Banking Sector

Fidelity to Give out N125million in Savings Promo

Published

3 years ago

November 14, 2021

Top Nigerian lender, Fidelity Bank Plc, on Friday announced the introduction of a new savings campaign, as part of its efforts to drive financial inclusion in the country. Tagged “Get Alert in Millions (GAIM) Season 5”, the savings promo is expected to run till July 2022 and will see customers cart away a total of N125 million in cash prizes.

Speaking at a press conference heralding the commencement of the promo, the Bank’s MD/CEO, Mrs. Nneka Onyeali-Ikpe pointed out that the campaign is the tenth in the series of savings promos organised by the Bank in last 15 years with the aim of incentivising its customers.

Mrs. Onyeali-Ikpe, who was represented by the bank’s Executive Director, Lagos & South-West, Dr. Ken Opara said the promo is one of the many initiatives of the bank specifically aimed at rewarding customers for their loyalty and patronage.

“We remain resolute to our commitment to enriching the lives of Nigerians, propagating a healthy saving culture and supporting the Central Bank’s mandate of deepening financial inclusion”, emphasised Mrs. Onyeali-Ikpe.

While encouraging Nigerians to take advantage of the promotion, Mrs. Onyeali-Ikpe stated that the bank’s cash reward offerings for GAIM Season 5 are worth over N125 million, all of which will be distributed to lucky customers of the bank through weekly, monthly, and grand draws.

According to Mrs. Onyeali-Ikpe, “We are elated at yet another opportunity to enrich and empower Nigerians with up to N125 million Naira cash prizes especially at a time like this. We are also thrilled at the savings culture this initiative will drive. Over the years, we have seen that many customers and hitherto non-customers have increased their savings by simply keying into the GAIM promo and we believe that this season will not be an exception.”

Elaborating on how to participate in this promo, Osita Ede, Divisional Head, Product Development, Fidelity Bank, stated that the scheme is open to both existing and new customers of the bank with a minimum of N2,000 in any of their Fidelity Bank savings accounts. He explained that the bank

is introducing the “ticket approach” in this season of the promo where every N2,000 in a customer’s account would be considered one ticket and urged customers to fund their accounts adequately to increase their probability of winning any of the mouthwatering prizes.

Also speaking at the event, Nkriru Onozo, Deputy Director, National Lottery Regulatory Commission (NLRC), Lagos Zone, expressed her delight at how the Bank has kept its word over the years. She said, “We have given our approval for this promo to run as we are confident that Fidelity Bank will continue to stay true to their promises. Having been a part of the last 4 editions of the campaign and seeing the successes recorded, we are enthused at the immense impact this edition will have on Nigerians and our economy at large. We will be here all step of the way to ensure all winners are duly rewarded.”

Suzi Onka representatives of the Consumer Protection Commission and Adeleke Adeniyi, representative, Monitoring, Compliance & Enforcement were also present and expressed their delight at the launch of the promo.

Initiatives such as GAIM serve as a testament to the Bank’s dedication to rewarding loyal customers and contributing to the Central Bank of Nigeria’s goal of financial inclusion by. It is on record that the bank has doled out over N4.1bn to 10,280 customers since inception.

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Banking Sector

Zenith Bank Extends Public Offer and Rights Issue by Two Weeks

Published

3 days ago

September 10, 2024

Investors King

Zenith Bank Plc on Monday announced that it has obtained regulatory approval to extend its public offer and rights issue by two weeks.

In a statement released via the Nigerian Exchange Limited (NGX), the leading financial institution said its offers for both existing shareholders and new investors have been extended to September 23, 2024, from the initial closing date of September 9.

The bank attributed the extension to the nationwide protest that began on August 1, the same day the offers were opened.

Zenith Bank stated that the extension will provide shareholders with more opportunities to take advantage of the rights issue and allow the general public ample time to subscribe to the public offers.

Banking Sector

Unity Bank Projects N27b In Q4 Earnings, Targets N4b Profit

Published

3 days ago

September 10, 2024

Investors King

Unity Bank Plc has projected gross earnings of N27 billion and a Profit After Tax of N4 billion in Q4, 2024, in its latest earnings forecast released to the Nigerian Exchange Group.

Although the projected gross earnings represent a marginal increase from the N26 billion projected for Q3 2024, the lender continues to maintain a profitable outlook, with pre-tax profit expected at N4.2 billion.

An analysis of the earnings forecast shows that the lender also expects interest income to rise from N23 billion to N24.5 billion, with net revenue expected to rise marginally by 1.0% to N7.2 billion within the quarter compared to N6.5 billion in Q3, 2024.

Net operating income is projected at N12 billion, while cash flow from financing activities is projected to rise to N481.4 billion from N353.6 billion, a 1.3% projected increase on a quarter-on-quarter basis. This projected growth in cash flow from financing activities continues to reflect the lender’s growing liquidity position which is essential for sustained business operations.

The lender said it expects to cover the milestones with a consistent optimistic outlook in its projection, barring any significant changes in the operating environment, under which the assumptions were made.

The lender noted that it will continue to deliver top-notch customer-centric products and services, especially in the digital lending space following the roll-out of enhanced platforms and channels for superlative customer experiences.

Analysts are of the view that the Q4 forecast reflects a steady growth trajectory on the back of key performance indicators and strategic repositioning to hedge the challenging market conditions.

Banking Sector

UBA Rewards 30 Lucky Customers in Legacy Promo

Published

4 days ago

September 9, 2024

Investors King

As part of ongoing activities to commemorate its 75th anniversary, United Bank for Africa (UBA) Plc, has rewarded 30 loyal customers with over N17 million in the just concluded draw for August.

The winners were announced following a transparent draw conducted at the bank’s headquarters, which was streamed live on YouTube. Representatives from the National Lottery Regulatory Commission (NLRC) were invited to oversee the proceedings, ensuring fairness and compliance with regulations.

The bank said in a statement that inthe top tier, 10 lucky bumper account holders: Joshua Izenobor, Chigozie Victor Abel, Cornelius Peter Nwankwo, Joy Esele Asibor, Mohammed Abubakar, Marachi Jenifer Kevin, Chidinma J. Okoronkwo, Saidu Ahmadu, Philomena Ezekiel, and Peace Ogechi Idoko, emerged as winners of N1 million each.

UBA explained that in the second category, another group of 10 lucky customers were rewarded with N500,000 each. The beneficiaries of this prize are: Elizabeth Warekoromor, Deborah Ijeoma Simon, Prince Chukwuamago, Yohanna Cyrus, Aishatu Aliyu, Djachi Ben-Ikezam, Tibebi Glory Esiteh, Emmanuel C. Udekwe, Ozima Friday Asiku, and Beauty Danasabe.

The third category saw 10 more lucky account holders each receiving N250,000. These winners include: Olusegun Oke, Salisu Adamu, Sola Deborah Adeyeye, Chidozie Nwachukwu, Gloria Abimaje, Anyiwe Stephen Ifeanyi, Kehinde F Adefemiwa, Oluwakemi Olushola Olayande, Adamu Hajara Adamu, and Ruth Adugba

Group Head of Retail & Digital Banking, UBA, Shamsideen Fashola, who congratulated all 30 winners after the draw, encouraged others to keep saving for a chance to win in the next edition, adding that the bank plans to reward 75 winners in each of the three categories, with a total of 195 more customers to be selected in the coming months.

“This is just the beginning of our legacy promo draw, as there are still many more prizes to be won in subsequent monthly draws. These draws are purely transparent, and the next millionaire could just be you. We encourage our loyal customers to follow the stated guidelines to win, and they could just be the next millionaire,” Fashola said.

Group Head of Marketing and Corporate Communications, UBA, Alero Ladipo, said that the bank is not conducting the draw for profit purposes but to ensure that its customers feel a sense of belonging.

“This initiative is part of UBA’s ongoing efforts to appreciate its customers and encourage a savings culture among our account holders. The UBA Legacy Promo is part of our CSR initiative to give back to society,” Ladipo said.