Financial Services

In the second quarter of 2020, Aiico Insurance Plc grew its revenue significantly by 164% from N2.43 billion in the second quarter of 2019 to N10.10 billion in the period under review. United Capital Plc also grew its revenue by 37% from N3.24 billion to N4.45 billion. In this period, NEM Insurance Plc recorded the highest decrease in revenue (60% - from N10.59 billion to N4.27 billiion), while NPF Microfinance Bank (1%) and Guinea Insurance Plc (1%) both recorded the lowest decrease in revenue. The revenue of African Veritas Kapital Assurance dipped by 24%, Sovereign Trust Insurance Plc dipped by 24%, Alliance Insurance Plc dipped by 17%, Infinity Tust Mortgage Bank by 13%, African Prudential bank by 7% and Wema Bank by 7%.

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