Banking News
The latest developments, earnings reports, and strategic shifts across global banking.
China to inject CNY 500 billion of special bond capital into four state-owned banks
Bank of China, China Construction Bank, Bank of Communications and Postal Savings Bank of China plan to raise CNY 520bn through share placements, with the finance ministry subscribing up to CNY 500bn.
Wema Bank Nigeria Reports FY2024 Pre-Tax Profit of NGN 102.5 Billion as Gross Earnings Rise 91% to NGN 433 Billion
Nigeria's Wema Bank posted FY2024 gross earnings of NGN 433.43 billion, up 91%, and profit before tax of NGN 102.5 billion, its highest in five years.
Fidelity Bank Nigeria Reports NGN 385.2 Billion Pre-Tax Profit for 2024, Up 210% Year-on-Year
Fidelity Bank Nigeria posted FY2024 profit before tax of NGN 385.2bn, up 210% year-on-year, as gross earnings rose 87.7% and customer deposits grew 47.9% to NGN 5.9 trillion.
Ecobank Transnational Reports FY2024 Profit Before Tax of $658 Million, Up 13%, with Record ROTE of 32.7%
Ecobank Transnational posted FY2024 pre-tax profit of $658 million, up 13%, achieving a record return on tangible equity of 32.7% across its 33-market African network.
Stanbic IBTC Holdings Nigeria Posts NGN 303.8 Billion Pre-Tax Profit for 2024, Up 76% as Net Interest Income Doubles
Stanbic IBTC Holdings reported FY2024 profit before tax of NGN 303.8bn, up 75.7%, with gross earnings rising 78% to NGN 823.3bn and net interest income doubling year-on-year.
GTCO Posts FY2024 Pre-Tax Profit of NGN 1.27 Trillion, Up 107.8%
GTCO reported FY2024 PBT of NGN 1.27 trillion, up 107.8% year on year.
China Construction Bank Reports RMB 336.28 Billion FY2024 Profit with Improving Asset Quality
China Construction Bank reported FY2024 net profit of RMB 336.28bn, up 1.15%, with total assets at RMB 40.57tn and NPL ratio improving three basis points to 1.34%.
BK Group Rwanda Reports FY2024 Net Income of FRW 91 Billion, Up 21.7%, as Total Assets Near FRW 2.52 Trillion
BK Group (Bank of Kigali) posted FY2024 net income of FRW 91bn, up 21.7%, with total assets growing 18.9% to FRW 2.52 trillion and ROE reaching 22.6%.
ICBC Retains World's Largest Bank Title with RMB 366.95 Billion FY2024 Net Profit
ICBC reported FY2024 net profit of RMB 366.95bn, up 0.5%, with total assets near RMB 49 trillion and overseas pre-tax profit rising 19% to over USD 4.4bn.
Agricultural Bank of China FY2024 net profit rises 4.7% to RMB 282 billion as NPL ratio falls to 1.30%
ABC's 2024 attributable net profit rose 4.72 per cent to RMB 282.08 billion on operating income of RMB 710.56 billion, while its non-performing loan ratio eased three basis points to 1.30 per cent.
Equity Group Holdings Reports FY2024 Profit Before Tax of KES 60.7 Billion, Up 17%, as Regional Units Drive Growth
Equity Group Holdings posted FY2024 PBT of KES 60.7 billion, up 17%, with regional subsidiaries contributing 54% of earnings and a customer base of 21.6 million.
Zenith Bank Reports FY2024 Profit Before Tax of NGN 1.33 Trillion, Up 67%, as Gross Earnings Rise 86%
Zenith Bank posted FY2024 pre-tax profit of NGN 1.33 trillion, up 67%, with gross earnings of NGN 3.97 trillion and total assets growing 47% to NGN 30 trillion.