Commercial banks – Nioga http://nioga.net/ Thu, 30 Dec 2021 20:48:16 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://nioga.net/wp-content/uploads/2021/10/icon-120x120.jpg Commercial banks – Nioga http://nioga.net/ 32 32 Outstanding loans from scheduled commercial banks – September 2021 https://nioga.net/outstanding-loans-from-scheduled-commercial-banks-september-2021/ Thu, 30 Dec 2021 12:47:15 +0000 https://nioga.net/outstanding-loans-from-scheduled-commercial-banks-september-2021/ ेस काशनीPRESS RELEASE रज़वर्ब क RESERVE BANK OF INDIA 0??: www.rbi.org.in/hindi , क ीयकायार्लय, ??.??.??.??, ??, ??-400001 Website : www.rbi.org.in Department of Communication, Central Office, SBSMarg, Fort, Mumbai-400001 ??–??/E-mail : helpdoc@rbi.org.in ??/ Phone: 022- 22660502 December 30, 2021 Quarterly BSR-1: Outstanding credit on the due date Commercial banks – September 2021 Today, the Reserve Bank […]]]>

ेस काशनीPRESS RELEASE

रज़वर्ब क

RESERVE BANK OF INDIA

0??: www.rbi.org.in/hindi

, क ीयकायार्लय, ??.??.??.??, ??, ??-400001

Website : www.rbi.org.in

Department of Communication, Central Office, SBSMarg, Fort, Mumbai-400001

????/E-mail : helpdoc@rbi.org.in

??/ Phone: 022- 22660502

December 30, 2021

Quarterly BSR-1: Outstanding credit on the due date

Commercial banks – September 2021

Today, the Reserve Bank released its web publication titled ‘Quarterly Basic

Statistical returns (BSR) -1:Outstanding credit from programmed commercial banks (SCB), September 2021 ‘ on its Database on Indian Economy (DBIE) portal (web link: https://dbie.rbi.org.in/DBIE/dbie.rbi?site=publications#!12). It captures various characteristics of bank credit such as profession / activity and organizational sector of the borrower, type of account and interest rates. Data reported by 89 SCB (excluding regional rural banks) are presented for banking groups, population groups and states1.

Strong points:

    • Bank credit growth continued to be driven by growth in personal loans, which accounted for 27.4% of total credit in September 2021, up from 25.0% a year ago and 19.3% five years ago. year.
    • Demand for bank credit from the industrial sector moderated during the Covid19 pandemic; its share of outstanding loans fell to 28.0% in September 2021, from 29.9% a year ago.
    • While private sector bank credit demand continued to moderate and the household sector’s share of credit2 Further increased, the share of borrowers with relatively small loans (with a credit limit of up to one crore rupee) increased to 47.2 percent of total credit vis à vis 44.4% one year ago and 37.1% five years ago.
    • The share of female individual borrowers in total credit stood at 9.8% in amount and 31.3% in number of credit accounts in September 2021; their share in the additional credit in the last year (September 2021 compared to September 2020) was over 20.5% in loan amount and 44.8% in terms of number of accounts.
    • Private sector banks continued to lead the expansion of lending and increased their share in total credit to 37.5% in September 2021, from 35.9% a year ago and 26.4% a year ago. five years.
  1. Banking aggregates on a bimonthly basis Reporting Form A (collected under Section 42 (2) of the RBI of 1934) for the last Friday report of September 2021 was posted earlier on our website (Home> Statistics> Data Release > Bi-monthly>Bank position statement planned in India) and disaggregated statistics on BSC deposits and loans for September 2021 were also released earlier (Home> Statistics> Data release> Quarterly> Quarterly statistics on deposits and credit of BSCs).
  2. The household sector includes individuals, business owners, Hindu Undivided Families (HUFs), and partnership partnerships, among others.

2

  • The weighted average borrowing rate (WALR) on outstanding loans fell by 10 basis points (bps) in the quarter ended September 2021 and by 61 bps in the last year.

Press release: 2021-2022 / 1448

Ajit Prasad

Director (Communication)

Warning

Reserve Bank of India published this content on December 30, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on December 30, 2021 12:46:00 PM UTC.

Public now 2021


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Pakistan relies on global commercial banks for dollar inflows https://nioga.net/pakistan-relies-on-global-commercial-banks-for-dollar-inflows/ Fri, 24 Dec 2021 01:00:00 +0000 https://nioga.net/pakistan-relies-on-global-commercial-banks-for-dollar-inflows/ A representative imga ISLAMABAD: Amid the lingering deadlock over the IMF’s program revival, Pakistan continues to rely heavily on international commercial banks to generate dollar inflows to avoid depletion of foreign exchange reserves. Islamabad has secured $ 663.2 million in foreign loans from international commercial banks out of the total loans of $ 802.3 million […]]]>
A representative imga

ISLAMABAD: Amid the lingering deadlock over the IMF’s program revival, Pakistan continues to rely heavily on international commercial banks to generate dollar inflows to avoid depletion of foreign exchange reserves.

Islamabad has secured $ 663.2 million in foreign loans from international commercial banks out of the total loans of $ 802.3 million raised in November 2021. less than $ 6 billion from the IMF’s Extended Financing Facility ” Senior official sources confirmed in an interview with The News on Thursday It has now been decided that the bond will be launched in the second half (January-June) of the current fiscal year.

Against the total budget estimate of $ 14.008 billion for the entire 2021-2022 fiscal year, Islamabad has so far generated $ 4.699 billion in the first five months of the current fiscal year.

Pakistan was able to increase total inflows of dollars in loans and grants to $ 4.7 billion (exactly $ 4.699 billion) in the first five months (July-November) of the current fiscal year 2021-22 against 4.5 billion dollars generated. during the same period of the previous fiscal year. An analysis of official data showed that the government was forced to switch to short-term commercial borrowing in order to close the gap and meet its fiscal targets on external inflows on an annual basis.

During the same period of fiscal year 2020-2021, the government received $ 4.499 billion in total external inflows from several funding sources, or 37% of the annual budget estimate of $ 12 233 billion overall. for fiscal year 2020-21.

In fiscal year 2019-2020, external inflows amounted to $ 3.108 billion, or approximately (24pc) of the annual budgeted amount of $ 12.958 million. The total receipt of $ 4.499 billion represents $ 1.3 billion or 29% program aid / budget support to restructure the Pakistani economy; $ 1.621 billion (36 pc) in the form of foreign commercial loans to repay maturing foreign commercial loans; and $ 518 million (12pc) as aid to the project to finance its development project activities for the improvement of the socio-economic development of the country and for the creation of assets and $ 60 million (01pc) in as short term credit while $ 1 billion (22%) received in terms of time security deposits during the first five months of the last fiscal year 2020-2021.

In the first five months of the current fiscal year, the government generated $ 128.74 million from bilateral creditors, with China providing $ 73 million, France $ 3.5 million, Germany 3 , $ 52 million, Japan $ 5.15 million, Saudi Arabia $ 1.09 million, UK $ 10.01 million, and US $ 29.23 million. .

The government had generated $ 1.04 billion through Eurobond in July 2021, so this amount also adds to the total inflows received in the first five months of the current fiscal year. Through international commercial banks, the government raised $ 1.529 billion in the first five months of the current fiscal year. The government secured $ 720 million from the Dubai Bank, $ 478.2 million from Standard Chartered Bank of London and $ 270 million from the Consortium of Sussie AG, UBL and ABL. The government obtained $ 1.998 billion in loans from multilateral creditors in the first five months of the current fiscal year, including $ 620 million from ADB, $ 37.77 million from AIIB, $ 115 million from WB IBRD, $ 739.15 from WB loans to IDA, $ 468.3 from short-term loans from IDB, and many others.

Pakistan’s total foreign exchange reserves amounted to $ 25.027 billion; foreign reserves held by the SBP amounted to over $ 18 billion and commercial banks to $ 6.45 billion. In the week ending December 10, 2021, foreign exchange reserves declined by $ 90 million to $ 18.56 billion.


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U.S. commercial bank revenues down 15.5% in third quarter https://nioga.net/u-s-commercial-bank-revenues-down-15-5-in-third-quarter/ Tue, 21 Dec 2021 20:17:53 +0000 https://nioga.net/u-s-commercial-bank-revenues-down-15-5-in-third-quarter/ The Office of the Comptroller of the Currency (OCC) said U.S. commercial banks and savings associations reported trading revenues of $ 6.8 billion in the third quarter of 2021, down 15.5 percent from previous quarter. According to Quarterly report on banking, trading and derivatives activities, Trading revenue in the third quarter of 2021 was down […]]]>

The Office of the Comptroller of the Currency (OCC) said U.S. commercial banks and savings associations reported trading revenues of $ 6.8 billion in the third quarter of 2021, down 15.5 percent from previous quarter.

According to Quarterly report on banking, trading and derivatives activities, Trading revenue in the third quarter of 2021 was down 1.2% from a year ago, down from $ 6.9 billion in the third quarter of 2020.

The OCC said that while a total of 1,357 national and state commercial banks and savings associations in the United States reported trading and derivatives activity at the end of the third quarter of 2021, a small group of large financial institutions continued to dominate the trading and derivatives business.

He said that in the third quarter of this year, four major commercial banks accounted for 89.3% of the banking sector’s total notional amounts and 78.1% of the sector’s net credit exposure.

The trading income of the Consolidated Bank Holding Company (BHC), which the OCC says provided a “More complete picture” trading revenue in the banking system, amounted to $ 14.2 billion in the third quarter of 2021, down 39.7% from the previous quarter.

The decline in quarter-over-quarter trading income is primarily due to lower income from interest rate and equity trading instruments, according to the OCC.

The report indicated that prior to the 2008 financial crisis, banks’ trading income typically ranged from 60% to 80% of BHC’s consolidated trading income.

Since the crisis and the adoption of banking charters by former investment banks, the percentage of bank trading income to consolidated trading of BHC has decreased and is now generally between 30 and 50%.

“This decline reflects the significant trading activity of the former investment banks which, although included in the results of BHC, remains outside the insured commercial banks”, the OCC said in its report.

“More generally, commercial banks and insured US savings associations have more limited legal powers than their holding companies, especially in commodity and equity trading.”

Derivatives contracts remained focused on interest rate products, which accounted for 71.4% of total derivative notional amounts, while the percentage of centrally cleared derivative transactions decreased quarter over quarter for reach 39% in the third quarter of 2021.

Last week, William R. Emmons, assistant vice president and chief economist at the Federal Reserve Bank of St. Louis, said the number of US banks was shrinking.

According to Emmons in a December 9 blog post, the number of U.S. banks fell from an all-time high of 30,456 in 1921 to 4,377 at the end of 2020, a drop of 86%.

“The long-term decline in the number of commercial banks shows no signs of ending”, said Emmons. “Bank failures have become much less common, but the rate of chartering new banks has also become insignificant. Meanwhile, bank mergers continue at a historically high percentage rate. “



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Dividends declared by commercial banks listed in NEPSE https://nioga.net/dividends-declared-by-commercial-banks-listed-in-nepse/ Tue, 21 Dec 2021 12:35:29 +0000 https://nioga.net/dividends-declared-by-commercial-banks-listed-in-nepse/ KATMANDU: The commercial banks listed on the Nepal Stock Exchange (NEPSE) have announced that they will pay dividends to investors on the profits of the previous fiscal year. Of the total of the country’s 27 commercial banks, 26 listed in NEPSE declared a dividend, including in cash and free shares, on the distributable profit for […]]]>

KATMANDU: The commercial banks listed on the Nepal Stock Exchange (NEPSE) have announced that they will pay dividends to investors on the profits of the previous fiscal year.

Of the total of the country’s 27 commercial banks, 26 listed in NEPSE declared a dividend, including in cash and free shares, on the distributable profit for the financial year 2077/78. Some of the declared dividends were decided by the banks after a general meeting was held and some of them are preparing for the general meeting to make the announcement.

According to figures released to date, Nabil Bank is expected to distribute the highest dividend comprising 33.6% free shares and 4.4% cash dividend.

Likewise, Civil Bank will pay a dividend of 5.26% based on last year’s distributable profit. The bank said of the declared dividend, five percent will be free shares and 0.26 percent will be cash.

The Himalayan Bank will award 21.38% free shares and 4.62% cash dividends to its investors.

The Agricultural Development Bank decided to distribute 21.0526 percent dividend with 20 percent bonus and 1.56 percent in cash.

Sanima Bank announced 17% bonus and 0.8947% cash; Nepal Bank will give 14 percent bonus and 3 percent in cash, and Prime Commercial Bank will give 16 percent bonus and 0.6313 percent in cash.

Likewise, Nepal Investment Bank said it will distribute 16 percent dividends with 12.611% bonus and 3.389% in cash and Citizens Bank will distribute 16 percent dividend with 12.913 bonus and 3.87 percent in cash.

NMB Bank has offered its shareholders 12.5% ​​free shares and 3.3% cash dividends, NIC Asia Bank will offer 15% bonus and 0.7895% cash, Nepal Bangladesh Bank proves 12% free shares and 3% cash.

Siddhartha Bank will offer 14.25% free shares and 0.75% cash, Machhapuchche Bank 14% with 13.3% bonus and 0.7% cash, Bank of Kathmandu 14% with 10% bonus and 4% cash.

Global IME Bank announced a 13.5% dividend with 10% bonus and 3.5% cash while Standard Chartered Bank announced a 13.6% dividend with 10% bonus and 3.6% cash .

Prabhu Bank, Mega Bank, Laxmi Bank, Everest Bank, Kumari Bank, Nepal Credit and Commerce Bank (NCC), Sunrise Bank and Century Bank, Nepal SBI Bank also announced dividend shares and cash bonuses.

On the declared dividend, the money is deposited directly into the bank account while the free shares will be registered in the demat account provided by the investor.


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ECCB – ECCU rewards commercial banks in 2021 awards https://nioga.net/eccb-eccu-rewards-commercial-banks-in-2021-awards/ Sat, 18 Dec 2021 05:04:21 +0000 https://nioga.net/eccb-eccu-rewards-commercial-banks-in-2021-awards/ (MENAFN- Caribbean News Global) BASSETERRE, Saint Kitts – The Central Bank of the Eastern Caribbean (ECCB) has recognized CIBC / First Caribbean International Bank (Barbados) Ltd in Antigua and Barbuda, Bank of Saint Lucia Limited and 1st National Bank St Lucia Limited, for their exceptional banking services. services and demonstration of social responsibility in their […]]]>

(MENAFN- Caribbean News Global)

BASSETERRE, Saint Kitts – The Central Bank of the Eastern Caribbean (ECCB) has recognized CIBC / First Caribbean International Bank (Barbados) Ltd in Antigua and Barbuda, Bank of Saint Lucia Limited and 1st National Bank St Lucia Limited, for their exceptional banking services. services and demonstration of social responsibility in their communities over the past year.

Banks were honored at the third annual ECCU Bank of the Year Awards ceremony held virtually on December 16 with a live broadcast on the ECCB’s Facebook page and YouTube channel.

The three institutions were among the nine banks that took part in the 2021 edition of the initiative, winning awards in four categories:

  • ECCU Bank of the Year Award for Customer Service: The CIBC / First Caribbean International Bank (Barbados) Ltd (Antigua and Barbuda);
  • ECCU Bank of the Year Award for Pandemic and Banking Industry: 1stNational Bank St Lucia Limited;
  • ECCU Bank of the Year Award for Financial Education and Empowerment: The Bank of Saint Lucia Limited; and
  • ECCU Bank of the Year Award for Technological Innovation: 1st National Bank St Lucia Limited.
  • In his remarks at the award ceremony, ECCB Governor Timothy NJ Antoine congratulated all commercial banks and other licensed financial institutions for their service to the region during the second year of the COVID-19 pandemic.

    “You have seen the ups and downs, you have had the opportunity to close your branches due to staff outbreaks and potential exposure, and yet you have found a way to maintain your services and have continued to serve our people, ”the governor said.

    The governor also congratulated the banks for the role they have played, in collaboration with the ECCB, in helping the populations of the region through the loan repayment deferral program which, at its maximum, affected around 26 000 loans.

    MENAFN18122021000232011072ID1103391738

    Legal warning: MENAFN provides the information “as is” without warranty of any kind. We accept no responsibility for the accuracy, content, images, videos, licenses, completeness, legality or reliability of the information contained in this article. If you have any complaints or copyright issues related to this item, please contact the supplier above.


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    Four dead as armed robbers attack 3 commercial banks in Kogi – Police https://nioga.net/four-dead-as-armed-robbers-attack-3-commercial-banks-in-kogi-police/ Wed, 15 Dec 2021 04:31:49 +0000 https://nioga.net/four-dead-as-armed-robbers-attack-3-commercial-banks-in-kogi-police/ The Kogi State Police Command confirmed Tuesday’s robberies against three commercial banks in Egbe and Odo-Ere in the Yagba West Local Government Area (LGA) of the state, killing four people and injuring several others. State Police Commissioner Idris Dauda Babban, who confirmed the incident to reporters in Lokoja, however, said he was waiting to obtain […]]]>

    The Kogi State Police Command confirmed Tuesday’s robberies against three commercial banks in Egbe and Odo-Ere in the Yagba West Local Government Area (LGA) of the state, killing four people and injuring several others.

    State Police Commissioner Idris Dauda Babban, who confirmed the incident to reporters in Lokoja, however, said he was waiting to obtain details from the area commander.

    The incident, according to eyewitnesses, began around 3 p.m. Tuesday and lasted about two hours as police attempted to fend off the thieves.

    It has been learned that the thugs traveled to the town of Egbe in a Toyota Highlander SUV and other vehicles believed to have been wrested from their owners with three Bajaj motorcycles for the operation.

    The sources said the armed robbers in large numbers began their attack around 3 p.m. Tuesday when they stormed the Egbe Divisional Police Station and started shooting sporadically.

    They allegedly shelled the police station with improvised explosive devices, causing the residents to flee to safety.

    Sources added that during the operation, which lasted around two hours, the thieves allegedly left the divisional police headquarters and went to a branch of Access Bank Plc in the city.

    There they allegedly killed the security guard on duty with another person and injured several others who were rushed to the ECWA hospital in Egbe.

    Heavily armed thieves were also found to subsequently swoop down on a branch of First Bank in Egbe, which had been bankrupt for more than two years due to relentless theft attacks.

    After the success of the operation in Egbe, the thieves reportedly headed for Odo-Ere, the seat of local government in Yagba-West.

    They reportedly spent a day in the field at a branch of another older generation bank in the city after attacking the police station as residents ran for their lives.

    However, he learned that a bank security staff member was killed on the bank’s premises and that a lady in her twenties was killed by stray bullets as the thieves, after a successful operation, began to shoot indiscriminately. (NOPE)


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    South Korean commercial banks open video viewing windows https://nioga.net/south-korean-commercial-banks-open-video-viewing-windows/ Tue, 14 Dec 2021 01:35:46 +0000 https://nioga.net/south-korean-commercial-banks-open-video-viewing-windows/ This photo provided by KB Kookmin Bank shows a model demonstrating the lender’s video consultation service. SEOUL, December 14 (Korea Bizwire) – South Korea’s leading commercial banks have launched a series of video consultation windows, allowing customers to enjoy a variety of banking services through video consultations with banking specialists. Bank Woori opened its “digital […]]]>

    This photo provided by KB Kookmin Bank shows a model demonstrating the lender’s video consultation service.

    SEOUL, December 14 (Korea Bizwire)South Korea’s leading commercial banks have launched a series of video consultation windows, allowing customers to enjoy a variety of banking services through video consultations with banking specialists.

    Bank Woori opened its “digital desk” video consultation window on Monday.

    For those who visit the bank’s branches, the digital kiosk video viewing specialists provide financial services such as new deposits, savings accounts and credit loans that have been restricted to a face-to-face channel. .

    The lender said that since video viewing specialists verify users’ faces and IDs, the digital office service ensures a high level of security.

    On the same day, KB Kookmin Bank also launched the “KB video consultation service”.

    After going through non-face-to-face real name verification procedures, including capturing ID card images and confirming passwords, users can sign up or get a consultation for new filings. or savings accounts.

    The “KB video consultation service” was first introduced in five branches that are often occupied by customers.

    KB Kookmin Bank plans to expand the service’s coverage to make video viewing available online, including the company’s website and smart device apps.

    Kevin Lee (kevinlee@koreabizwire.com)



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    5 Small Financial Bank Interest Rates That Are Better Than Commercial Banks https://nioga.net/5-small-financial-bank-interest-rates-that-are-better-than-commercial-banks/ Thu, 09 Dec 2021 13:25:55 +0000 https://nioga.net/5-small-financial-bank-interest-rates-that-are-better-than-commercial-banks/ 1. Ujjivan Small Financial Bank Below are the interest rates for the national accounts (wff March 6, 2021.) as well as the non-resident accounts. Quantity Interest rate (pa) Up to 1 Lkah 4.00% > 1 lakh to 25 lakh 7.00% > 25 lakh to 10 lakh 6.00% > 10 crores 6.75% 2. Jana Small Finance […]]]>

    1. Ujjivan Small Financial Bank

    Below are the interest rates for the national accounts (wff March 6, 2021.) as well as the non-resident accounts.

    Quantity Interest rate (pa)
    Up to 1 Lkah 4.00%
    > 1 lakh to 25 lakh 7.00%
    > 25 lakh to 10 lakh 6.00%
    > 10 crores 6.75%

    2. Jana Small Finance Bank

    2. Jana Small Finance Bank

    Prices are in effect from 10/11/2021 (subject to change from time to time)

    Savings account balance “Interest rate
    Per year “
    > 0 and up to 1 lakh 3.00%
    More than 1 lakh and up to 10 lakhs 6.00%
    Over 10 Lakhs and up to 50 Crores 6.50%
    Over Rs. 50 crores 6.50%

    To note:-

    1. Interest will be calculated daily for each commodity.

    2. On July 1, October 1, January 1 and April 1 of each year, interest is paid / credited to savings accounts on a quarterly basis.

    3. Small Equitas Corporate Bank

    3. Small Equitas Corporate Bank

    Interest rate on the savings account of November 15, 2021

    Daily closing balance Interest rate
    Up to Rs 1 Lakh 3.50%
    Above Rs 1 Lakh and up to Rs 5 lakh 6.00%
    Above Rs 5 lakh and up to Rs 50 lakh 7.00%
    Above Rs 50 Lakh 5.50%

    4. AU's small financing bank

    4. AU’s small financing bank

    Interest rates applicable on savings bank deposits on October 5, 2021

    Savings account incremental amount slab ** “ Applicable interest rate (per year)
    Balances below INR 1 Lac 3.50%
    Sales from INR 1 Lac to less than INR 10 Lacs 5.00%
    Balances from INR 10 Lakes to less than INR 25 Lakes 6.00%
    Balances from INR 25 Lakes to less than INR 1 Crore 7.00%
    Balances from INR 1 Crore to less than INR 10 Crore 6.00%

    To note:-

    1. Please note that interest on savings accounts will be calculated daily and paid monthly (i.e. at the end of each month).
    2. The interest rates shown apply to additional balances that exist and correspond to the stated tile amount.
    3. Please contact your branch or relationship manager for savings account interest rates on additional amounts of INR 10 crore and above.
    4. Interest rates on savings accounts are subject to change at any time without notice.

    5. Fincare Small Finance Bank

    5. Fincare Small Finance Bank

    The interest will be applicable on July 1, 2021

    Savings account slab Interest rate (% PA)
    Up to and including 1 Lakh 4.50%
    Above 1 Lkah and including 5 lakh 6.00%
    Above 5 lakh and including 5 lakh 7.00%
    Above 1 Crore and including 2 Crore 6.00%
    Above 2 Crore and including 5 Crore 5.75%
    Above 5 Crore and including 15 Crore 4.50%
    Above 15 Crore and including 20 Crore 4.00%
    Above 20 Crore and including 30 Crore 3.25%
    Above 30 Crore and including 50 Crore 3.00%
    Above 50 Crore

    3.00%

    To note: – Interest will be applicable for the incremental balances that are present corresponding to the amount of slab mentioned


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    Nigerian traders complain about several charges imposed by commercial banks https://nioga.net/nigerian-traders-complain-about-several-charges-imposed-by-commercial-banks/ Wed, 08 Dec 2021 09:19:28 +0000 https://nioga.net/nigerian-traders-complain-about-several-charges-imposed-by-commercial-banks/ The roof is already rising with the #FirstBankIssaVybe, #DecemberIssaVybe campaigns. With FirstBank, it’s always a total experience to be woven into the fabric of society, from banking at its best, to music, fashion, the arts and sports. Across the spectrum of human activity, FirstBank stands behind its more than 32 million customers and counts. As […]]]>

    The roof is already rising with the #FirstBankIssaVybe, #DecemberIssaVybe campaigns. With FirstBank, it’s always a total experience to be woven into the fabric of society, from banking at its best, to music, fashion, the arts and sports. Across the spectrum of human activity, FirstBank stands behind its more than 32 million customers and counts.

    As FirstBank does a vybe every December every December, he is also passionate about making sure everyone is vibrating with kindness. This is in line with the words of Maurice Elias, professor of psychology, “without kindness, our communities, families, schools and classrooms become places of incivility”. As we get the blast of the season, the 127-year-old strong banking brand as part of its cuteness campaign has created a simple timeline to facilitate your ability to create a SPARK in the lives of people around you.

    At FirstBank, SPARK stands for Start Performing Acts of Random Kindness. The SPARK initiative was launched 4 years ago to make a difference in the nation by seeking to inspire and institutionalize benevolence. By fostering kindness, empathy and consideration for others, SPARK places FirstBank at the forefront of the social impact space. The unique way that FirstBank amplifies cuteness is through its various branches and departments. In this way, the Bank reaches more communities, touches more lives and spreads kindness.

    FirstBank’s Kindness Campaign is built on three (3) pillars of Compassion, Civility and Charity. Compassion and charity easily come to mind when we think of kindness, and FirstBank is an advocate to promote civility through the SPARK initiative as well. Civility covers those aspects of kindness that don’t cost you anything to use to ignite the world around you. Imagine arriving at the location of FirstBank’s next DecemberIssaVybe trade show and abandoning a parking lot closer to the event hall to the car behind you?

    FirstBank’s Global Head of Marketing and Corporate Communications, Folake Ani-Mumuney, says: “At FirstBank, we spend every moment working to make sense of the lives of our customers and audiences. We inspire kindness because it gives meaning to life and creates a happier society. So, as you live this Christmas, live with kindness. “

    Kindness doesn’t have to cost you a kobo, so click here to download and share your kindness calendar for these simple tips to start performing random acts of kindness every day in December.

    The need to promote kindness in our homes, schools, places of entertainment and society in general cannot be overemphasized, especially with the increased incidence of bullying prevalent around us. By promoting the need for benevolence in education and ‘cyber benevolence’, FirstBank sponsored two impactful webinars during its Corporate Responsibility and Sustainability Week in July 2021. You can click here to access the recordings Zoom webinars.

    Kindness should be a way of life, and FirstBank is at the forefront. Join the train of kindness, vibrate with benevolence this Christmas and always!


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    Nigerian traders call for help over multiple accusations by commercial banks https://nioga.net/nigerian-traders-call-for-help-over-multiple-accusations-by-commercial-banks/ Tue, 07 Dec 2021 10:38:58 +0000 https://nioga.net/nigerian-traders-call-for-help-over-multiple-accusations-by-commercial-banks/ The association said so in an open letter to the governor of the CBN, Dr. Godwin Emefiele, on Monday and made available to journalists in Enugu. The letter was co-signed by the President-General of SEAMATA, Chief Gozie Akudolu, and its secretary, Mr. Alex Okwudiri, respectively. According to the press release, “We have an obligation to […]]]>

    The association said so in an open letter to the governor of the CBN, Dr. Godwin Emefiele, on Monday and made available to journalists in Enugu.

    The letter was co-signed by the President-General of SEAMATA, Chief Gozie Akudolu, and its secretary, Mr. Alex Okwudiri, respectively.

    According to the press release, “We have an obligation to officially bring to your attention the indiscriminate act of financial oppression that our members and all depositors and bank account operators endure on a daily basis from commercial banks through indiscriminate fees and deductions.

    He said most transactions fall under the social responsibility of banks, adding that banks make deductions and fees for virtually all transactions, ranging from deposits to even confirmation of signing.

    The statement reads in part: “One of the main responsibilities of commercial banks, we know, is to accept deposits of money from customers and keep them safe, and to carry out other transactions for and as directed by the customer through various instruments. banking.

    “Most transactions, as we also know, are the social responsibility of banks. But today, banks make deductions and fees for virtually everything from deposits to even confirmation of signing.

    “The CBN’s cashless economy policy has been of immense benefit to our members, especially as it minimizes armed robbery attacks by our members, resulting in loss of fortunes and even of lives. However, today no one carries huge cash on business trips.

    Commercial banks themselves become “siphons” for bank customers through blind fees and deductions, especially in online transactions.

    “When a customer makes a money transfer online, the transferor is debited with a certain amount of money deducted from their account and the recipient’s account is also debited and deductions are made to receive the money.

    “In addition, fees and deductions are also made for text messages, which most of the time were not received. Finally, at intervals, charges and deductions will be made to the same account as the service charge.

    “Sir, the banks are tightening our necks and we are financially strangling. Our members had approached the banks individually to complain but without success.

    “Our only alternative is to bring to your attention our plight and, indeed, the plight of all bank customers and to ask very humbly and respectfully that you require the banks to have compassion for customers and to stop immediately blind charges and deductions and if possible, refund all deductions.

    “The association has decided to go through your office for the resolution of this case instead of besieging the bank offices with protesters, which is far from what our nation needs now.”

    The statement said that the association strongly believes in the ability, strong commitment and willingness of CBN to successfully resolve this matter once the umbrella bank has embarked on it.

    “We are led by this association to bring you (Emefiele) warm greetings from its esteemed members and congratulate you on your good work in managing the nation’s monetary policy well and regulating the operations of commercial banks in the country.” , he added.


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