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First Bank Sustained earnings recovery amid further clean-up

First Bank

  Stronger FULL YEAR-19E earnings on the cards, supported by e-banking income    We expect Profit After Tax (PAT) to grow by 19.2 percent year-on-year to N71.22bn in full year 2019. Our higher earnings forecast is hinged on non-interest income growth (+10.0 percent year-on-year) and sustained decline in impairment charges (-13.4 percent year-on-year).   In…

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