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Naira devaluation boosts foreign subsidiaries’ earnings contribution to Nigerian banks – Fitch

The sharp depreciation of the naira between 2023 and 2024 significantly increased the contribution of foreign subsidiaries to the earnings and asset base of Nigerian banking groups

Israel OjokoSeptember 17, 20261 min read
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The sharp depreciation of the naira between 2023 and 2024 significantly increased the contribution of foreign subsidiaries to the earnings and asset base of Nigerian banking groups, according to a new report by Fitch Ratings.

The post Naira devaluation boosts foreign subsidiaries’ earnings contribution to Nigerian banks – Fitch appeared first on Nairametrics.

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