October 24, 2011 7:21 PM SAST
Nigeria's FCMB 9-month pre-tax profit up 62 pct
Nigeria's FCMB 9-month pre-tax profit up 62 pct
Nigeria's First City Monument Bank said on Monday its pre-tax profit rose by 62 percent to 9.88 billion naira for the nine months to September, from 6.10 billion naira in the same period a year ago.
The bank's gross earnings also rose to 54.99 billion naira in the period from 44.55 billion naira last year, while loan and advances dropped to 318.91 billion naira from 326.89 billion a year earlier.
First City Monument Bank acquired peer Finbank last month as part of measures to recapitalised the formerly rescued lender.
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