained that the bank has also introduced and affordable and accessible insurance scheme against different disasters that may affect any business establishment.

However, the North-west regional sales Director of the bank Mr Aminu Inuwa stated that it is apparent that 90% of the world’s economy is being controlled by SMEs as back bones of such economies hence the bank’s commitment to support and promote SME’s activities with different varieties of loans that will enable them grow in their businesses.

LCFE, Heritage Bank, others unlock N445trn commodities ecosystem for economic industrialization

Lagos Commodities and Future Exchange (LCFE), Heritage Bank Plc, Capital Market players and other stakeholders have unlocked the $1trillion (N445trn) commodities ecosystem as avenue to diversify the economy from a crude oil dependent economy to other critical economic sectors.

This was revealed at the historic Commissioning Ceremony and Official Launch of Lagos Commodities & Futures Exchange, with the theme, “New Order, Driving Nigeria’s Economy Through the Commodities Ecosystem,” on Thursday in Lagos.

This feat, according to key stakeholders will catalyze and transform the Nigerian economy to create value, wealth restore growth and build global competitive economy.

Giving his Goodwill message, the MD/CEO of Heritage Bank, Ifie Sekibo, specifically stated that as the Lead settlement bank in partnership with key stakeholders that are critical to the success of this project, it considered the launch of LCFE as huge potential to unlock the opportunities and wealth of the four asset classes- Agriculture, Solid Minerals, Oil and Gas and Currencies.

Hinting on the partnership, Sekibo explained, “the Collaboration between Heritage Bank and LCFE is designed to align the market to transparent price discovery, standardised platform for trading of commodities across defined asset classes and straight through processing to settlement.”

He affirmed that the promotion of investment in commodities ecosystem by Heritage Bank in partnership with LCFE in its various assets traded Agriculture, Solid Minerals, Oil and Gas and Currencies would increase liquidity support from local commodity exportation to boost the race for the $200billion in FX repatriation and reduce the pressure on exchange rate.

Sekibo added that the partnership was one of the many initiatives of the bank’s foundational objectives of wealth creation, preservation, and transfer across generation.

In his address, the Governor of Lagos State, Babajide Sanwo-Olu stated that the successful commissioning of LCFE will better fulfil the catalysts of growth which is to attract cutting-edge ideas and innovation and improve the inflow of financial transactions and great ideas that will enable businesses to flourish.

 

 Access Bank takes business protection bundles to SMEs in North-West

The management of Access Bank Plc revealed that the bank has embarked on a business conversation with its customers especially the Small and Medium Enterprises (SMEs) with a view to support and promote their business engagement through sharing of different business promotion and protection bundles the bank offers.

This was disclosed by the bank’s Deputy Managing Director Mr Victor Etuokwu during the Access Bank cocktails and business conversations held in Kano. According to him, the bank has found it very important to engage and interact with its customers to effectively support its customers, especially the SMEs to achieve success in their businesses.

Similarly, in her remarks the group head of emerging businesses unit of the bank Mrs Ayodele Olojede stated that the bank has developed enough business protection and promotion bundles that will allow for easy ways to grow any SMEs and other businesses adding that there are bundles that allows businesses to access loans of up to N10 million without any collateral.

She further explained that the bank has also introduced and affordable and accessible insurance scheme against different disasters that may affect any business establishment.

However, the North-west regional sales Director of the bank Mr Aminu Inuwa stated that it is apparent that 90% of the world’s economy is being controlled by SMEs as back bones of such economies hence the bank’s commitment to support and promote SME’s activities with different varieties of loans that will enable them grow in their businesses.

Keystone Bank launches ‘Oga account’ for business owners

Keystone Bank Limited has launched a special saving account for business owners tagged: ‘Keystone Apprentice Settlement Savings Account.’

According to the bank, the new account also known as ‘Oga Account’ which was formally launched in Lagos, is ‘aimed at meeting the needs of its customers across Nigeria involved in the apprenticeship system.

The lender noted that the account is a purpose-driven savings account, with zero account maintenance charges, that allows customers who are entrepreneurs, popularly known as ‘Oga’ to save conveniently and seamlessly towards building up funds to settle their apprentice/servant upon the completion of their service.

Speaking at the launch, the Managing Director/CEO of Keystone Bank, Mr Olaniran Olayinka, represented by the Regional Head, Region 1, Lagos and West Directorate of Keystone Bank, Mrs Helen Maiyegun, said: “It is our tradition at Keystone Bank to consistently deliver products and services that support the needs and aspirations of retail businesses and SMEs, which are the economic drivers of growing and emerging economies globally.

“In furtherance of this commitment, we are currently providing capacity training, access to investment, and financial grants of N3 million each, to SMEs in our Keystone Start Up Advantage Program aimed at equipping small business owners with requisite skills and funds required to navigate the infancy stage of their business existence.”

Speaking on the features and benefits of the savings plan, Mr Anayo Nwosu, Divisional Head, Retail, SME and Value Chain of Keystone Bank noted that the plan is positioned to speak to the lifestyle needs of the bank’s customers to encourage them to save towards a goal and build financial discipline.

He added that the product solves a market need that is as old as the Bible, stressing that apprenticeship is African culture.

“The apprenticeship model is a way of thinking about how to finance and invest in human resource entrepreneurial activities to promote economic growth, stability, and sustainable livelihood.”

FBN Holdings records N56.5bn profit

FBN Holdings Plc has recorded a profit of N56.5 billion for the half year ended June 30, 2022.

The profit announced in its unaudited results filed with the NGX, indicated an increase of 48% from N38.1 billion posted in the comparative period of 2021.

It also recorded a profit before tax of N65.7 billion from N45.2 billion achieved in the corresponding period of 2021, an increase of 45.3%.

A gross earnings of N359.2 billion was also reported, representing 22.4% when compared with N293.4 billion recorded in the preceding period of 2021.

Commenting on the result, the Group Managing Director, Mr Nnamdi Okonkwo, said that the company demonstrated resilient performance despite the challenging operating environment.

“The Group remains committed in its transformation drive, which has resulted in stronger balance sheet and better asset quality with non-performing loans closing at 5.4 per cent at H1 2022.

“Similarly, risk management capability remains robust across the Group supporting the drive for enhanced earnings for sustainable capital accretion,” he said.

He said that the company would continue to deliver sustainable value to its stakeholders.

“Our strategic intent remains unchanged in optimising opportunities that drive growth in revenue, profitability, capital accretion and overall operational efficiency that delivers sustainable value to our stakeholders,” Okonkwo said.

The Chief Executive Officer of First Bank of Nigeria Ltd., Dr Adesola Adeduntan, said that the commercial banking group remained focus on executing key initiatives to position the Group for improved profitability in FY2022, amidst a challenging operating and dynamic regulatory environment in H1 2022.

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