NUMANA - Città Ideale all ex Santa Cristiana di Marcelli, siamo al punto di svolta. Dopo cinque tentativi andati deserti, l asta giudiziaria chiusa la scorsa .
NUMANA - Città Ideale all’ex Santa Cristiana di Marcelli, siamo al punto di svolta. Dopo cinque tentativi andati deserti, l’asta giudiziaria chiusa la scorsa settimana ha.
By Emeka Anaeto
Nigerian money market interest rates are on the rise. This marks the end of the long (over a year) decline trend. But what next?
Industry analysts at Coronation Merchant Bank, offer some insights, thus: ‘‘In our view the key determinants are how the 2021 budget deficit will be financed and how normal (given that the present interest rate/inflation mix is not normal) the Central Bank of Nigeria (CBN) wants interest rates to be.
‘‘Two weeks ago, we asked whether the CBN wanted to put a floor under market interest rates. Now we have an answer, namely that the effect of the CBN’s Special Bills issue (bills granted to banks in respect of their excess cash reserve ratio held by the CBN), with a yield of 0.5%, has been to support interest rates.’’
Vanguard News
SunTrust Bank boosts SMEs with N23.96bn loan
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By Peter Egwuatu
In its commitment to make the growth of the small and medium scale enterprises (SMEs), its primary focus, SunTrust Bank gave out a whopping N23.96 billion as loans and advances to the sector in 2019.
This information was contained in the bank’s annual report, made available to newsmen over the weekend.
The chairman, Olanrewaju Shittu, while addressing the shareholders at the bank’s fourth Annual General Meeting, AGM held in Lagos, noted that despite the challenges of the year under review, SunTrust Bank was still able to increase its balance sheet by 24.61 per cent from N43.97 billion to N54.79 billion.
Vanguard News
AACN inaugurates new exco, as Biodun Adebimpe emerges president
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Association of Asset Custodians of Nigeria (AACN), the umbrella body for Nigerian custodian banks, has inaugurated a new executive committee to manage its affairs for the next two years.
Following the elections, Mr. Biodun Adebimpe; head of Custody Services at Rand Merchant Bank Nigeria, was elected President of the association, taking over the helm from Mrs. Taiwo Sonola.
Babatunde Majiyagbe of Stanbic IBTC Bank Plc, hitherto the Publicity Secretary, was elected Vice President, while Henry Adejoye of Zenith Nominees Ltd emerged as General Secretary.