The 2025 financial year was marked by cautious lending across the banking sector, despite the Central Bank of Nigeria’s (CBN) decision to reduce the Loan-to-Deposit Ratio (LDR) requirement to 50 per cent. A Pinnacle Daily review of the financial results of major banks shows that while some lenders maintained loans slightly above the regulatory minimum, …
Ecobank Transnational Incorporated posted a 30 per cent rise in profit before tax to ₦1.28 trillion, supported by growth in interest income, fees and customer deposits. The pan-African lender reported this in its 2025 unaudited financial statements for the year ended December 31, 2025, released on Friday. A review of the results by Pinnacle Daily …
United Bank for Africa (UBA) has appointed Loknath Mishra as the Chief Executive Officer of its United Kingdom (UK) subsidiary, effective February 2, 2026. The appointment highlights UBA Group’s aim to strengthen its international presence and solidify its role as a key financial bridge between Africa and global markets. Mishra will focus on positioning UBA …
Access Bank Plc has named Ifeyinwa Osime as its new board chairman. The appointment follows the retirement of Paul Usoro on January 29, 2026, after he completed his regulatory tenure. The bank announced this in a statement on Monday by its company secretary, Sunday Ekwochi. “Access Holdings Plc is pleased to announce that the Board …
The Chairman of First HoldCo Plc, Femi Otedola, has explained the reason behind the group’s sharp decline of over 90 per cent in its 2025 financial performance. Otedola gave the explanation via his X handle on Saturday, January 31. He hinted that the drop was the result of a deliberate decision to fully recognise legacy …
First HoldCo Plc recorded a sharp decline in profit in 2025, as higher impairment charges and its exit from merchant banking significantly impacted its financial performance. A review of the Group’s unaudited financial statements for the year ended December 31, 2025, shows that profit fell by 93.36% to ₦44.98 billion, compared with ₦677.01 billion recorded …
Wema Bank Plc's non-performing loans (NPLs) dropped to ₦48.20 billion in 2025 from ₦64.99 billion a year earlier. The bank disclosed this in its unaudited financial statements for the year ended December 31, 2025. An analysis of the bank’s loan book shows that its credit-impaired loans, classified as Stage 3 under IFRS 9, fell to …
FCMB Group Plc posted a net foreign exchange loss of ₦14.06 billion in 2025, reversing a ₦36.47 billion gain recorded a year earlier. The lender disclosed this in its unaudited financial statements for the year ended December 31, 2025, released on Thursday. Pinnacle Daily analysis of the results shows that the reversal was largely driven …
States seeking access to the World Bank-assisted Human Capital Opportunities for Prosperity and Equity (HOPE-GOV) funds must publicly disclose details of their education and primary healthcare contracts, the Federal Ministry of Budget and Economic Planning has said. The new requirement, according to the ministry, is aimed at strengthening transparency and accountability in the use of …
The Central Bank of Nigeria (CBN) has upgraded the operating licenses of several leading fintech companies and microfinance banks to national status, allowing them to operate fully across the country. The upgrade covers Moniepoint Microfinance Bank, Opay, Kuda Bank, Palmpay, and Paga, among others. These fintech firms have expanded rapidly through mobile platforms and extensive …
