Second Pay Rise In 90 Days July 28, 2023/UBA Plc Africa’s Global Bank, United Bank for Africa (UBA) Plc, has reaffirmed its commitment to prioritise the welfare of its staff and their families reflecting the current economic realities and its impact on living conditions. To this end, the bank’s Board […]
Money Market
Weaker U.S. Bank Results to Persist Amid Lower Growth and Rising Costs
July 25, 2023/Fitch Ratings U.S. large and regional bank results for 2Q23 have been broadly weaker on a sequential-quarter and year-over-year basis, largely in line with expectations, Fitch Ratings says. The weaker results reflect rising deposit costs, an uptick in provisions and continued inflationary pressure on non-interest expenses. Based on […]
Nigerian Banks Face Risks from Currency and Fuel Subsidy Reforms
July 27, 2023/Fitch Ratings Nigerian banks face weaker capital ratios and higher impaired loans following reforms to liberalise the Nigerian naira and to remove the long-standing subsidy on fuel, Fitch Ratings says in a new report. The official exchange rate depreciated sharply in June following the Central Bank of Nigeria’s […]
