Unity Bank Plc has announced a Total Assets size of N476.15bn for the the quarter ended 30 September 2016 representing an increase of 7.4% or N32.6bn over N443.3bn recorded as at 31 December, 2015.
According to the company’s filing with the Nigerian Stock Exchange (NSE), the Bank grew Customer’s Deposit to N263.91bn at the end of the quarter ended September, 2016 indicating an increase of N32.5bn or 14% from N231.4bn as at 31 December 2015; a development that analysts have interpreted as a measure of customers’ growing confidence and increased business momentum.
Furthermore, the various cost optimization strategies and other operational overhauls which were embarked upon by the new Management of the Bank saw operating expense plumet by 14% or N3.1bn to N19.6bn against N22.8bn recorded in Q3/2015.
Overall, the Bank posted a PBT of N3.8bn for Q3/2016, despite the challenging operating environment and economic headwinds. The posted PBT for Q3/2016 was lower than the corresponding Q3/2015 of N10.3bn.
While commenting on the result, the MD/CEO of Unity Bank Plc, Mrs. Tomi Somefun noted that “economic headwinds stifled business growth during the period accompanied by increased inflation and foreign exchange illiquidity. Nevertheless, the Bank remains firmly committed to delivering value to our stakeholders as the Bank made profit on the back of an efficient balance sheet and cost containment initiatives”.
In addition, she emphasized that the Bank has continued to maintain and sharpen its focus on executing strategic choices aimed at creating a large diversified bank with a strong retail/SME base, development of array of products and consolidating market confidence to boost its growth trajectory”.
According to analysts, with the Bank’s repositioning efforts and consistent focus to tap into the emerging opportunities in the enlarged financial services space within Nigeria, Unity Bank is poised to deliver quality banking services to emerging sectors in Retail/Small and Medium Enterprises, Commercial and the Agricultural value chain. The Bank currently has over 240 branches spread across all the six geo-political zones of the country and leveraging on its e-banking platforms and other delivery channels to meet customers’ expectations.
The Bank is said to be building strong infrastructure for retail banking and the ongoing transformation initiatives will surely consolidate Unity Bank as a retail bank of choice, culminating in superior financial performance and value to all stakeholders.
Fidelity Bank Hosts National Capacity Building Webinar For SMEs
Fidelity Bank Plc, a top Nigerian lender is set to organize a National Capacity Building Webinar For Small Medium Enterprises (SMEs) in the country. The programme is part of deliberate efforts to assist entrepreneurs across all sectors of the Nigerian economy to develop a requisite capacity to unlock their full potentials and take their businesses to the next level of growth.
Targeted specifically at existing businesses operating in critical sectors of the economy including trade and commerce, manufacturing, hospitability, education, entertainment, transportation, and agriculture, these virtual sessions will take place across the country on a state-by-state basis, with the maiden edition slated for Enugu State on January 27, 2021, by 10 am.
The Enugu event is organized in collaboration with the Enugu State Ministry of Trade and Commerce and the Enugu SME Centre; Small and Medium Enterprises Development Agency of Nigeria (SMEDAN); Nigeria Association of Small & Medium Enterprises (NASME) and Enugu Chamber of Commerce, Industry, Mines, and Agriculture (ECCIMA).
Themed “Funding and Financial Management”, the Enugu Edition will have in attendance special guests including Mrs. Monica Ugwuanyi, First Lady, Enugu State, Sir Robert O. Anwatu, Managing Director/Chief Executive Officer, Roban Stores, and Mr. Chiedozie Atuegwu, Director, Michelle Laboratories Limited.
Other discussants billed to the participants in the webinar are subject matter experts with respect to funding and financial management for SMEs as well as model entrepreneurs who will share their success stories with participants.
As a financial brand unswerving in its quest to develop the Nigerian economy, the SME Webinar seeks to help the participating MSMEs grow their businesses by educating them on the best measures to take in managing their finances, improving their sales and developing their business in general.
Speaking on the event, Fidelity CEO, Mrs. Nneka Onyeali-Ikpe said, “The programme underscores our long-running support for the growth of small businesses which stems from our recognition of MSMEs as critical agents of economic development and transformation in Nigeria and the world at large.
According to IOnyeali-Ikpe, the session aims at providing practical information, skills, and resources to help entrepreneurs become better managers of their businesses. The Bank has embarked on virtual SME-based events, to adhere to the social distancing guideline essential to promoting the safety of every participant in view of the COVID-19 pandemic.
Interested participants are required to click – https://www.fidelitybank.ng/
Zenith Beta Life Promo Is Still On!
Africa Fintech Foundry To Boost Innovation And ‘Techpreneurs’ With 2021 ‘Accelerator’ Programme
Africa’s foremost innovation hub, the Africa Fintech Foundry (AFF), has opened up its registration portal for the 2021 Accelerator program.
The initiative, which is being executed in partnership with Access Bank Plc, seeks to fast-track the growth of the best start-ups operating within the African technology ecosystem. The ‘Accelerator’ programme will fast track and assist the selected start-ups to navigate issues such as start-up pricing and competitiveness, creating endearing customer experiences, support and retention, hiring and people management, scaling for growth and product development cycle fundamentals amongst others.
Speaking at the launch of the initiative, the Head of the Africa Fintech Foundry, Daniel Awe, said, “Research has shown that 90% of start-ups fail due to various reasons such as lack of funding, being in the wrong market, a lack of research, misaligned partnerships, ineffective marketing, and poor competitive positioning to name a few. 90% is a high percentage rate of failure. This indicates that many things need to go right for a business to succeed. Enabling start-ups to grow, scale and remain relevant in the tech space is where we play a major role as AFF.”
“Since its establishment, the Africa Fintech Foundry has progressively demonstrated leadership in the areas of innovation, financial technology, and entrepreneurship. We recognize the vast array of talent possessed by Africans and the wider global players and the immense potential that our technological start-ups have.
Hence, through the Accelerator programme, we will be providing cohorts with mentorship and clinic hours from leading entrepreneurs, investors, and industry experts. They will also get access to funding, unrivaled business insights, access to markets, and networking opportunities with our partners at various stages of the program,” he said.
The AFF Accelerator programme will span 12 weeks, with formal and informal mentorship from established founders, investors, and pioneers across various industries.
Ade Bajomo, Access Bank’s Executive Director for Information Technology and Operations, highlighted the need for increased corporate investment in tech-focused capacity building initiatives. He said “Technology can serve as the catalyst for solving many of the problems faced across various industries. We also believe that it holds the potential to resolve social and economic challenges faced across the African continent. Therefore, as Africa’s gateway to the world, we have partnered with the continent’s leading accelerator, the Africa Fintech Foundry, to create a platform that will nurture the brightest minds, providing them the needed resources to develop and scale their projects, to the benefit of all.
Start-ups to be considered for admission into the programme include those that: have a tech-enabled solution; offer a unique solution or unique application in a regional setting; have a cross-functional team with a deep understanding of the market – which includes technical lead(s) and founder(s) that are fully committed to the business; have a defensible position (IP; network effects; domain or region expertise); have been in operations for at least 6 months, amongst others.
Interested participants can visit www.africafintechfoundry.com for more information. Those who meet the required criteria will be required to fill an online application. Entry deadline has been disclosed as Saturday, 31 January 2020.
BIG STORY9 hours ago
IGP Orders Probe Of Apostle Suleman For Allegedly ‘Sleeping With Pastor’s Wife’ [VIDEOS]
BIG STORY16 hours ago
Igangan/Fulani Crisis: Town Presents Evidence, Alleges Herders Collected N50m Ransoms, Raped 15 Women
BIG STORY2 days ago
Arresting Igboho Will Escalate Tension, Fayose Tells IGP, Makinde
BIG STORY15 hours ago
Tinubu Returns To Nigeria After One-Month Absence [PHOTOS]
BIG STORY2 days ago
Sanwo-olu Commissions 110-Bed Maternity Home, Housing Scheme In Badagry [PHOTOS]
BIG STORY2 days ago
Stop Threatening Us With War, It’s Insulting And Arrogant —- Afenifere Hits Back At Arewa Forum