FCMB to Expand Outside Nigeria as Oil Slump Hits Home Market

  • Lender identifies East and West Africa as key areas for growth
  • Lagos-based group sees trying times for home market, CFO says

FCMB Group Plc, a Nigerian lender, plans to expand in at least two African countries as the plunge in oil prices reduces opportunities and income for banks operating in the continent’s biggest producer of the commodity.

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