202% profit growth reported by Nigeria's AMCON in 2023, with fair valuation gains on Eligible Bank Assets increasing by NGN40.9 billion.
Despite economic challenges, Nigeria's Asset Management Corporation of Nigeria (AMCON) reported a triple-digit profit growth of 202% in 2023, rising from NGN34.730 billion in 2022 to NGN108.433 billion. AMCON's fair valuation gains on Eligible Bank Assets (EBAs) increased to N40.9 billion in 2023 from a loss of N187.9 billion in 2022. The equity portfolio also showed an 82% growth in 2023, amounting to N43 billion.
June 26, 2024
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