Nigeria’s biggest bank sees 82% drop in profit as economy slows

by | April 27, 2016 11:17 am

FBN Holdings Plc, Nigeria’s largest lender, said profit slumped in 2015 as the plunge in oil prices weighed on Africa’s biggest producer. Net income declined 82 percent to 15 billion naira ($76 million) from 84 billion naira in 2014, the Lagos-based bank said in a statement Tuesday. Provisions for loan losses jumped to 119 billion…

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