#commercialbanking

  1. See why Access, UBA, Zenith, and others close millions of bank accounts

    By Dave Ibemere Nigerian banks, including Access, UBA, and Zenith, have frozen over 2 million customers' bank account The move is in obedience to the order from the Central Bank of Nigeria on linking BVN and NIN to bank accounts CBN explained that the directives are necessary to cle
  2. Popular Nigerian bank launches new service that requires no network connection

    By Zainab Iwayemi Moniepoint Microfinance Bank recently launched its Unstructured Supplementary Service Data This is to enable customers to easily do their banking operations from any mobile device without a connection In cases of suspected fraud, the managing director of the bank s
  3. 2-year-old bank unveils new branch to rival GTB, Access, others in Akwa Ibom

    By Zainab Iwayemi Parallex Bank has announced it has launched its new branch in Uyo, the capital of Akwa Ibom State The bank was initially started in 2008 as a microfinance bank but became a commercial bank in 2021 The state governor assured that development is in line with the driv
  4. Why Nigeria still owes foreign airlines, Minister reveals companies responsible

    By Pascal Oparada The Nigerian government has confirmed that about $600 million belonging to foreign airlines is still held in Nigeria The Minister of Aviation and Aerospace, Festus Keyamo, said commercial banks and not the CBN owe the amount IATA had raised the alarm over $700m sti
  5. Ukraine to tax 2023 banking profits at 50%

    Exorbitant profits Ukrainian commercial banks booked in 2023 will be taxed at 50%, while the tax rate for subsequent years will be set at 25%, Ukraine's Parliamentary Finance Committee chairman Danylo Hetmantsev said in a Telegram post on Nov. 16. The corresponding bill has been a
  6. China is celebrating a decade of the Belt and Road Initiative. What is it about?

    By Nectar Gan and Simone McCarthy, CNN China on Tuesday kicked off a summit marking the 10th anniversary of its Belt and Road Initiative – an ambitious yet controversial undertaking to boost connectivity and trade across the world with Chinese money and know-how in infrastructure
  7. It was a big week for interest rates. Here’s what you need to know

    By Analysis by Krystal Hur, CNN A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. Central bank officials around the world
  8. Bank of England pauses historic rate hikes as UK inflation falls

    By By Hanna Ziady, CNN The Bank of England paused its historic interest rate hiking campaign for the first time in nearly two years Thursday after inflation fell unexpectedly in August. The decision keeps the main borrowing cost for commercial banks in the United Kingdom at 5.25% —
  9. Germany’s economy hasn’t looked this weak since the start of the pandemic

    By By Hanna Ziady, CNN Germany suffered the steepest decline in business activity for more than three years this month, according to survey data published Wednesday, stoking fears that Europe’s biggest economy is falling back into recession . An initial reading of the country’s Purc
  10. China disappoints investors with ‘underwhelming’ decision on key interest rate

    By By Juliana Liu and Michelle Toh, CNN China has surprised investors by deciding not to cut an important interest rate that influences mortgages, in a move that economists say will make it tough to revive confidence in the country’s troubled real estate sector which has dragged d