Diamond Bank 2015 Profit Drops 77.8% to N5.66 Billion

Diamond Bank

By InvestAdvocate

Lagos (INVESTADVOCATE)-Diamond Bank Plc said on Wednesday its profit after tax (PAT) for the period ended December 31, 2015 dropped 77.8 percent to N5.66 billion from N25.48 billion posted a year earlier.

Similarly, profit before tax (PBT) of the Bank declined 74.8 percent to N7.09 billion from N28.10 billion recorded the previous year.

However, gross earnings climbed up from N208.40 billion in 2014 end to N217.09 billion posted the review period of 2015; indicating a marginal growth of 4.2 percent, the lender said in a filing with the Nigerian Stock Exchange (NSE).

Shares of Diamond Bank at the close of the day’s trading on the Nigerian bourse appreciated 4.93 percent to N1.49 from N1.42 traded the previous session; gaining 0.07 percent.

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