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Daily Business News Brief – April 17th, 2024

17
Apr

Equities market posts biggest loss in April as investors lose N1.1trn – Dailytrust
The Nigerian Exchange (NGX) market capitalisation recorded the biggest loss in the month of April with investors losing N1.1trn.
For eight consecutive trading days, the Nigeria bourse extended its losing streak as the benchmark index closed 1.93% weaker – the biggest single day decline since 19 February – to close at 99,808.34, according to analysis of yesterday’s trading……………………………………………………………… ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Transcorp Power targets 740MW December – Punch
Transcorp Power Plc says it is planning to raise its power-generating capacity to 740 Megawatts, up from the current 550MW capacity by December 2024.
The Managing Director/Chief Executive Officer of the company, Peter Ikenga, disclosed this Monday while presenting the company’s report for the year 2023.
Ikenga said the company was able to increase its earnings despite the challenges of the previous year……………………………………………………………. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Customers’ Deposit, FX Revaluation Lifts 11 Banks’ Total Assets by 68% to N115.45tn – Thisday
Following a robust growth in customers’ deposit and foreign exchange revaluation, 11 banks listed on the Nigerian Exchange Limited (NGX) posted N115.45 trillion total assets in 2023, a growth of 68 per cent from N68.85 trillion in 2022.
The 11 banks are: Access Holdings Plc, FBN Holdings Plc, Zenith Bank Plc, United Bank for Africa (UBA) and Guaranty Trust Holding Company Plc (GTCO).. .,…. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Fidelity Bank Reports N124.26bn Profit, Declares N0.60 Final Dividend – Thisday
Fidelity Bank Plc, has released its 2023 full year Audited Financial Statements, reporting a 131.5 per cent growth in Profit Before Tax to N124.26 billion from N53.7 billion reported in 2022.
According to the results, which was issued to the Nigerian Exchange Limited (NGX), the bank grew Gross Earnings by 64.9per cent YoY to N555.83 billion, . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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