In a significant financial development, the value of savings deposits held in banks across the United Arab Emirates (UAE) rose by 8.4% year-on-year in May 2024. According to the UAE...
Category: Finance
Egypt’s Credit Bureau “Iscore” Unveils New Analytics Platform to Support Banking Sector
Egypt’s credit bureau, Iscore, has launched a new analytics platform designed to revolutionize how banks evaluate and manage their loan portfolios. The “Market Analytical Data” platform aims to provide comprehensive...
Banks Urged to Innovate in Support of Women-Led Businesses
In a recent multi-stakeholder engagement, Dr. Kweku Arthur-Annobil, Business Strategy Manager at Stanbic Bank Ghana, called on banks to find innovative ways to support women-led businesses. This call to action...
Banks Cut Lending as High Rates Increase Defaults
As interest rates continue to rise, banks are becoming increasingly cautious with their lending practices. The Central Bank of Kenya (CBK) has reported a significant increase in loan defaults, prompting...
Central Bank Approves Providus Bank’s Takeover of Unity Bank
The Central Bank of Nigeria (CBN) has officially approved the takeover of Unity Bank by Providus Bank. This strategic move is designed to bolster the stability of Nigeria’s financial system...
3 Strategies for Banks to Boost Deposits Amid Slow Loan Demand
As loan demand slows, banks are seeking innovative ways to increase deposits and maintain financial stability. With interest rates fluctuating and economic uncertainties persisting, attracting and retaining depositors has become...
Commerce Commission’s Final Report on Personal Banking Competition Set for August 20 Release
The Commerce Commission is set to release its final report on personal banking competition on August 20, 2024. This report follows an extensive market study initiated by the New Zealand...
Thailand Moves to Curb Banking Linked to Myanmar’s Arms Trade
Thailand has announced a significant initiative to curb banking activities linked to Myanmar’s arms trade. This move comes in response to a report highlighting the role of Thai banks in...
FX Windfall Tax Sparks Conflict Among Nigerian Banks’ Shareholders and Directors
The recent proposal by the Nigerian government to impose a 70% windfall tax on foreign exchange gains has ignited a significant conflict among the country’s banking sector. While some bank...
E-Payment Transactions Surge: UBA Ranked Most Visited Banking Website in Nigeria
In a significant development for the Nigerian banking sector, the United Bank for Africa (UBA) has been ranked as the most visited banking website in Nigeria. This ranking comes amidst...