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Zenith Bank Invests Over N12 Billion in Targeted Interventions, Posts N178 Billion PAT

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Zenith Bank - Investors King

Zenith Bank Posts N178 Billion Profit After Tax in 2019

Zenith Bank, Nigeria’s most profitable bank, has said it invested over N12 billion through targeted interventions in education, healthcare, sports and infrastructural development to drive change across Nigeria in the last five years.

In its sustainability report for the 2019 financial year released on Friday, the top tier bank said having operated for 30 years in Nigeria and other regions, it is no stranger to the sustainable business drive.

We are leveraging the progress that we have made so far as a platform to deliver more impact,” stated Jim Ovia, Chairman, Zenith Bank Plc.

He said “We understand that the financial services sector plays a very crucial role in the overall economic development of Nigeria. Hence, to maximise our impact, we have made concerted efforts to lead the way in providing financial resources and support to strategic sectors that will sustainably steer the nation towards economic prosperity. We are always challenging ourselves to deeply examine our business processes to integrate
sustainability into every aspect of our business.

Expanding its strong business model anchored on sustainability report, Zenith Bank posted strong financial results in 2019. The lender’s Profit Before Tax (PBT) grew by 4.1 percent from N192 billion in 2018 to N200 billion in 2019 while Profit After tax expanded by 7.6 percent to N178 billion in 2019, up from N165 billion achieved in 2018.

Gross earnings gained 5 percent from N538 billion filed in 2018 to N565 billion in 2019. The company’s total deposits stood at N3.49 trillion as of the end of December 2019, representing a 23.6 percent growth from N2.82 trillion in 2018.

Similarly, the bank’s total assets and shareholders’ fund gained 9.7 percent from N4.96 trillion in 2018 to N5.44 trillion and 15.4 percent from N675 billion to N779 billion, respectively.

The bank explained that the 2019 performance gives an insight into its results in the next report cycle and emphasised its potential to increase its contribution towards sustainable development significantly.

Jim Ovia added that “Our commitment to environmental and social value creation remains robust. We recognise that big business will continue to play a significant role not only in creating economic opportunities but building a socially stable and environmentally resilient nation.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Banking Sector

Hope PSBANK Collaborates With FG To Create 100 Jobs In Each Local Government

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Hope PSBank- Investors King

Hope Payment Service Bank, a subsidiary of Unified Payment Services Limited and Nigeria’s premier digital bank is collaborating with the Federal Government through the Ministry of Labour and Productivity to create jobs for no fewer than 77,400 people across the country.

The employment opportunity is part of the exit strategy of the Federal Government’s Special Public Works Programme being executed alongside the bank by empowering 100 Nigerians in each of the 774 local governments.

Speaking at the official kick-off of the collaboration, the Managing Director, Hope Payment Service Bank, Mr. Ayotunde Kuponiyi noted that the digital bank serves as an enabling platform that would interface with 77,400 beneficiaries selected from the Special Works Programme of the FG to exit them into self-employment.

Kuponiyi stressed that the focus of the collaboration is geared towards empowering beneficiaries through the agency banking platform in carrying out financial services such as account opening, bills payments, fund transfer, cash in/cash for Nigerians while they earn commission in return with just the use of their smartphones.

According to him, this initiative comes at no cost to the beneficiaries as they can use their phones to carry out agency banking activities for which they earn commissions on each activity carried out. “Once on board, these beneficiaries will become HOPE PSBANK agents. They will undergo training on the various activities by the bank at no cost to them”, he added.

“We are very excited about this collaboration with the Ministry, which is in line with the thrust of the social objectives of Hope Payment Service Bank – poverty reduction through financial inclusion and diffusion of digital financial services”, he said.

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Insurance

Airtel Partners AXA Mansard, Unveils Mobile Health Insurance via USSD

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AXA Mansard USSD Code-Investors King

Airtel Nigeria and AXA Mansard, have entered a strategic partnership to deepen access, participation and enrolment in health insurance for more Nigerians.

The partnership by Airtel and AXA Mansard is in response to the Federal Government’s goal, through the National Health Insurance Scheme, to provide easy access to healthcare for all Nigerians by leveraging on the USSD channel, an easy-to-use and interactive platform.

By dialing the shortcode, *987*7#, Airtel customers can now conveniently enroll for affordable and robust health insurance plans from AXA Mansard, with access to over 1,000 hospitals nationwide for quality healthcare services.

Commenting on Airtel’s partnership with AXA Mansard on the Mobile Health Insurance, the Head Mobile Financial Services, Airtel Nigeria, Muyiwa Ebitanmi, said the mobile health insurance initiative demonstrates Airtel’s commitment to providing innovative and relevant solutions that will empower more Nigerians to conveniently access best-in-class health insurance value offerings.

“Airtel Nigeria is always exploring innovative ways and platforms that will make life easier, more meaningful and more enjoyable for Nigerians. With this initiative, we are not just delivering bespoke health insurance services to the doorstep of more people, we are also leading a quiet revolution that will drive and deepen health insurance inclusion by removing the many barriers that have hitherto excluded many well-meaning Nigerians from participating in the sector.”

Speaking about the Mobile Health Insurance initiative, the Head, Emerging Customers and Digital Partnerships Group at AXA Mansard, Mr. Alfred Egbai, stated that “our research has shown the value and importance of having a health insurance plan to the public especially for the emerging customers in the country, but for many reasons, the uptake of insurance products has been low”.

He continued, “In order to mitigate these challenges and satisfy the health needs of the retail consumer whilst also encouraging the uptake of health insurance in the country, we have partnered with Airtel Nigeria to provide a solution that gives users a convenient way to purchase and manage their AXA Mansard micro-insurance plans.”

Malaria Cover, Inpatient, Outpatient, Specialist medical consultations, Immunizations, Family planning, Ambulance services, Dental care and more are some of the covers provided in the AXA Mansard Health plans.

“The challenges to the implementation of health insurance schemes hitherto include a low level of awareness, affordability, ineffective distribution systems and inefficient payment models.

“The partnership between Airtel Nigeria and AXA Mansard is aimed at solving these challenges and assisting Nigerians to access a viable Health Insurance Scheme,” he said

Airtel Nigeria, as a socially responsible organization, will continue to partner with industry leaders to bring products and services that will touch the lives of its subscribers in very positive ways.

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Insurance

AXA Mansard Launches MyAXA Plus – A Better, Faster, and More Convenient Mobile App

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MyAXA App- Investors King

AXA Mansard Insurance Plc, a member of the AXA Group and global leader in insurance and asset management, today announced the launch of its new “MyAXA Plus” mobile application.

This follows the launch of the company’s first mobile app in 2017 and further underscores the company’s desire to deliver delightful and relevant, cutting-edge financial solutions to its customers and the larger society.

“MyAXA Plus” has been very well received because it provides a much improved, seamless, and satisfying experience that puts users at the heart of every feature and action on the app.

The features available at launch include:

  • Make Claims: Customers can make claims on their insurance policy, enabling fast reporting of incidents and payment of claims by the company.
  • Book Hospital Visits: HMO customers of AXA Mansard can receive care at over 1,700+ hospitals, and with MyAXA Plus, they can also pre-book hospital visits, reducing their wait time while also getting faster access to specialist consultations.
  • Renew Insurance Policy: Customers, by providing their car plate number on the app, can also renew their motor insurance policy within a few minutes.
  • Invest & liquidate funds: Investors, whether with a high or low-risk appetite can find the right investment options on the app. Also, liquidation of funds and crediting of the customer account is completed within 5 minutes via the app.
  • Data-driven advice: App users can make informed decisions by checking the market rates and trends before investing funds, reading articles by experts, and interacting with a robot-advisor that uses information provided by the customers to suggest the right products and insurance cover in seconds.

In addition, MyAXA Plus allows registered and unregistered users to generate instant quotes of any product; use the BMI calculator; read blog articles; check investment trends & rates; calculate returns on investment; calculate the market value of any car; and contact sales agents for more information.

“After launching the first of its kind MyAXA mobile app which gave customers a consolidated, single point of access to their general and life insurance; health insurance; assets and savings accounts in 2017, our team set out to build a more advanced solution to further empower customers to achieve their financial goals and access quality healthcare, wherever and however they choose,” said Mr. Bayo Adesanya, the Chief Digital Innovation Officer at AXA Mansard.

“We are committed to achieving the singular goal of putting our customers first, in this instance, by building an app that incorporates their feedback on desired features and improvements, as well as including other market-leading innovations. We urge our existing and future customers to start using MyAXA Plus today.”

To download MyAXA Plus by AXA Mansard Insurance, visit App Store for iOS users and the Google Play Store for Android users respectively.

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