Access Bank Leads Nigerian Banking Sector in 2024 PBSI Rankings. Access Bank Plc has been recognized as the top Tier-1 bank in the 2024 Proshare Bank Strength Index report (PBSI). This recognition was a result of an evaluation through comprehensive financial metrics derived from audited financial statements for the Financial Year 2023 The PBSI report places Access bank at the forefront of the Nigerian banking industry, alongside other prominent institutions such as Zenith Bank Plc, FBNHoldings Plc, Ecobank Transnational Incorporated, UBA Group, and Guaranty Trust. According to the report, Access Banks' proactive approach to addressing macro and microeconomic risks has been a key factor in its outstanding performance. As the Nigerian banking sector continues to evolve, the Central Bank of Nigeria's ongoing recapitalisation programme highlights the importance of investments in financial technology, customer service scalability, and digital asset engineering. The report emphasizes that higher capital levels should be leveraged to enhance shareholder returns and customer service experiences, warning that banks lacking a deliberate strategy to transition from cash flow to value creation may struggle.
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The report captures recent developments in the Nigerian banking sector and highlights the latest 2024 Proshare Banking Strength Index (PBSI) ranking for Tier 1 Banks, which, based on contemporary metrics, unexpectedly reverts to the concept of FUGAZE. read more below: https://lnkd.in/dvcaxu46 #AskProshare #Tier1banks
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🌟 Breaking News in the Banking Sector: Key Reforms in Cheque Management by the Central Bank Of Tunisia 🌟 📄 The Circular No. 2024-14, issued on November 21, 2024, by the Central Bank of Tunisia, has introduced transformative measures in cheque transactions and incident management. Here's what you need to know: 💡 Key Highlights: ▶Enhanced Security: Introduction of an electronic platform for real-time monitoring and validation of cheque transactions. ▶Customer Protection: Stricter obligations on banks to verify clients' financial standing before issuing cheque books. ▶Simplified Processes: Depenalization of cheques under 5,000 TND, reducing minor legal risks. ▶Digital Integration: Mandatory adoption of an electronic platform across all banks for streamlined cheque management. 🌍 Why It Matters: These reforms mark a significant step toward modernizing Tunisia's financial infrastructure, fostering trust in cheque transactions, and reducing financial fraud. As a financial analyst, I see this as a critical move aligning with global banking standards while safeguarding consumer interests. 📊 Insights for Professionals: This circular is a must-read for those in banking, finance, and compliance. It not only sets new operational standards but also offers valuable lessons in balancing innovation with regulation. 🔗 Curious about the full document and its implications? Feel free to connect or drop a comment! Let’s discuss how these changes impact businesses, customers, and the future of financial services in Tunisia. 👥 Let’s Engage! ◻How do you think these reforms will shape the future of banking in Tunisia? ◻Are other countries in the region ready to follow suit? 💬 Share your thoughts below or message me to exchange ideas!. Let’s make this discussion impactful. 🌐✨
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While the bank has become cost-effective, it has come at the cost of stagnant growth in deposit mobilisation. Read this story from Profit's latest issue: The “Standard” Chartered journey: From a promising global banking juggernaut to a risk-averse frugal bank
The “Standard” Chartered journey: From a promising global banking juggernaut to a risk-averse frugal bank - Profit by Pakistan Today
https://profit.pakistantoday.com.pk
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Is Pakistan’s banking sector living up to its full potential? Read a joint oped by CERP and Alchemy Technologies in today’s Dawn: https://lnkd.in/dxns8ayf
Banking shortcomings
dawn.com
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"Our best banks reveal similar shortcomings in efficiency, profitability, and growth, when measured against their peers in the region who compete by focusing on growing advances with innovative products and technology-driven improvements to credit allocation and disbursement. Pakistani banks focus on investments and returns on government debt. The outcome of both choices is clear." An interesting take on how our banks are performing. A joint analysis by CERP and Alchemy.
Is Pakistan’s banking sector living up to its full potential? Read a joint oped by CERP and Alchemy Technologies in today’s Dawn: https://lnkd.in/dxns8ayf
Banking shortcomings
dawn.com
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In a move aimed at fortifying the resilience of Nigeria's banking sector, the Central Bank of Nigeria (CBN) has announced significant increases in the minimum capital requirements for banks. Effective immediately, commercial banks with international authorization are mandated to maintain a minimum capital base of 500 billion naira, while national banks must adhere to a minimum capital requirement of 200 billion naira. This policy shift signals a pivotal moment for Nigerian banks, necessitating strategic adjustments to meet the new regulatory demands. Firstly, it underscores the CBN's commitment to bolstering financial stability by ensuring that banks possess sufficient capital buffers to withstand economic shocks. By raising the bar for capital adequacy, the CBN aims to mitigate risks and enhance the resilience of the banking sector against unforeseen challenges. For Nigerian banks, this policy presents both challenges and opportunities. Meeting the heightened capital requirements will require concerted efforts, potentially prompting mergers, acquisitions, or capital injections. While this may pose short-term operational hurdles, it sets the stage for a more robust and competitive banking landscape in the long run. Banks that successfully adapt to the new regime stand to enhance their credibility, attract investors, and expand their market presence. However, the implications extend beyond the banking realm, impacting bank customers and the broader economy. With banks focused on bolstering their capital positions, lending conditions may tighten, affecting access to credit for businesses and individuals. This could constrain investment and dampen economic growth in the near term. Additionally, customers may experience changes in banking services and fee structures as institutions recalibrate their business models to align with the new regulatory framework. In the broader economic context, the policy shift reflects Nigeria's ongoing efforts to align its financial sector with global best practices and strengthen the country's position as a regional financial hub. While the immediate impact may pose challenges, the long-term benefits of a more resilient and competitive banking sector are poised to contribute to sustainable economic growth and stability. In summary, the CBN's decision to raise minimum capital requirements for banks heralds a new chapter for Nigeria's financial landscape. While it necessitates adaptation and adjustment, it also presents an opportunity for banks to fortify their foundations and contribute to the nation's economic prosperity in the years ahead.
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The Romanian banking sector continues to be a cornerstone of the national economy, demonstrating notable growth and resilience. This ranking highlights the top banks in Romania based on their assets, showcasing their strengths and market positions.
Top Banks in Romania: 2024 Ranking and Analysis - LobbyRomania
https://lobbyromania.ro
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Meezan Bank's Evolution and Triumphs in Pakistan Commencing its journey in 1997 as Al-Meezan Investment Bank with a focus on Islamic investment banking, Meezan Bank underwent significant expansion and acquisitions over the years. In 2002, it augmented its portfolio by acquiring the Pakistan operations of Société Générale, followed by the acquisition of 10 branches of HSBC Bank Middle East in 2014. Factors Behind Success: Meezan Bank's triumph in Pakistan can be ascribed to various pivotal factors: 1. *Islamic Banking Prowess*: Grounded in Islamic principles, Meezan Bank has captured a substantial market share by offering Sharia-compliant banking services, resonating with a sizable segment of the populace. 2. *Commitment to Ethical Conduct*: Prioritizing ethical standards and transparency has engendered trust among both customers and stakeholders. 3. *Pioneering Product Offerings*: Meezan Bank has spearheaded the introduction of innovative Islamic banking products and services, including Islamic car financing, home financing, and investment products, tailored to meet the evolving needs of its clientele. 4. *Exemplary Customer Care*: The bank underscores exceptional customer service, delivering personalized attention and assistance to its clients. 5. *Strategic Expansion Endeavors*: Meezan Bank has strategically expanded its branch and ATM network across Pakistan, ensuring broader accessibility to its services. 6. *Exemplary Talent Management*: From junior to senior levels, Meezan Bank boasts an exceptional hiring, onboarding, and training process, fostering a culture of excellence. Meezan Bank's narrative of success is underscored by its consistent growth in assets, profits, and market share since its inception. It stands as the foremost Islamic bank in Pakistan, garnering numerous accolades and awards for its substantial contributions to the nation's banking landscape.
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The Net-Zero Banking Alliance (NZBA) 2024 Progress Report published this week shows NZBA banks are taking significant steps towards meeting their climate goals. Nordea, as the only Nordic bank, is a member of the NZBA Steering Group and included in the report with a case study of Nordea’s transition assessment tool to support client engagement. Few highlights on progress: 📝 Since the launch of NZBA (in 2021), membership has more than tripled from 43 to 144 banks. 📝 97 % of the banks set their first individual sectoral targets in due time . 📝 Around 80 % have set targets covering all or a substantial majority of the carbon-intensive sectors where they have material exposure 📝Nearly 66 % have published transition plans, with more banks planning to publish in 2024. Full report and insights can be found at. https://lnkd.in/d9tQnrpi
Net-Zero Banking Alliance 2024 Progress Report
unepfi.org
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African banks are racing to go digital! The 2024 African Digital Banking Report by Backbase and African Banker reveals that 76% of banks in Africa rank digital transformation among their top 3 goals, and 60% are already making significant progress.📈 Read the full article below. Connecting Africa News, Paula Gilbert, 💯 Imran Sumra #digitaltransformation #banking #finance
The state of digital transformation in African banks - Connecting Africa
connectingafrica.com
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