The interest rate hike implemented by the Monetary Policy Committee of the Central Bank of Nigeria in an attempt to combat rising inflation has raised the combined net interest incomes of eight Deposit Money Banks by 163.19 per cent to N4.79tn for the first half of 2024.
This indicates a surge from the N1.82tn recorded in the same period last year, according to an analysis of their financial reports ending June 2024.
The PUNCH analysis of…
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