Wednesday, November 14, 2018
Advertisement
    ETI posts the biggest quarterly profit in two years

ETI posts the biggest quarterly profit in two years

Ecobank Transnational Inc (ETI) closed its first quarter operations in March 2018 with the biggest quarterly profit in more than two years. With an after tax profit of N27.86 billion, the West Africa bank is sustaining the upturn in operating performance that saw a turnaround from a loss of N52.60 billion in 2016 to a top record profit of nearly [...]

0 comments Read Full Article
    Diamond Bank: Will loss grow or profit return?

Diamond Bank: Will loss grow or profit return?

Diamond Bank’s three years of falling profit degenerated into a loss in 2017 and a clear direction is lacking so far this year on its earnings prospects. Whether the bad trend will continue with a possibly bigger loss or whether a return to profit will be attained remains clouded as the bank finished first quarter trading with just one step [...]

0 comments Read Full Article
    FBN Holdings: Can it sustain recovery?

FBN Holdings: Can it sustain recovery?

FBN Holdings reversed a two-year drop in profit at the end 2017 and lifted profit by 233% to N40 billion in the year. That still leaves the bank a long way to full recovery to the peak net profit figure of over N84 billion it posted in 2014. Will progress be sustained towards recovery with a disappointing first quarter is [...]

0 comments Read Full Article
    FCMB: Defending profit under tight earnings

FCMB: Defending profit under tight earnings

First City Monument Bank (FCMB) faced a tight earnings situation in the first quarter of the current financial year but management appears determined to keep profit from dropping for the second year. The bank had lost 34% of its prior year’s profit in 2017 after losing more than one-half of other operating income. A continuing drop in that income line [...]

0 comments Read Full Article
    Oando trims operations to build profit

Oando trims operations to build profit

Oando’s resolve to discontinue some lines of operations has enabled the company to shape up to a profitable structure. Profit from discontinued operations stood in excess of N29 billion in 2016 and provided the strength that turned a loss of N25.4 billion into an after tax profit of nearly N4 billion in that year.Further discontinuation of operations happened in 2017, [...]

0 comments Read Full Article
    Stanbic IBTC: Recovery and growth accomplished

Stanbic IBTC: Recovery and growth accomplished

Stanbic IBTC Bank has successfully picked its way up from a 47% drop in profit in 2015 and returned to the path of growth in 2017. Profit has crossed the 2014 mark and climbed to a new peak in line with forecast. A massive growth in loan loss expenses had caused the profit fall in 2015 and a slowdown for [...]

0 comments Read Full Article
    Access Bank: Profit drops on loss of trading income, rising credit losses

Access Bank: Profit drops on loss of trading income, rising credit losses

After three years of sustained profit improvements, Access Bank closed the 2017 operations with a profit drop, as loss on investment securities and rising credit losses hurt profit performance. The bank’s profit had slowdown sharply in 2016, which extended into a drop in 2017.Net gains on investment securities collapsed from N55 billion into a net loss of over N33 billion [...]

0 comments Read Full Article
    Unilever Nigeria: Another triple digit leap in profit

Unilever Nigeria: Another triple digit leap in profit

Unilever Nigeria lifted after tax profit by over 142% to N7.45 billion in 2017, maintaining triple digit profit leap for the second year after a 158% rebound gave the conglomerate a new growth momentum in 2016. This is a new profit high for the company since it lost nearly one-half of after tax profit in 2014.For the first time in [...]

0 comments Read Full Article
    Guaranty Trust Bank lifts profit with drop in loan losses

Guaranty Trust Bank lifts profit with drop in loan losses

Guaranty Trust Bank lifted after tax profit by 29% to N170.47 billion at the end of 2017, just on target with our full year projection of N170 billion for the bank. The profit growth came largely from a drop of 81% in loan impairment charges, as revenue ended flat also as anticipated. The drop in credit losses saved over N53 [...]

0 comments Read Full Article
    Trading income lifts Zenith Bank from loan impairment hit

Trading income lifts Zenith Bank from loan impairment hit

Loan impairment charges more than tripled to N98.23 billion for Zenith Bank in 2017 but management used a 456% advance in trading gains to level up the impact of credit losses on the income statement and still achieved an accelerated growth in profit. The galloping growth in loan loss expenses for the second year and the phenomenal rise in gains [...]

0 comments Read Full Article
Advertisement
Advertisement

 

Advertisement

Advertisement

Exchange Rates

November 13, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement