shook off the cost pressures from pandemic lockdowns that depressed its bottom-line by 9.6 per cent in 2020 to record a post-tax profit, which jumped eight times over the previous year, according to the financials of the Abuja-based development bank seen by PREMIUM TIMES.
More than it did the year before, the government-controlled lender earned the bulk of its interest income from investment in debt instruments. But for all that, the coronavirus crisis, although not widely devastating as it was in 2021, still had its reverberations across the balance sheet.
This is great news for VC industry.
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