Diamond Bank Plc has recorded N11.254 billion loss in its Audited Report for the Period Ended December 31, 2011.
The bank’s financial position was contained in a filing made to the Nigerian Stock Exchange (NSE) last Friday for verification. By this state of health of the bank, shareholders may not receive any dividend payment in the period under review.
Further x-ray of the bottom line showed that, the bank’s profit After Tax (PAT) dipped from a positive N1, 323 billion in year 2010 end to a negative N11.254 billion; indicating a dip of 947.4 percent (947.4%) in the review period.
Also, Profit Before Tax (PBT) moved from a positive N4.772 billion in 2010 to a negative N16.261 billion in the Audited Period of year 2011; representing a Loss of 440.8%.
However, Gross Earnings increased slightly from N91.022 billion in year 2010 compared to N96.340 billion in year 2011 end; showing an increase of 5.8%.
In its Corporate Declaration, Diamond Bank said the closure date of Register of shareholders whose names appear in its Record is April 23-24 2012 and its Annual General Meeting (AGM) has been scheduled for April in Lagos Nigeria.
In the same vein, Stanbic IBTC Bank Plc declared a Loss of 21.3 percent in the Audited Report for the Period Ended December 31 2011 even as it has proposed to reward investors of the Company with a N0.10 Kobo dividend.
Profit After Tax (PAT) of the Bank declined from N9.455 billion in year 2010 to N7.440 billion in 2011; indicating a Loss of 21.3%.
Profit Before Tax (PBT) also dipped from N13.528 billion in year 2010 end to N11.243 billion in the review period of 2011; representing a Loss of 16.9%.
However, Gross Earnings grew by 18.8% as the Bank posted N67.425 billion in year 2011 end compared to N56.745 billion in year 2010.