First Capital assets double on forex holdings

The Victoria Stock Exchange (VFEX) listed financial institution also saw its regulatory capital increase 115 percent in the period under review.

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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