Nigerian lender First City Monument Bank posted a 14 percent decline in first-half pre-tax profit to N9.56 billion ($48 million) versus a year ago, it said on Wednesday.
Gross earnings however rose to N77.35 billion in the six months to end-June against N69.82 billion in the same period of last year, the mid-tier lender said in a statement.
The bank said its loan loss expenses rose to N3.74 billion from N2.53 billion the previous year, reports Reuters.
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