Company Report
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Wema Bank grows profit by 147% to N88.8bn in 2024
Wema Bank Plc has announced N88.8 billion profit after tax in its unaudited financial year ended December 31, 2024, about 147 per cent increase over N35.99billion declared in 2023 financial year. The lender in its unaudited result and accounts on the Nigerian Exchange Limited (NGX) reported N102.1 billion profit before tax in 2024, about 133.8per cent growth when compared to…
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Caverton Offshore Support announces N50.5bn loss in 2024
Caverton Offshore Support Group Plc, yesterday announced its unaudited results for the year ended December 31, 2024 with a loss before tax of N50.53 billion from N12.66 billion loss before tax declared December 31, 2023. From the result and accounts posted on the Nigerian Exchange Limited (NGX), the company announced N43.49 billion, about 834.4 per cent in net exchange difference…
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2024FY: Geregu Power declares 71% increase in profit to N27.4bn
Geregu Power Plc released its 2024 full year audited accounts showing profit after tax rose a whopping 71per cent to N27.4 billion. The power generating company has now reported five consecutive years of profitability as total assets rose to N243.7 billion. The company’s profit surge was on the back of a 65.3per cent surge in revenues in the year under…
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Access Bank wins THISDAY’s ‘Global bank of the year’ award, as Aig-Imoukhuede named ‘Titan of the Year’
Access Bank Plc, the flagship subsidiary of Access Holdings Plc, has been honoured with the prestigious THISDAY Global Bank of the Year award for 2024, recognising its significant impact on the global banking landscape. In addition, Aigboje Aig-Imoukhuede, Chairman of Access Holdings, received the distinguished THISDAY Titan of the Year award for his exceptional contributions to the banking sector in…
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Guinness Nigeria recovers from loss, declares N20.1bn profit in Q2 2024
Guinness Nigeria Plc released its second-quarter(Q2) earnings, revealing a profit before tax of N20.1 billion for the period ending December 31, 2024 from the loss of N8.2 billion reported in the same quarter of the previous year. It is also the first quarterly profit posted by Guinness Nigeria since September 2023, when it reported a profit of N3.8 billion in…
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Seplat Energy named AfriSAFE energy company of the year
Seplat Energy Plc, has been named the Africa Safety Award for Excellence (AfriSAFE) Energy Company of the Year by the organisers of the AfriSAFE 2024 Congress and Award Banquet. The award ceremony which was held in Livingstone, Zambia, had a total of 11,000 nominations in different categories. The event featured the Africa Safety Congress, Tourism, Exhibition, and the glamorous Award…
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Ecobank partners with CreditCorp to offer affordable financing to customers
Ecobank Nigeria has partnered with the Nigerian Consumer Credit Corporation (CrediCorp) to offer affordable and flexible loans to customers. These loans can be used to finance a variety of needs, including paying school fees, rent, maintenance costs, medical bills, car purchase & repairs, asset purchase, and more. The program is available to civil servants and private-sector employees whose salaries are…
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MTN Nigeria raises N42.20bn via Commercial Paper issuance
MTN Nigeria Communications Plc has notified the Nigerian Exchange Limited and the investing public of the successful completion of its Series 15 and 16 Commercial Paper issuance under the Company’s N250 billion Commercial Paper Issuance Programme (CP) where the Company raised N42.20 billion. Company Secretary, MTN Nigeria Communications, Uto Ukpanah stated that the 180-day and 270-day CP were issued at…
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UBA rewards customers with over N41m in final edition of legacy promo
· Promo makes 60 millionaires, gifts N200m United Bank for Africa (UBA) Plc has distributed over N41.8million in prizes to over 100 lucky customers in its just concluded UBA Legacy Promo series. The promo which began last year, was specially designed by the bank to celebrate UBA’s rich legacy spanning over 75 years, as well as its long-standing commitment towards…
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Loan dispute with GHL: Stock price of FBN Holdings jumps by 7.86%
FBN Holdings shares rose 7.86per cent week-to-date (WTD), closing the week ending January 10, 2025, in the green, despite an ongoing loan dispute with General Hydrocarbons Limited (GHL). Despite the ongoing legal battles, FBN Holdings shares still recorded a 7.86per cent gain, closing at N30.20 in the second week of January 2025. FBN Holdings began 2024 at a share price…
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