Brics bank reports 24% fall in profit in first nine months of 2021

The New Development Bank , the multilateral development financier set up by Brazil, Russia, India, China and SA , said profit fell more than 24% in the first nine months of 2021.

The Shanghai-headquartered bank, which was often referred to as the Brics bank previously in honour of its founding nations, said profit in the nine months ended September 30 fell to $96m, down from $124m in the corresponding period the previous year, according to a statement posted on the stock exchange news service on Monday...

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