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Nigeria FBN Holdings sees no need to raise equity after loan loss

Wed Apr 27, 2016/Reuters Nigeria’s biggest banking group FBN Holdings has no need to tap equity markets after an unexpected 119 billion naira ($600 mln) loan loss provision last year but will keep loan growth flat to boost capital, its CEO said on Wednesday. CEO Urum Kalu Eke said the […]

Diamond Bank 2015 Profit Drops 77.8% to N5.66 Billion

By InvestAdvocate Lagos (INVESTADVOCATE)-Diamond Bank Plc said on Wednesday its profit after tax (PAT) for the period ended December 31, 2015 dropped 77.8 percent to N5.66 billion from N25.48 billion posted a year earlier. Similarly, profit before tax (PBT) of the Bank declined 74.8 percent to N7.09 billion from N28.10 […]

AG Leventis (Nigeria) Enters into Joint Venture Agreement with Pick N Pay

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s leading congloromate in several industries, AG Leventis (Nigeria) Plc said on Tuesday it has entered into a joint venture agreement with South African Pick N Pay Retailers Limited. “The indicative scope of services by the new company to be formed pursuant to the joint […]