May 5, 2020 / 3:13 PM / a month ago

Nigeria's FCMB sees coronavirus driving credit growth for healthy companies

ABUJA, May 5 (Reuters) - Nigerian mid-tier lender FCMB is targeting a loan growth of 10% to 14% this year as the impact of a new coronavirus pandemic leads to an increase in credit for companies that can weather the crisis, the bank said on Tuesday.

The bank said it was restructuring half its loan portfolio in line with regulatory forbearance granted by the central bank and the accounting standards on the pandemic. The bank expects to complete the restructuring within the next two weeks. (Reporting by Chijioke Ohuocha; editing by David Evans)

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