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FX transactions boost Stanbic income

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STANBIC Bank has reported a 572 percent rise in its inflation-adjusted half-year profit, underpinned by the surge in foreign currency-denominated transaction volumes. Together with the improved tobacco selling season, the bank’s activities kept shifting from local to foreign currencies. The bank’s profit stood at $372,9 billion during the period under review, up from $55,5 billion…

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