First Capital assets double on forex holdings

FCB entered into a share purchase agreement with ASB Hospitality LLC in September last year for the disposal of its shareholding in Makasa Sun in a deal worth US$30 million.

FIRST Capital Bank shrugged off the impact of the local currency devaluation to grow its asset base by 124 percent during the nine months to October 31, 2024 thanks to a strategic boost in foreign currency holdings.The near 43 percent devaluation of the ZiG by the authorities in September 2024 decimated the financial sector balance…

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