Diamond Bank Profit before tax drops by 74.8%

Diamond Bank Profit before tax drops by 74.8%

Diamond Bank Plc before tax dropped to N7.1 billion from N28.10 billion in 2014, a decrease of 74.8 per cent.

The report is contained in the bank’s audited result released on Wednesday in Lagos by the Nigerian Stock Exchange where it declared gross earnings of N217.09 billion for the financial year ended December, 31, 2015.

Diamond Bank profit after tax also dropped by 77.8 percent from N25.49 billion achieved in 2014 to N5.66 billion.

Just as the bank’s profits before and after tax, its net operating income equally witnessed a slump from N127.38 billion in 2014 to N104.64 billion while its impairment charges suffered the same fate recording N55.17 billion as against N44.18 billion recorded in 2014.

However despite the woeful performance in all areas including the bank’s non-performing loan, which stood at 6.9 per cent from 5.1 per cent posted in 2014, Diamond Bank CEO, Mr. Uzoma Dozie, expressed optimism, explaining that the bank would deliver improved earnings in 2016.

Tags assigned to this article:
Diamond Bank profit drops

Related Articles

Reuben Abati arrested by EFCC

Former Special Adviser to ex-President Goodluck Jonathan on Media, Dr. Reuben Abati has been arrested by the Economic and Financial

First Bank profit before tax drops by 77 %

The profit of FBN Holdings. owners of First Bank Plc before tax dropped by 77.1 per cent to N21.5 billion

Alamieyeseigha dies of heart attack after Britain Reopened His Money Laundering Case

Former Bayelsa State Governor Diepreye Alamieyeseigha died after he had a heart attack brought on by the recent plot to


Related Posts

Magu promises to end corruption in 12-month's time
Acting Chairman of the Economic and Financial Crime Commission, EFCC, Ibrahim Magu, has promised to end corruption in Nigeria in the next 12 mont...
FG promises Teachers mouth-watering salaries
The Federal Government has promised to make teachers the highest salary earners in Nigeria, saying the plan would help to attract the best to the...
Obasanjo reveals he once used gun to chase a soldier
Former President, Chief Olusegun Obasanjo has revealed that he once prevented a Nigerian soldier from raping a pro-Biafra during the civil war. ...
powered by RelatedPosts