Diamond’s Atlas Mara Swings to Profit After Impairments Drop

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  • Reduced bad loans at BancABC unit in Southern Africa
  • Seeks a presence in `all four trading blocks in Africa'

Atlas Mara, co-founded by the former head of Barclays Plc Diamond and Ugandan entrepreneur Ashish Thakkar, has been expanding by buying African financial services companies.

Photographer: Patrick T. Fallon/Bloomberg

Robert Diamond’s Atlas Mara Ltd., the banking group that has acquired African lenders, reported its first half-year profit after reducing impairments at one of its units.

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