Standard Bank recorded a 17 per cent rise in its revenue for the 2012 fiscal year. Its results released on Thursday, showed that the bank, which also trades as Stanbic IBTC Bank Plc, recorded a 32 per cent growth in transactional products and services revenue, while transactional banking revenues grew […]
Tag: Standard Bank
Naira drops on reduced dollar supply
The naira declined against the United States dollar on the inter-bank market, reaching a two-month low and capping the worst week in 12, as foreign inflows and oil company foreign-exchange sales were said to be limited. The local currency retreated 0.3 per cent to N158.525 a dollar, the lowest closing […]
CBN converts more dollar reserves into Chinese yuan
The Central Bank of Nigeria is converting more of the nation’s foreign reserves from the dollar into the Chinese renminbi or yuan. The Financial Times reported that in August, the central banks of Nigeria and Tanzania joined their counterparts from other continents in adding more renminbi to their reserves. The […]
