The ASSET Management corporation of Nigeria AMCON said that they have recorded the lost of #630 billion in accordance to its operations to the International Financial reporting standard IFRS, statement for the year 2013
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It stands that the corporation has made an improvement of 10.3 percent from the 2012 loss which was #702.4 billion.
Specifically, gross earnings increased by 50.5 per cent Year on Year. The corporation’s top line grew by a significant 50.0 per cent from N182.7billion in 2012 to N274.9 billion in 2013. The improvement in top and bottom lines were both driven by 21.9 per cent increase in interest income to N181.3billion in 2013 from N148.7billion in 2012. Non-interest income also contributed to the growth in top line, increasing 15.9 per cent to N16.3billion in 2013 from N14.0billion in 2012 - See more at: http://www.vanguardngr.com/2014/09/amcon-records-n630bn-loss-operations/#sthash.IZAzIzJB.dpuf