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Finance & Investment

FAAN saves over N500 million due to in-house training -GM

A top official of the Federal Airports Authority of Nigeria (FAAN) has said that the airport authority has been able to save over N500million from  in-house staff training that commenced a year ago. General Manager, training, FAAN, Mr. Nath McAbraham Inajoh who revealed this at just concluded Nigeria Institute of Management, chartered Ikeja chapter member’s week in Lagos said the in-house …

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UBA announces half year financial result of N223bn

Group grows half-year profit by 66%…offers 20 kobo interim dividend UNITED Bank for Africa (UBA) Plc has announced its audited half-year financial results ended June 30, 2017, growing its gross earnings for the period by 34.5 percent to N222.7 billion, as against N165.6 billion reported in June 2016. The group also delivered a sterling profit before tax (PBT) of N57.5 …

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GTBank reports N101.1 billion profit before tax in 2017 half year result

GUARANTY Trust Bank plc has released its audited financial results for the half-year ended June 30, 2017 to the Nigerian and London Stock Exchanges. A review of the half-year performance, shows positive growth across all key financial metrics and improved strategic positioning of the brand. Gross earnings for the period grew by 2% to ₦214.1billion from ₦209.9billion reported in the …

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Lufthansa Group records 60 million passengers in 2017 first half

LUFTHANSA Group in the first half of the year 2017, airlifted around 60 million passengers 17.2% more than in the first half of 2016. The Group in its financial report stated that it has carried more passengers than ever before in the first half of 2017. The seat load factor has reached a historical peak of 79%. The figure was …

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Delta Air Lines reports $172m increase on June Quarter profit

DELTA Air Lines has announced financial results for the June quarter 2017. The airline reported that its adjusted pre-tax income for the June 2017 quarter was $1.85 billion, an increase of $172 million from the same income in the June 2016 quarter, primarily driven by higher revenue. Delta recorded a June quarter 2017 adjusted operating margin of 18.4 percent. Delta …

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Global investors oversubscribe UBA’s $500m Eurobond by 240%

UNITED Bank for Africa Plc (UBA) successfully raised USD500 million, through a debut Eurobond, which was over-subscribed at 240%. The significant investor demand reflects the strong global investor appetite for UBA’s credit and support for the Group’s Pan-African financial services strategy. The Global Offering is a five-year senior unsecured benchmark bond (144A/Reg S) listed on the Irish Stock Exchange and …

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Standard and Poor allots UBA Plc ‘B/B’ ratings, stable outlook

STANDARD and Poor’s (S&P) an international rating agency, has assigned its ‘B’ long term and ‘B’ short term global scale counterpart credit ratings to the United Bank for Africa Plc (UBA). The rating agency noted that UBA’s market position “is supported by its good franchise in the corporate and retail segments in Nigeria as well as geographic diversification, with operations …

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Medview Airline PLC pays dividends to shareholders at first AGM

BASED on the dividends approved by shareholders, Medview Airlines PLC will pay 3kobo per every 50 kobo ordinary share to its shareholders from May 19, 2017 with plans to improve on the figure at the next financial year. The airline on January 31, 2017 enlisted in the Nigeria Stock Exchange (NSE) at 9,750,649,400 units of 50kobo each at N1.50kobo per …

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CBN expels 16 banks from forex market, mulls sanctions

APEX bank, Central Bank of Nigeria (CBN) yesterday stopped 16 Deposit Money Banks from participating in the Small and Medium-scale Enterprises (SMEs)window of the foreign exchange market. This is just as the CBN said all the affected 16 banks that had refused to sell forex to small businesses after accessing over $300m offered to the SMEs’ wholesale forex window since …

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