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UBA Ghana records N2.04 bn profit after tax in 2011

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The United Bank for Africa Ghana Limited, a subsidiary of UBA Plc, has announced a profit after tax of $12.72 million (about N2.035bn or GH¢22.4 million) for 2011, from $5.20 million (GH¢9.2 million) in 2010.


Interbank rates fall on matured T-bills

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From Ngozi Onyeakusi, Lagos

Nigeria's interbank lending rates fell this week to an average of 14.41 percent, down from 15.33 percent last week, as matured treasury bill funds boosted liquidity and helped ease pressure on the cost of borrowing, traders said.


Diamond Bank to boost network, considers purchases

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Diamond Bank Plc, the 10th-largest Nigerian lender by market value, wants to expand its branch network in Africa's biggest oil producer by more than 50 percent over two years, and may make acquisitions to spur growth.


Distressed MFBs: NDIC to prosecute directors over N7bn loans

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The Nigerian Deposit Insurance Corporation (NDIC) has said that it has launched investigation into the N7 billion owed the 103 distressed Micro-Finance Banks (MFBs) by their various directors and other managers will bring the full weight of the law to bear on anybody found to be owing them.


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