Tag: Growth
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UBA delivers N153 billion profit, records 11% balance sheet growth
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has announced its audited results for the full year ended December 31, 2021, reporting impressive performance in key financial metrics.
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World Bank raises Nigeria’s growth projection to 2.4% in 2021
The World Bank on Wednesday raised its 2021 economic growth forecast for Nigeria to 2.4 per cent, but said this still falls behind the sub-Saharan growth forecasts of 3.3 percent in 2021 and 3.5 per cent in 2022. The World Bank disclosed this in the latest edition of its Africa’s Pulse Report. The World Bank…
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Nigeria’s GDP records 0.51% growth in 2021 first quarter
Nigeria’s Gross Domestic Product (GDP) has recorded a growth of 0.51 per cent (year-on-year) in real terms in the first quarter of 2021. The National Bureau of Statistics (NBS) disclosed this in the latest Nigerian Gross Domestic Product Report released on Sunday. It noted that the new figure represented two consecutive quarters of growth following…
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Fidelity Bank Announces 53.9% Growth in 1st Quarter Profit Before Tax of N10.1bn
Top Nigerian bank, Fidelity Bank Plc, has recorded a strong financial performance in the first quarter of 2021, posting appreciable growth in profits for the period ending 31 March 2021. Details of the unaudited results, released at the Nigerian Stock Exchange (NSE) show that Profit before Tax (PBT) grew by 53.9% from N6.6bn in 2020…
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IMF projects six per cent growth for global economy
The International Monetary Fund (IMF) says the global economy is projected to grow at six per cent in 2021, moderating to 4.4 per cent in 2022. The April 2021 World Economic Outlook (WEO) was presented on Tuesday in Washington D.C. by Gita Gopinath, the fund’s Chief Economist at the ongoing IMF/World Bank Spring Meetings which…
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Nigeria stock market ends 2020 with 50.03% growth
The nation’s bourse on Thursday closed 2020 upbeat, appreciating by 50.03 per cent, with the All-Share Index crossing the 40, 000 mark on the last trading day, in spite of COVID-19 pandemic. Specifically, the All-Share Index which opened trading for the year at 26, 842.07 rose by 13, 428.65 points or 50.03 per cent…
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Nigeria’s growth vulnerable to external, domestic risks – World Bank
Although Nigeria’s economy continues to recover from the 2016 recession, the country’s growth outlook is vulnerable to external and domestic risks, including geopolitical and trade tensions that may affect inflows of private investment, the World Bank has said. The bank, which stated this in its Nigeria Economic Update report published yesterday, noted that Nigeria’s “GDP…
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Fidelity Bank delivers double-digit growth in quarterly revenue
Leading tier-two Nigerian lender, Fidelity Bank Plc, has continued to soar higher, posting a double-digit growth in the first quarter of 2019. In its financial statements for the period ended March 31, 2019 released today, the bank grew its gross earnings by 11.81 percent to N48.4 billion from N43.3 billion, while fee and commission income…
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UBA’s capital buffer strong to support growth – Uzoka assures shareholders, customers
Group Managing Director of United Bank for Africa (UBA) Plc, Mr Kennedy Uzoka, has assured shareholders of the company that the lender was strong enough to weather any storm. According to him, the present state of the bank’s financial status can support the growth target set by the management. He said UBA remains liquid and…
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States recorded N264.38bn IGR growth in Q3 2018 – NBS
The National Bureau of Statistics (NBS) in its states level Internally Generated Revenue records for Q3 2018 says States and Federal Capital Territory recorded N264.38bn as IGR in the third quarter of 2018, compared to N279.78bn recorded in the half-year of 2018. The report was released on Friday by the bureau This indicated a negative…