Banking | - Part 126

Nigeria’s central bank holds interest rate at 13 pct

Abuja, Nigeria (Capital Markets in Africa):- Nigeria’s central bank held its benchmark interest rate unchanged at 13 percent on Tuesday, stressing the need to preserve foreign exchange reserves that have been depleted in recent months to support a weakening naira. At the last policy meeting before president-elect Muhammadu Buhari takes office in Africa’s largest oil producer on May 29, central bank governor Godwin Emefiele said it was not possible for the regulator to intervene on…

Sub-Saharan Africa banking sector has strong regional growth prospects

Posted on by The Editorial Team

London (Capital Markets in Africa):- Sub-Saharan Africa’s fast-expanding banking sector has strong potential to continue its recent growth trend, boosted by robust economies and widening financial inclusion, Moody’s Investors Service said in a report published today. The report, entitled “Banking – Credit Trends in Sub-Saharan Africa”, is now available on www.moodys.com. Moody’s subscribers can access this report via the link at the end of this press release. The research is an update to the markets…

Moody’s assigns Counterparty Risk Assessments to five Egyptian banks

Posted on by The Editorial Team

Cairo, Egypt (Capital Markets in Africa):- Moody’s Investors Service has today assigned Counterparty Risk Assessments (CR Assessments) to five Egyptian banks. It has assigned CR Assessments of B3(cr) to the government-owned National Bank of Egypt SAE, Banque Du Caire SAE, and Banque Misr SAE; B2(cr) to Commercial International Bank (Egypt) SAE (CIB); and B1(cr) to Bank of Alexandria SAE (Alex Bank). Concurrently Not-Prime (cr) short-term CR Assessments have been assigned to all the banks. This…

Ghanaian bank capital adequacy at 17.9% says IMF

Posted on by The Editorial Team

Accra, Ghana (Capital Markets in Africa):– According to the International Monetary Fund (IMF), the risk-weighted capital adequacy ratio of banks operating in Ghana reached 17.9% at the end of 2014 relative to 18.5% at end-2013 and 18.6% at end-2012; while the banks’ Tier-One capital ratio stood at 15.3% at end-2014, up from 14.7% at end-2013 and down from 16.4% at end-2012. The sector’s core liquid assets were equivalent to 26.8% of total assets at the end of 2014 relative to…

Outlook stable on 74% of bank ratings says Fitch ratings

Posted on by The Editorial Team

London (Capital Markets in Africa):- Fitch Ratings indicated that it upgraded 10 banks globally in the first quarter of 2015, with 90% in emerging markets; while it downgraded 22 banks worldwide, with 64% in emerging economies. It indicated that there were 70 ‘negative’ outlooks on the ratings of emerging market banks in the first quarter of 2015, unchanged from the fourth quarter of 2014 and up from 57 in the third quarter and 59 in the second quarter of 2014. In…

Reserve Bank of Malawi Keeps Policy Rate at 25% as Inflation Ease in April

Posted on by The Editorial Team

LILONGWE, Malawi, Capital Markets in Africa — Reserve Bank of Malawi Monetary Policy Committee (MPC) met on 29 April 2015 to review recent global and domestic economic developments, and decided to maintain the Policy Rate at 25 percent and Liquidity Reserve Requirement (LRR) at 15.5 percent. The Malawi real GDP growth is estimated at 5.4 percent in 2015 from the previous projection of 5.8 percent. The downward revision has been necessitated by a contraction in…

Nigeria’s Wema Bank raising $100 mln Tier II capital to grow loans

Posted on by The Editorial Team

LAGOS (Reuters) – Nigeria’s Wema Bank aims to complete a $100 million Tier II capital raising exercise by the second quarter of this year to fund its growing foreign currency loan portfolio, its chief financial officer said on Thursday. Tunde Mabawonku said the commercial lender also planned to start the process of raising fresh equity capital of between 30 billion naira ($151 million) to 40 billion naira, from strategic investors by the fourth quarter. Mabawonku…

« 1 … 124 125 126 127 128 »