Nigeria's FCMB sees flat loan growth, eyes UK retail licence: CEO

Reuters

LAGOS (Reuters) - Nigerian mid-tier lender FCMB expects loan growth to be flat this year after it rose 5.4 percent last year as oil companies pay down debt, its chief executive said on Friday. Ladi Balogun said the group was seeking a retail banking licence for its British-based unit, which offers wholesale banking to boost its balance sheet. He said the mid-tier bank took a 50 percent impairment of 2.3 billion naira on loans to debt-laden 9mobile, which is in talks with investors to take over the telecoms firm. (Reporting by Chijioke Ohuocha, editing by David Evans)