Summary of the report showed that gross earnings increased by 0.4 per cent to N 613.1 billion; total assets nudged up by nine per cent to N 9.430 trillion during the period under review as against the period of last year. Also, deposits from customers increased to N 6.686 trillion representing 13 per cent and total equity went up by three per cent at N 708.6 billion.
However, despite the bank’s good showing in deposits from customers, revenue and gross earnings, profits was impacted by the provisioning of about N60.5 billion for goodwill for the acquisition of Oceanic Bank in 2011. The bank said it is optimistic that with the clean book aftermath of the full provisioning for Oceanic Bank, it will improve on its profitability for the year end. Profit before tax and goodwill impairment close at N 95.1 billion.
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