Connect with us

Business

Signal Fabrics opens New Branch in IV, Lagos

Published

on

Labake Adeola, the industrious fashion entrepreneur has carved a niche for herself among fashion buffs.

According to her, being rich shouldn’t be confused with possessing panache but many a deep-pocket mistake extravagance for elegance.

“You do not have to be extravagant to be elegant. At Signal Fabric, everyone is classic. Its not the price of your fabrics that stands you out, its what you make with it and how you can spice it up that translate to elegance; it is what differentiates the commoner from the classical.”, and that’s what SIGNAL FABRICS is known for.

Style becomes the essence of every woman, according to Labake. Thus like an emperor of immeasurable chic, her fascination with good fabrics and elaborate lines comes alive in her range of bespoke latest and talk of the town attires. Although her specialty encompasses formal and informal female clothing’s.

There is no gainsaying Labake’s love for classy couture blossomed quite early in her youth; according to her, she developed a fascination with fashion when she started over 20 years ago and have customers across board.

“We started over 20 years ago and have customers across board and we have been able to keep them all these years”.

“Anything you do it’s always best to be upright, sincerity, openness and customer satisfaction has been our key factors for sustenance”.

Labake’s love for fashion and taste for quality was copied from her mum, whom they both started Signal Fabrics from Alade Market in Ikeja Lagos, but the mother did not live long to see it blossom.

Signal Fabrics officially opens its new branch to clients from all over, penultimate Sunday, located on Ajose Adeogun street, Victoria Island Lagos, with its head office at Martins Street, Lagos Island.

The event had in attendance her family, friends, long time customers, society women, and well-wishers who came out to celebrate with the mother of three wonderful boys.

Amongst the guests were, Yeye Yetunde Ogbemudia of Nodony Fashion House, Olori Tokunbo Eko, Socialite Wosilat Seriki, among other several faces at the event.

Business

GTBank Builds Nigeria’s First Digital Play Centre for Children

Published

on

 

Banks only build branches, or so the story goes. Except for Guaranty Trust Bank Plc; the foremost African financial institution, which has been at the forefront of several innovative products and services, recently completed and opened the first digital playground for children in Nigeria.

Located in Lekki, Lagos State, the GTBank Play Centre is equipped with a wide range of interactive games that will give kids a fun and immersive digital experience whilst aiding their mental and intellectual development. Open from 10am to 3pm on Weekdays, and 10am to 1pm on Saturdays, some of the features of the Play Centre include the Sketch Town, where kids can design cars, launch rockets, and bring all their sketches to life. At the playground, children can also use the wide range of bricks available to build whatever excites their curiosity and also express themselves creatively by scribbling, writing and drawing on a digital chalkboard.

GTBank is renowned for designing innovative and personalized products and services that are tailored to customers’ unique needs and which fit seamlessly with their lifestyles. Recently, the Bank launched Habari, a digital platform that gives customers unlimited access to local and international music, and at the same time, allows them to shop online, split bills with friends and take care of their everyday needs, in one place. Habari, like the GTBank Play Centre, is the first of its kind in Nigeria, reflecting the Bank’s digital drive as well as its focus on creating unique experiences for all segments of its customer base.

Commenting on the launch of the Play Centre, the Managing Director and Chief Executive Officer of Guaranty Trust Bank plc, Mr Segun Agbaje said; “How and where children play contributes significantly to their cognitive and intellectual development, helping them build better communication and problem-solving skills. Our new Play Centre will give children a tension-free space to build these critical developmental skills, expose them to new and emerging digital technologies, and, most importantly, give them a wonderful time out.”

He further stated that “At GTBank we are passionate about building the bank of the future, and for us, this means constantly leveraging the best of technology to create amazing digital experiences for all of our customers, in a way that adds real value to their lives.”

Guaranty Trust Bank is one of the best run African financial institutions and serves as a role model within the financial service industry due to its bias for world-class corporate governance standards, excellent service quality, and innovation. The Bank is also renowned for driving youth empowerment initiatives alongside its business, as seen with the GTCrea8 Account package, which doubles up as a platform for empowering young undergraduates with the resources and networking that they need to develop their skills and talents and build capacity in their careers of choice.

 

Continue Reading

Business

Access & Diamond get final approval for merger

Published

on

Nigeria News

 

Access Bank Plc and Diamond Bank Plc have gotten final merger approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).

The two financial institutions, in separate corporate disclosures issued on the Nigerian Stock Exchange (NSE) at the weekend, confirmed that the approvals have been secured.

“Access Bank Plc is pleased to announce that the bank has received the final approval of both the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to the proposed scheme of merger between the bank and Diamond Bank Plc,” a statement by Access Bank disclosed.

“The scheme is subject to judicial sanction by the Federal High Court. We will provide further update to the market upon receipt of court sanction of the scheme.”

 

Continue Reading

Business

Zenith Bank’s Improved PBT of N232Billion Excites Shareholders, with Dividend Offer of N2.80 Per Share

Published

on

In a clear show of its resilience and strong market share, Zenith Bank has announced an impressive result for the year ended December 31, 2018 with profit before tax (PBT) rising to N232 billion for the 12 months ended December 31, 2018.

Also, in demonstration of its commitment to its shareholders, the bank has announced a proposed final dividend pay-out of N2.50 per share, bringing the total dividend to N2.80 per share, representing a yield of 11.2 per cent.

According to the bank’s audited financial results for the 2018 financial year released in Lagos on Tuesday, this represents an increase of 16.6 percent over the N199 billion recorded for the same period in 2017. It is the highest so far published by any bank in the Nigerian Banking Industry in the current reporting period. Also, the results showed that profit after tax (PAT) witnessed an impressive growth of 11 per cent year-on-year to N193 billion from N174 billion.

This record profit before tax (PBT) was achieved through the Group’s optimisation of its cost of funds, cost-to-income ratio and cost of risk, ensuring that earnings per share strengthened by 11% to ₦6.15.

Despite the challenging macro-environment, the Group mitigated the knock-on effects through growth of its net interest income and operating income by 15% and 8% respectively as it was able to ensure improved cost efficiencies across the business. This focus on cost efficiencies is yielding tangible benefits as the Group recorded its lowest ever cost-to-income ratio at 49.3% from 52.8% in 2017.

The bank’s balance sheet remains shockproof as loan to deposit ratio, liquidity ratio and capital adequacy ratio were 44.2%, 72.0% and 25.0% respectively and all above the regulatory threshold.

Our risk-centric approach also ensured that cost of risk reduced significantly by 79% from 4.3% in the prior year to 0.9% in 2018. This was reflected through the drop-off in impairment charges by 81% (₦80 billion) compared to 2017, re-affirming the Group’s enhanced asset quality. In the same breadth, coverage ratio increased by 34.2% from 143.4% to 192.4% over the same period, reflecting a prudent disposition to credit risk management. Cost of funds also moved in the positive direction, declining by 41% from 5.2% in 2017 to 3.1% for the year, supported by a 33% decrease in interest expense (₦72 billion) over the same period, demonstrating a robust treasury and liquidity management.

Customer deposits grew by 7% led by an increase of ₦109 billion in savings and an increase of N122bn in current accounts providing it with a platform to rebalance its deposits mix. In 2018, expensively purchased deposits were foregone in favour of cheaper and more stable deposits resulting in a reduction of expensive and shorter dated deposits by ₦110 billion. On the asset front, this increased by 6% to close the year at ₦6 trillion.

The Group’s efforts to deepen its roots in the retail segment have started yielding benefits. This has resulted in a remarkable increase in the volume of transactions across various electronic platforms as well as significant customer acquisitions. This growth in transactions on its digital channels continues to support its retail push as fees from e-products increased by 44% over 2017 with retail deposit balances also growing by 25%.
Management’s outlook is positive for 2019, supported by a fairly stable inflation rate, converging foreign exchange market and near target oil production. The Group will continue its investment in the retail segment of the market to consolidate its leadership position in both the retail and corporate segments while it maintains its shock proof balance sheet.

Consistent with this superlative performance and in recognition of its track record of excellent performance,the bank was recently ranked as the Most Valuable Banking Brand in Nigeria in 2018 by The Banker Magazine. In similar fashion, Zenith Bank was recognized as the Best Corporate Governance Bank in Nigeria by The World Finance for the sixth time just as Ethical Boardroom, a Europe based Boardroom watchdog reaffirmed this recognition by naming the bank as the Best Bank in Corporate Governance in 2018.Recognition has also come the way of the bank as it was recently named as the Best Institution in Sustainability Reporting in Africa 2018 (SERAS Awards) and the Bank of the Year 2018 (BusinessDay).

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending