First Bank shares gain most in two months as biggest bad loan gives way

Moody’s gives thumbs up to FBN on 14.5% NPL ratio

First Bank

Shares of First Bank of Nigeria Holdings rallied Wednesday as a big decline in the tier-one lender’s NonPerforming Loans (NPLS) caught the eye of investors and offered some reassurance that the bank was on track to cut bad loans to within single digits by year-end. The lender’s stock climbed 2.

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