Zenith Bank Plc has officially launched its subsidiary in Côte d’Ivoire, a strategic move to bolster its presence in Francophone West Africa and enhance financial intermediation within the West African Economic and Monetary Union (WAEMU).
The new subsidiary, licensed in December 2025, will operate from Abidjan and aims to facilitate cross-border trade and investment by offering corporate banking, trade finance, and structured financial solutions.
Group Managing Director/CEO, Dame Dr. Adaora Umeoji, stated that the launch is a significant step in realizing the vision of building a global brand with a strong African footprint.
Coronation Insurance Plc is set to raise N9.26 billion through a private placement, having received shareholder approval at an Extraordinary General Meeting on April 24, 2026. This capital raise is intended to strengthen the company's financial base and support future growth.
The approved capital raise includes approximately N9 billion in new share issuance and N257 million for transaction costs. The shares will be priced at N2.16 each.
This move follows Coronation Insurance's audited financial results for 2025, which showed a 30.4% decline in pre-tax profit to N9.65 billion, primarily due to the absence of a significant foreign exchange gain recorded in the previous year. However, revenue saw a substantial increase of 51.4% to N74.83 billion.
Nigerian Breweries Plc announced a Profit After Tax of N55.95 billion for the first quarter ended March 31, 2026. This represents a 25.6% increase compared to N44.55 billion in Q1 2025.
The company's revenue grew by 8% to N413.02 billion in Q1 2026, up from N383.64 billion in the prior year. This performance was attributed to strong revenue management, the success of premium brands, and disciplined cost control measures, including a 55% decrease in net finance expenses.
United Capital Plc reported a 66.2% surge in net profit for Q1 2026, reaching N9.8 billion from N5.9 billion in the same period of 2025. Gross earnings increased by nearly a third to N17.2 billion.
The financial and investment services company's earnings growth was driven by improved fee and commission income and net gains on financial assets. Despite the overall strong performance, its newly established West Africa asset management subsidiary, UCAMAL, posted a loss of N258.4 million.
