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Atlas Mara says Nigerian and Middle East banks among suitors for Africa assets

Atlas Mara says Nigerian and Middle East banks among suitors for Africa assets
Company started by Bob Diamond says it has completed its restructuring process, and extended a standstill agreement with its creditors to May 17
05 May 2021 - 21:03 Dinesh Nair, Loni Prinsloo and Emele Onu
Bob Diamond. Picture: BLOOMBERG
Atlas Mara, the pan-African banking group started by Bob Diamond, has drawn interest from Nigerian and Middle Eastern lenders for its remaining assets on the continent, according to people familiar with the matter.
The London-listed group has received a number of approaches for its 49.97% holding in Lagos-based Union Bank of Nigeria, the people said, asking not to be identified as the talks are private. Nigeria’s Zenith Bank and Access Bank are among suitors that have expressed interest, alongside other African rivals such as Morocco’s Attijariwafa Bank, the people said. ....

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UPDATE 1-Nigeria's Zenith Bank targets 5.5% rise in pretax profit in 2021

By Reuters Staff
(Adds details)
ABUJA, Feb 25 (Reuters) - Nigeria’s Zenith Bank is aiming for a pretax profit of 270 billion naira ($709 million) this year, up 5.5% from a year earlier, the bank said on Thursday.
The top tier lender made a 255.9 billion naira pretax profit in 2020, narrowly beating its guidance.
Zenith said it was aiming for 10% loan growth this year, down from 18.6% in 2020 after a currency depreciation at the end of last year helped boost the value of loans priced in naira.
Nigeria exited recession in the fourth quarter despite a full-year contraction in 2020. The country devalued the currency last year in an attempt to align multiple quoted currency rates. But the naira has continued to weaken. ....

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Nigeria's Zenith Bank targets 5.5% rise in pretax profit in 2021

Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited.
He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media.
He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010.
Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos.
He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists).
Over the years, he has won a number of journalism awards.
Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news. ....

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Nigeria's Zenith Bank targets 5.5% rise in pretax profit in 2021

Nigeria's Zenith Bank targets 5.5% rise in pretax profit in 2021
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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UPDATE 1-Nigeria's Zenith Bank targets 5.5% rise in pretax profit in 2021

UPDATE 1-Nigeria's Zenith Bank targets 5.5% rise in pretax profit in 2021
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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