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Zenith declares N129.6bn profit after tax for 2016

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Zenith International Bank Plc has declared a profit after tax of N129.65 billion and a final dividend of N1.77 per share for the financial year ended December 31, 2016.

This is contained in the company’s audited report released by the Nigerian Stock Exchange (NSE) on Monday in Lagos.

The News Agency of Nigeria (NAN) reports that this was in contrast with N105.66 billion posted in the preceding period of 2015.

The profit represented an increase of 22.7 per cent when compared with figures for 2015.

Its profit before tax stood at N156.75 against the N125.63 billion declared in 2015.

The bank’s gross earnings grew by 17.4 per cent to N507. 99 billion compared with N432.54 billion recorded in 2015.

Its non-interest income increased by 45.9 per cent to N25.59 billion due to an 809 per cent increase in foreign exchange revaluation gains of N25.6 billion, this however, declined by 10 per cent from the N8.2 billion reported in nine months of 2016.

The impairment loss on financial assets rose significantly by 106.4 per cent to N32.35 billion in 2016 and 34.6 per cent based on quarter-on-quarter to N10.2 billion in the fourth quarter of 2016.

NAN reports that the board of directors proposed a final dividend of N1.77 per share to all its investors against a final dividend of N1.55 per share paid in 2015.

The bank had earlier in 2016 paid a sum of 25k as interim dividend, bringing the total dividend in 2016 to N2.02 per share against N1.80 per share declared in 2015.

 NAN also reports that Zenith Bank is the first bank to declare its 2016 audited result.
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Zenith Bank Unveils SME Digital Workshop For Business Owners, Partners Facebook + How To Register

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Foremost financial institution, Zenith Bank Plc is organizing a free one-day session for SMEs on how Facebook, Instagram, Whatsapp, and other digital channels can be used to engage potential prospects, market offerings and grow business volumes.

To register attendance, please send an email titled ‘Zenith Bank SME Digital Workshop’ to smepartnership@zenithbank.com.

The email should contain the following information: Name of the participant, account number and preferred venue of attendance

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UBA Deepens Intra-African Trade With UBA Connect

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United Bank for Africa (UBA) Plc, has introduced  UBA Connect, a service that enables the   customers of the bank to conduct traditional banking transactions at any UBA branch in the 20 African countries where the bank operates.

The service, which is available to both customers and non-customers alike, is expected to encourage intra-African trade, as cash withdrawal can now be done in local currencies within the continent while deposits can also be made at any location regardless of where the account is domiciled.

The Chief Executive Officer, UBA Group, Mr. Oliver Alawuba, who spoke about the product, said, “Africa stands to benefit substantially from intra-Africa trade, which is facilitated by the easy flow of capital within the continent. As a bank committed to creating superior value for all its stakeholders, we are focused on ensuring that we continue to contribute significantly to the development of Africa by improving accessibility and trade with UBA Connect, among other innovative services.”

He explained that the new offering allows easy transfers to UBA accounts across African countries as well as cash deposit into UBA accounts at any of the bank’s locations in Africa, adding that the cash will be dispensed to customers in local currencies at competitive exchange rates.

Group Head, Marketing, Mrs. Dupe Olusola, said, “We’re thrilled to be able to offer our customers the ease and convenience of UBA Connect. This is in addition to an array of digital platforms which have made banking seamless for more than 12 million people who have trusted us with their money.

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Fidelity Bank Presents Prizes To Promo Winners

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Fidelity Bank Plc on Monday gave out cash and gift prizes to winners in its ongoing Get Alert in Millions (GAIM) promo Season 4  promo held in Lagos.

Two customers, Omolade Olatawura and Isabella Chekwube received N1 million each.

At the prize presentation held at the Ska Tinubu branch of the bank, Victoria Island, Lagos, Managing Director/CEO, Nnamdi Okonkwo, noted it is the bank’s ninth promo in 13 years.

Okonkwo, represented the Executive Director, Shared Services and Products, Chijioke Ugochukwu, added that the bank is improving people’s living standard.

Thirteen  customers of  the bank last week, emerged millionaires in the third monthly draw of the GAIM promo Season 4 in Lagos.

The bank also rewarded loyal customers with prizes worth N16 million in the categories of N2 million and N1 million. The bank presented consolation prizes in form of fridges, television sets and power generating sets to winners who were happy with the gesture.

The presentation  was witnessed by the relevant regulatory bodies, including the National Lottery Regulatory Commission (NLRC), Lagos State Lotteries Board (LSLB) and Consumer Protection Council (CPC).

They include Dare Abiodun Emmanuel; Ugwu Philomena Nneka; Chinenye Catherine Olunna; Egberi Agbarha Kelvin; Ivang Stanley Oham; Chinelo Loveth Egbuchunem; Dare Abiodun Emmanuel; Itabiyi Gbolahan Olakunle Hassan & Adejoke Jokotade; Larei Chindo; Chigozie Darlington Emoka; Khadijah Umar; Muazzam Ad Maizare; Isabella Chekwube Uche; and Omolade Bamitale Olatawura.

Others are Joseph James Abah; Oghenetega Emmanuel Erus; Blessing Chidinma Okafor; Loveline Uche Okonkwo; Nafisat Ali Lawal; Comfort Ita Asuquo; Mohammed Halima Sadiya, among others.

The Regional Bank Head, Victoria Island branch, Chinwe Iloghalu, said: “We have had the GAIM promo for 13 years and we are already creating millionaires in 2020 and this is such a big win for Fidelity Bank. The objective of this promo is to deepen the savings culture and improve domestic businesses and so far we will always remain that bank that keeps to its word.”

Shedding light on how customers could qualify for the draw, Head, Savings Group, Fidelity Bank, Janet Nnabuko, stated that existing and new customers could win by topping their account with N10,000 or opening a new account and building it up to N20,000.

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