9ja Headline Habour

 Ecobank wins coveted Euromoney award as Africa’s Best Bank for SMEs The renowned Euromoney Awards for Excellence have named Ecobank, the top pan-African banking group, Africa's Best Bank for SMEs (small and medium-sized enterprises) for the second year in a row. Ecobank previously took home the title in 2022. Jeremy Awori, Chief Executive Officer, Ecobank Group, said: “This award reflects Ecobank’s absolute commitment to supporting African SMEs and our continuous suite of innovations – financial and non-financial – to spur their growth and success.  We aim to be the bank of choice for Africa’s SMEs. Undoubtedly, these SMEs are the key drivers for Africa’s economic growth, as they create jobs, generate prosperity while eliminating poverty across the continent.” The single African market of the AfCFTA is supported by the Ecobank Single Market Trade Hub. In addition to offering access to Ecobank's complete suite of trade facilitation products and solutions (including trade financ

 Ecobank excels at DBN Awards, wins three awards Eco bank Nigeria won three prominent awards, signifying its’ support for MSME’s in Nigeria, at this year’s Development Bank of Nigeria (DBN) Annual Service Ambassador Awards ceremony held in Lagos recently. The bank bagged the following strategic awards, which include: Platinum Service Ambassador; Bank with the Highest Impact on Women Issues; and Bank with the Highest Impact on MSMEs Accessing Credit for the first time. The DBN Ambassadors Programme was designed to increase the sense of ownership among participating financial institutions, build capacity, increase on-lending to micro, small, and medium-scale enterprises (MSMEs), and ultimately deepen financial inclusion in Nigeria. Ecobank is a participating financial institution in partnership with DBN to provide credit facilities, credit guarantees, and technical support to MSMEs. Receiving the awards at the event, Deputy Managing Director, Ecobank Nigeria, Carol Oyedeji, said this was

 Polaris Bank pledges support for infrastructure development, housing, education, healthcare, and agriculture in Ogun State.  Polaris Bank pledges support for infrastructure development, housing, education, healthcare, and agriculture in Ogun State. L-R: Chinwe Iloghalu, Polaris Bank’s Executive Director, Lagos & Corporate Banking; Adekunle Sonola, Polaris Bank’s Managing Director/CEO; Governor Dapo Abiodun of Ogun State; and Tokunbo Talabi, Secretary to Ogun State Government, when the Polaris Bank Executive Management team paid a visit to the Ogun State Governor in his office in Abeokuta recently. Lagos, Nigeria: November 8, 2023 Polaris bank, Nigeria’s leading digital retail bank, has pledged to support the development of high-impact sectors including road infrastructure, housing, education, healthcare, and agroprocessing in Ogun State. The Managing Director/CEO of Polaris Bank, Mr. Adekunle Sonola, stated this while speaking with journalists after he led the bank’s management te

 Dangote Refinery Receives Its Maiden Crude Cargo In a major step towards boosting Nigeria’s domestic refining capacity and attaining energy security (self-sufficiency), Dan gote Petroleum Refinery  and Petrochemicals plant has purchased 1 million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO), one of the largest trading companies in Nigeria as well as globally, trading over 8 million barrels of crude oil per day. The STASCO cargo contained 1 million barrels from Agbami and sailed to Dangote Refinery’s Single Point Mooring (SPM) where it was discharged into the refinery’s crude oil tanks. The maiden 1 million barrels, which represent the first phase of the 6 million barrels of crude oil to be supplied to Dangote Petroleum Refinery by a range of suppliers, should sustain the initial 350,000 barrels per day to be processed by the facility. The next four cargoes will be supplied by the NNPC in two to three weeks and the final of the si

 2023 9M: Ecobank sets to surpass 2022 performance, while Nigerian business continues to trail. Ecobank Transnational Incorporated has recorded a commendable 9-month performance and is likely to beat its 2022 5-year record performance. In addition to its commendable overall performance, the bank’s share price presents a compelling investment opportunity. It is attractively priced, boasting a lower price-to-earnings ratio compared to other sectors. Despite these positive indicators, its Nigerian business is still trailing behind other geographic regions in performance, although the 9M 2023 results indicate it will likely outperform its 2022 results. Ecobank  Transnational Incorporated (ETI) has disclosed a significant 55% year-on-year increase in profit before tax, amounting to N262.171 billion, as indicated in the audited financial statements seen by Nairametrics. This figure not only reflects a remarkable increase but is also noteworthy as it stands 14% higher than the full-year figur

 Ecobank grows earnings to N1.21tn By September 2023, Ecobank Group's gross earnings had increased to N1.21tn from N761.29bn at the end of September 2022, a 59% increase  This was mentioned in the Audited Consolidated Financial Statements for the quarter ending September 30, 2023, which were submitted on Thursday to the Nigerian Exchange Limited. Due to an external audit of its Q3 financial results, Ecobank had to postpone filing its financial reports. The Board and Management of Ecobank Transnational Incorporated announced their decision to conduct an audit of the Ecobank Group's third-quarter financial results in 2023 in the notice of delay that was submitted with the NGX. The banking institution stated in its Q3 results, which were released in US dollars and Nigerian Naira, that although its total earnings increased in Naira, they decreased by 15% to $2.084 billion in US dollars. Operational income, or revenue, increased by 12% to $1.518 billion and by 55% to N884 billion. T