FCMB pays N6.96bn for 60% stake in Legacy

First City Monument Bank Plc has acquired additional 60 percent stake in Legacy Pension Managers Limited for N6.96 billion as analysts are betting that the new acquisition could underpin the lenders future earnings. The Nigerian lender intends to leverage on its holdings of the subsidiary to diversify its earnings and increase profitability. Analysts concur with…

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The post FCMB pays N6.96bn for 60% stake in Legacy appeared first on BusinessDay : News you can trust.

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Author: BALA AUGIE