First Bank

Friday, May 17, 2024

Court Denies Binance Executive, Tigran Gambaryan Bail


Federal High Court sitting in Abuja has denied the bail application of Tigran Gambaryan, an executive of Binance, a cryptocurrency trading company.

Delivering the ruling on Friday, the presiding judge, Justice Emeka Nwite held that the bail application was rejected after carefully reviewing the document.

Nwite said he resolved that the defendant will jump bail if granted.


Sunday, May 12, 2024

Analysts place “buy” on Fidelity Bank


Highly-rated, independent investment advisory firms have picked Fidelity Bank as a very attractive stock with potential to generate high returns for investors.

Independent investment research reports by many market pundits reviewed at the weekend showed that Fidelity Bank was assigned “buy” ticker, a recommendation to investors to consider the potential attractive returns of the bank.

Saturday, May 11, 2024

AltBank, Sterling One Foundation, Foodbank combat hunger, champion education


The Alternative Bank Limited (AltBank) has announced a strategic collaboration with FoodBank and Sterling One Foundation to raise approximately N20 million in support of hunger alleviation and educational initiatives. This initiative aligns with the theme of the African Union Summit 2024, "Educate and Skill Africa for the 21st Century."

Hassan Yusuf, the Managing Director of The Alternative Bank, unveiled this plan in a press release, highlighting the forthcoming AltWalk event as a pivotal fundraising platform. "Through this initiative, we aim to mobilize contributions from both internal and external stakeholders, reaffirming our commitment to education and societal welfare," stated Yusuf.

Monday, May 6, 2024

Union Bank Achieves Another Milestone; Attains MSECB ISO 27001:2022, 20000-1:2018 and 22301 Certifications

 


Union Bank, one of Nigeria’s foremost and most trusted financial institutions, has announced another significant achievement with its attainment of the MSECB management system certifications in ISO/IEC 27001:2022, ISO 22301:2019, and ISO/IEC 20000-1:2018. 


The Bank was awarded these three noteworthy certifications by MSECB, a leading international provider of audit and certification services, after being rigorously assessed and found to be in accordance with the management system requirements covering Information Security, IT Service Delivery, and Business Continuity standards under the combined Information Management Systems (IMS) standards.

Thursday, May 2, 2024

Residents across India swelter as intense heatwave breaks records

Residents across India grappled with searing temperatures on Wednesday (May 1) as a record-breaking heatwave scorched parts of the country amid a general election.

Eastern India experienced its hottest April on record as the state of West Bengal recorded the most number of heatwave days for the month in the last 15 years, followed by the neighbouring coastal state of Odisha where heat conditions were the worst in nine years.

"Despite our efforts to keep cool by pouring water on ourselves, and on the ground, nothing is working. We can feel steam rising from the ground," said local resident Bharti Das outside her home in a Kolkata slum.

The weather office said rainfall in May is likely to be normal and that it expects more showers during the second half of the monsoon season in August and September as compared to June and July due to the La Nina climate pattern, which typically brings higher rainfall to India.

Fidelity Bank records a 120.1% growth in PBT to N39.5bn in Q1 2024


In line with its upward growth trajectory, leading financial institution, Fidelity Bank Plc, has posted an impressive 120.1% growth in Profit Before Tax from N17.9bn at the end of Q1 2023 to N39.5bn for Q1 2024. This was made known in the Bank’s unaudited financial statements released on the issuer portal of the Nigerian Exchange (NGX) on Tuesday, 30 April 2024.


According to the statement, Gross Earnings increased by 89.9% yoy to N192.1bn from N101.1bn in Q1 2023. The increase was led by a combination of interest income (90.7% yoy) and non-interest income (84.0% yoy). Growth in interest income was primarily spurred by a higher yield environment and strong earning assets base, while the increase in non-interest income was led by double-digit growth in account maintenance charges, FX-related income, trade, banking services, and remittances, supported by increased customer transactions.