GTBank Leads 10 Other Banks In Lowest Cost-To-Income Ratio

Despite inflationary pressure on cost of running banking operations, Guaranty Trust Bank Plc (GTBank) outperformed 10 other commercial banks in cost-to-income ratio for financial year ended 2016. Cost-income ratio is a ratio between the costs involved in running a business and the income the business produce. Cost-to-income ratio is important for determining the profitability of…

CBN Suspends Interchange Charges On Electronic Payment

The Central Bank of Nigeria (CBN) has suspended the implementation of inter change regime on electronic payment that involves merchant service until further notice. Director, banking and payments system department, CBN Mr Dipo Fatokun, in a signed circular to merchant acquirers, card issuers, card schemes, among other stakeholders explained that the apex banking regulating had…

PMB Appoints New Management For Nexim Bank

President Muhammadu Buhari has approved the appointment of Abubakar Abba Bello as the new Managing Director of Nigeria Export-Import Bank (NEXIM). This is contained in a statement issued by the director media, Bolaji Adebiyi in the office of the Secretary to the government of the federation. He said also appointed are Dr. Bala Mohammed Bello…