Bank of Ghana intensifies fight against cyber attacks

GHANA – The Bank of Ghana (BoG) has intensified efforts to protect banks and other financial institutions from possible cyber-attacks amid surging rise in the use of the internet to transact businesses. Mrs. Elsie Addo Awadzi, 2nd Deputy Governor of the BoG said the approach of the regulator to addressing cyber risks in the banking and payments ecosystem is designed to safeguard operational resilience, safety, soundness, and integrity of the entire system while promoting confidence in the use of financial services. Key issues to be addressed from a regulatory perspective…

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UBA reports profit of US$77.18m for first quarter of 2020

NIGERIA – The United Bank for Africa Group (UBA) Plc has announced a gross earning of N147.2 billion (US$377.44m) for the first quarter(Q1) ended March 31, 2020, up from the N131.7 billion (US$337.69m) posted in the corresponding period of 2019.  Net interest income rose to N65.417 billion (US$167.74m), compared with N58.075 billion (US$148.91m) in 2019. The bank leveraged on modest growth in both interest and non-interest income as well as increased efficiency to deliver an 8.5 per cent growth in profit before tax (PBT) to N32.7 billion (US$83.85m), compared with…

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UBA deploys US$14m to combat COVID-19 pandemic in 20 African countries

NIGERIA – United Bank for Africa Plc (UBA) announced it was deploying US$14 million (N5 billion) through the UBA Foundation to combat COVID-19 in 20 African countries. The Bank said the donation will provide significant and much needed support to Nigeria and 19 other African countries by supplying relief materials, critical care facilities, and financial support to governments. “This is a time when we must all play our part. This global epidemic must bring citizens, governments and business leaders together – and quickly,” said UBA Group Chairman Tony O. Elumelu.…

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