RECESSION: See List Of 5 Nigerian Banks With Highest Profits Despite Hardship [SEE]

-


NigerianBanks.jpe
Not fewer than 5 Nigerian banks have defied the recession as they continued to post huge profits in their third quarter results despite the economy in recession.
Ten out of 15 quoted banks on the Nigerian Stock Exchange have submitted their unaudited results as of September 2016 where five out of them recorded increases in both their profit before tax and after tax.
The huge profits was said to be as a major boost from the foreign exchange (FX) revaluation gains.The banks are:
1. GTBank Plc recorded the highest gain of N140.84bn PBT from N92.06 in Q3 2015, an increase of 53 percent.
2. Zenith Bank Plc follows with N121.3bn PBT from 104.1 in Q3 2015, an increase of 16.6 percent.
3. Access Bank Plc also showed a boost in its PBT from N60bn in Q3 2015 to N72bn in Q3 2016
4. UBA Plc also recorded increase in PBT from N57.3bn in Q3 2015 to N61.5bn in 2016 an increase of 7.3 percent.
5. Union Bank of Nigeria Plc also boost profit from N9.8bn in Q3 2016 to N12.4bn in the same period 2016.

Comments

Post a Comment

The views expressed in comments published on my blog are those of the comment writers alone. They do not represent the views or opinions of queendoosh.com. Please take note.

Popular posts from this blog

NEW! Scientists Develop Vaccine For HIV/AIDs

-
Image
A new vaccine-based treatment for HIV has succeeded in suppressing the virus in five patients, raising hopes further research could help prevent Aids without the need for daily drugs. Independent of the United Kingdom reported on Friday that researchers combined two innovative HIV vaccines with a drug usually used to treat cancer in the trial, conducted over three years at the IrsiCaixa Aids Research Institute in Barcelona. After receiving the treatment, the virus was undetectable in five out of 24 participants and its spread was stopped by their immune systems, reported the New Scientist. One of them has been drug-free for seven months. Around 18 million people – half of all those living with HIV around the world – take ART to slow the progression of the infection, according to the UN. But these drugs are expensive and can cause unpleasant side effects. Patients have to remember to take them every day, sometimes over their entire lives. Mitchell Warren, executive dire
NEXT PAGE »

Suswam rains SUVs on Benue Governor-Elect, others

-
Image
  Benue State Governor, Gabriel Suswam, has donated eight brand new Toyota Prado SUVs to the Governor-Elect, Chief Samuel Ortom; his wife; the Deputy Governor-Elect, Benson Abounu, and his wife, as part of measures to ensure peaceful transition arrangement. This presentation was made by the Governor on Thursday at the state house in Makurdi in the face of the heavy criticism his administration has faced for owing salaries of workers for over six months. Student of the state-owned tertiary institutions are reported to be currently out of schools following the strike embarked upon by the lecturers as a result of non-payment of their salaries. This, among others, are believed to number among the reasons why Suswam, who vied for one of the senatorial seats in the state was defeated at the polls with his anointed successor also suffering the same fate at the governorship elections. DAILY POST recalls that only yesterday, an unbelievable photo of a toilet in an abandoned
NEXT PAGE »

Senate Indicts Ngozi Okonjo-Iweala Over Loss of N1.6tr Revenue

-
Image
Nigeria's imediate past minister of Finance ,Ngozi Okonjo-Iweala has been indicted by the Nigerian senate over a N1.7t loss in revenue. According to the Senate Ad Hoc Committee on Alleged Misuse, Under-Remittance and Other Fraudulent Activities, revenue agencies short-changed the Federal Government to the tune of N1.7tn as unremitted revenue generated between 2012 and 2016. The panel blamed it on a memo by a former Minister of Finance, Mrs. Ngozi Okonjo-Iweala, who allegedly issued the memo to the agencies to remit 25 per cent of revenue they generated to the Federal Government and spend 75 per cent on their expenditures. An interim report by the committee chaired by Senator Olamilekan Adeola, details this. The panel said the amount to be remitted to the Federal Government during the period by 93 agencies it investigated was N21.5tn. It alleged that 25 of the 93 agencies covered defrauded the government of a total of N1,695,585,887,406.
NEXT PAGE »