FCMB Group’s half-year profit jumps 68% after higher lending rates boost revenue

FCMB Group made capital out of the three upward reviews of the benchmark interest rate by monetary authorities in Nigeria between January and June.

The development set the tone for a 68 per cent increase in net profit, compared to the same period of 2022, and drove revenue.

Shares in the financial services group rose 5.3 per cent, placing it among the top 5 gainers in Lagos on Wednesday following the release of its financial report.

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