FCMB Asset Management Limited, the Asset Management arm of FCMB Group Plc, has been assigned an Investment Manager rating of BBB+(IM) by Agusto & Co., a foremost pan-African rating agency.
FCMB Group Plc is one of Nigeria’s leading financial institutions.
According to Agusto & Co.: “The rating reflects the Manager’s well-established process for generating good quality research, experienced & qualified decision-making committees, member of an established financial services group with an operational track of over 30 years.”
The firm was established in 1997 to provide portfolio management and investment advisory services to individual and institutional investors, globally.
The company is a wholly-owned subsidiary of CSL Stockbrokers Limited, a member of FCMB Group Plc.
Speaking on the firm’s new credit rating, the Chief Executive Officer of FCMBAM, James Ilori, said: “The company rating assigned to FCMBAM by Agusto & Co is another demonstration of our commitment to running a professional and transparent organization. We remain focused on providing international standard fund management solutions that cut across asset classes, markets, and currencies. We thank our stakeholders for trusting us to meet and exceed expectations and restate our commitment to creating value for all.”
FCMB Asset Management Limited currently manages four mutual funds – Legacy Money Market Fund, Legacy Debt Fund, Legacy Equity Fund, and Legacy USD Bond Fund.
In addition to the four collective investment schemes, FCMB Asset Management offers clients discretionary and non-discretionary portfolio services, as well as execution-only mandates.
FCMB Asset Management Limited prioritizes the delivery of international standard investment management services aimed at meeting investors’ investment goals in terms of capital preservation, income-generation, and capital appreciation.
Millionaires Emerge In UBA Savings Promo As 10 Customers Win N1m Each
Pan African financial institution, United Bank for Africa (UBA) Plc, has rewarded 10 of its loyal customers with a total sum of N10m in the quarterly draws of the ongoing UBA Savings Promo.
This promo, which is held every quarter, is intended to appreciate loyal customers of the bank, who have stayed with the bank over the years, and offers fresh opportunities for potential and intending customers to join the growing number of UBA millionaires who have in the past benefitted from several Promo.
The virtual and transparent electronic draw which was held on Friday was transmitted live via zoom and the Facebook platform in strict compliance with social distancing rules as directed by the Federal and Lagos State Government.
UBA’s Head Personal Banking, Osita Ede, who addressed participants just before the draws, said there is no better time to give back and delight customers than this challenging economic period where people need all the support, they can get to make life more meaningful.
He said, “As a bank, UBA has been rewarding customers, we have been doing this for several years now; from the Wise Savers Promo, Bumper Draws, and now this. We have been doing this to touch lives and to show appreciation to our customers to tell them we are grateful for their business. This is also an opportunity to reward them for their loyalty to the bank.
Ede added that the promo is also a way of encouraging savings in a bid towards promoting financial inclusion, as statistics show that a lot of Nigerians are still largely underbanked.
“Our key objective is to encourage our customers to save regularly. We are here to support them and encourage them to save and ultimately grow as well because we are aware that they are invaluable to all that we do;” Ede explained.
A representative of the National Regulatory Commission, Peace Ibadie, who witnessed the draws, congratulated the 10 winners and commended the bank for its efforts at rewarding loyal customers, especially in the tough economic and business environment.
“Congratulations to all the winners, I am glad to be a part of this; UBA is always transparent in their promos and we can fully attest to this. It is important that the bank is also actively encouraging the savings culture. Again, I say congratulations,” she said.
The winners who cut across all the zones of the country are Emeka Onyemauche; Ezeigbokwe Oluebube Purity; Omoniyi A Jaiyeola; Olawale Omotayo Idowu; Zaharadeen Yandaki Umar; Aliyu Yaro Bakari; Samuel Enan Esua; Joseph Eze; Deborah Folusho Adebayo and Lucia Chinyere Adim.
When contacted via their mobile phone, the winners expressed their gratitude to the bank as they said the winnings will go a long way in meeting their pressing needs, especially in these trying times.
One of the winners, Samuel Enan Esan, who was delighted at the news that he just won N1m, was full of praises. “Thank you UBA,” he stated.
Aliyu Yaro Bakari. who was extremely excited at the news, said, “Oh I am very happy, UBA is the best, you are the best, thank you very much,” he remarked when he learnt he was also one of the beneficiaries of N1m.
To qualify for the promo, new and existing customers of the bank are expected to make a one-time deposit of at least N30,000; before each draw date. Savings account holders eligible for this draw include Target, Bumper, NextGen, Savings, Teens & Kiddies.
Apart from the savings promo which is held every three months, the bank also has the UBA Bumper Promo which is held monthly, where the first three winning customers are rewarded with N2m, Rent for a year at N1.2m and N500,000 respectively; with 20 others winning N100,000 each as consolation prizes.
United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty million customers, across 1,000 business offices and customer touchpoints, in 20 African countries. With its presence in New York, London, and Paris, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance, and ancillary banking services.
Heritage Bank Partners Road Transport Workers On Insurance Scheme For Travelers
Heritage Bank in partnership with the Road Transport Employee’s Association of Nigeria (RTEAN) has launched the Travelers’ Accident Insurance Scheme (TAIS) to assist road accident victims across the country.
The scheme which was launched on Friday aims to address deaths associated with the inability of travelers involved in accidents to offset hospital bills.
The Regional Executive, Abuja, and North, Heritage Bank Plc, George Okoh-Oboh, speaking at the launch of the scheme in Abuja, commended the thoughtfulness of the Association in coming up with such program to save the lives of accident victims.
He stated that the partnership would help address the road safety crisis due to the tragic loss from a road crash death or severe injury which was compounded by the harm to families, social networks, and national economies.
According to him, the majority of victims are part of the working-age population (between 15 and 64 years old). In fact, road crashes have become the #1 killer of the young worldwide.
He pledged the continued support of the bank in ensuring the success of the scheme.
Okoh-Oboh said, “At Heritage Bank, we believe in this project and we are ready to support it as it seeks to address accidents on the road.
“This project will save lives of many Nigerians, so we are not just here to see what comes in but we are here to add value and ensure that it succeeds.”
The National President of RTEAN, Musa Muhammed in his remarks said that the scheme aims at promoting the welfare of passengers while ensuring security for passengers’ property.
He explained that the scheme would provide support to passengers who may be involved in accidents at the course of their journeys.
“This scheme covers all Nigerians involved in accidents that require medical attention while on a road trip.
“This is part of an effort to assist and improve the Nigerians transport system,” he added.
According to him, the scheme will cover only parks owned and operated by members of the Road Transport Workers Association.
He further stressed the need for the government to deepen investments in road infrastructure while ensuring security along the major road.
Nicholas Tofowomo, Senator representing Ondo South Senatorial District of Ondo State at the 9th National Assembly, urged transporters to ensure that workers are properly licensed and vehicles insured.
This, he noted, would ensure the effective implementation of the scheme.
Goodbye Grobank, Hello Access Bank South Africa
Following the completion of all regulatory procedures, Grobank Limited has been officially renamed Access Bank South Africa Limited. The deal was finalized after Access Bank’s acquisition of controlling shares in the former Grobank Limited, South Africa.
With this new development, Access Bank South Africa Limited is positioned to deliver a robust banking operation that connects key African markets.
At an official closing ceremony in Sandton on Monday, top executives of the two banks were upbeat about new opportunities for clients, noting that the Bank will continue to support all its stakeholders while opening doors to growth opportunities both in the short and long term.
CEO of Grobank, Bennie van Rooy said, “This is an extremely exciting day for the South African banking industry. Our corporate customers will now have increased access to trade finance, treasury, international payments, and loans through the wider distribution network offered by Access Bank’s presence in the key trade corridors that connect Africa to the rest of the world.
“Banking with Access Bank South Africa means greater security as well as access to more products and services through a best-in-class digital platform, and a full retail banking suite will soon be on offer.”
Herbert Wigwe, GMD/CEO of Access Bank Plc, said: “Today’s ceremony in South Africa seals our commitment to delivering our strategic aspirations of becoming Africa’s Gateway to the World, in line with our vision to be the World’s Most Respected African Bank.
“We look forward to the many opportunities our collective experience and deep understanding of the African market brings to our valued clients, and the journey ahead being one of great promise for our institution and the continent.”