Stanbic IBTC Holdings, the local operation of Africa’s largest bank, Johannesburg-based Standard Bank Group, turned the high-interest rate environment in Nigeria to its advantage to post a 79.8 per cent profit rise for the last quarter.
Its earnings report, out on Friday, showed interest income at N180.5 billion, more than half the figure it reported a year earlier.
It underscores how the tide of the Central Bank of Nigeria’s prolonged hawkish stance on interest rate is still…
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