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First Bank, Zenith, GTCO, Suffer N1.2tn Forex Losses As CBN Tightens Regulations

Summary by The Whistler Nigeria

… UBA FX Gains Dropped By N477.5bn Nigeria’s first-tier banks are no longer celebrating bumper foreign exchange gains as the Central Bank of Nigeria has narrowed avenues for arbitration. At least three tier-one banks suffered N1.16tn losses, while N477.5bn slashed United Bank for Africa’s (UBA) foreign exchange gains in the full year of 2024 as the spread between the official forex and parallel market rates fell below one per cent. The tier-one …

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thecondia.com

Stanbic IBTC's fintech subsidiary Zest widens losses to ₦2 billion in 2024

Zest Payments Limited, the fintech subsidiary of Stanbic IBTC Holdings Plc, reported a ₦2 billion ($1,296,890) loss for the full year 2024

2 days ago

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worldstagenews.com

Zenith Bank, GTCO, UBA, three other Nigerian banks record N3trn profit amid complaints, challenges - Worldstage

Six banks in the country have posted N3.41 trillion as Profit After Tax (PAT) for the year 2024 ended as against the N2.1 trillion recorded in 2023 financial year. This is in spite of diverse transaction and service complaints, dissatisfaction among customers and the challenging economic situation of the country. The figure represents a 62.38 per cent increase from the amount recorded during the 2023 financial year (FY). The News Agency of Niger…

3 days ago

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Freedom Online

UBA, GTCO, four others record N3trn profit amid complaints, challenges

Six banks in the country have posted N3.41 trillion as Profit After Tax (PAT) for the year 2024 ended as against the N2.1 trillion recorded in 2023 financial year. This is in spite of diverse transaction and service complaints, dissatisfaction among customers and the challenging economic situation of the country. The figure represents a 62.38 […] The post UBA, GTCO, four others record N3trn profit amid complaints, challenges appeared first on Fr…

3 days ago

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