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May 2012 Blog Posts (9)

Stanbank update on group's performance

At the annual general meeting, chief executive Jacko Maree will refer to this update regarding the group's performance for the first four months of 2012 in comparison with the same period for 2011.

Banking activities Net interest income for the first four months of 2012 benefited from good loan growth towards the end of 2011 and the ongoing improvement in new business lending margins. Non-interest revenue was boosted by good growth in trading revenues albeit off a lower base…


Added by Isaac Twumasi Quantus on May 31, 2012 at 10:47am — No Comments

UT Bank wins 2011 Bank of the Year

UT Bank has been adjudged the 2011 Bank of the Year at a ceremony held Saturday night at the Accra International Conference Centre.

The bank won two other awards: Best bank – IT/Electronic banking and Best Bank – Financial Performance – out of the 18 categories that were up for grabs. Unibank snatched the highest of all the 25 banks going home with four awards.

Unibank won the Best Bank – Corporate Banking, Best Bank Customer Care, Best Bank – Trade Finance and Best Bank –…


Added by Isaac Twumasi Quantus on May 28, 2012 at 8:51am — No Comments

Stanbic Bank announces landmark $300m loan syndication for MTN Ghana

MTN Ghana has raised $300-million in medium-term funding facilities in syndicated loan to expand and improve its network.

The amount raised include a local component of GH¢ 410 million term funding, making this the largest local currency deal in the country’s history.

The remaining $60 million was taken up by foreign banks.

Stanbic Bank Ghana and Standard Bank South Africa, both members of the Standard Bank group, led the syndication in which a total of 20 local…


Added by Isaac Twumasi Quantus on May 23, 2012 at 9:24am — No Comments

Access Bank, Intercontinental merger wins M&A award

The merger deal between Access Bank and the defunct Intercontinental Bank in 2011 has been adjudged Africa’s top merger and acquisition (M&A) deal by the Banker Magazine.

The magazine, a member of the Financial Times stable of publications, therefore selected Access Bank and Intercontinental Bank deal as the “2012 Mergers and…


Added by Isaac Twumasi Quantus on May 22, 2012 at 9:06am — No Comments

Ecobank: making it in Africa, and why size matters

The greatest opportunities (for investors in banking and financial services industries) will lie in the mass retail segment. Less than 20% of the African population has access to formal banking facilities, which represents a huge opportunity.

Nelson Mandela once said: “It always seems impossible until it is done.” Today, Ecobank is recognised as a major…


Added by Isaac Twumasi Quantus on May 17, 2012 at 11:00am — No Comments

World Bank Announces Makhtar Diop as its New Vice-President for Africa

Makhtar Diop, a Senegalese national with more than 25 years of development experience, today becomes the new World Bank Vice-President for Africa.  


Diop was previously Country Director for Brazil since 2009 where he managed the World Bank’s largest country program. Prior to joining the Bank, Diop worked at the International Monetary Fund and served as Minister of Finance of Senegal, and as Chair of the West African Monetary Union (WAEMU) Board of Finance…


Added by Linda Larbie on May 10, 2012 at 4:03pm — No Comments

GTBank Introduces Mobile Savings Account In Ghana

To further expand its range of convenient banking services, Guaranty Trust Bank (Ghana) Limited has teamed up with Airtel Ghana Limited to introduce mobile savings account.

Named as GTMobile Savings Account, this service offers new or existing GTBank and Airtel customers the opportunity of transacting some normal banking operations through their mobile phones by linking their mobile money wallet to their GTBank account(s).

The service allows users to make deposits into their…


Added by Linda Larbie on May 10, 2012 at 4:01pm — No Comments

Bank of Ghana draws investors to T-bills

The Bank of Ghana (BoG) is luring investors to government paper with higher yields that will raise the opportunity cost of holding dollars and stabilise the exchange rate.

At its auction last Friday, for bills to be issued this week, the bank hiked interest rates on short-term bills and notes to levels not seen in two years. The yield on the 91-day bill rose to 15.4%, the highest since March 2010, while the 182-day bill…


Added by Linda Larbie on May 10, 2012 at 3:59pm — No Comments

IFC and The MasterCard Foundation Launch Partnership to Improve Financial Services for Millions in Africa

IFC, a member of the World Bank Group, and The MasterCard Foundation today launched a partnership to increase access to financial services for an estimated 5.3 million people in Sub-Saharan Africa. Building on recent economic momentum and stability in many African economies, the project will create new opportunities for economically disadvantaged people to expand businesses, gain access to cost-effective financial services, and manage risk.

Through this new…


Added by Linda Larbie on May 8, 2012 at 6:08pm — No Comments

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