Seven Nigerian banks are undercapitalized to the tune of N1tn ($3.2bn) according to a report from Arqaam Capital, a Dubai-based international investment bank.
The report lists the undercapitalised banks as
First Bank of Nigeria,
Unity Bank Plc,
Diamond Bank Plc,
Skye Bank Plc,
FCMB Group...
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First City Monument Bank Group Plc, yesterday, reported a profit before tax (PBT) of N16.3bn for the six months ended June 30, 2016.
The report represented an increase of 70% from N9.6bn recorded in the comparative period of 2015.
The bank partly attributed the leap in profit to foreign...
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