ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Friday, February 26, 2021
Premium Times Nigeria
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
Diamond Bank Headquarters Photo: Business News

Diamond Bank Headquarters Photo: Business News

Diamond Bank declares N217 billion gross earnings in 2015

byPremium Times
April 27, 2016
2 min read

Diamond Bank has declared gross earnings of N217.09 billion for the financial year ended Dec. 31, 2015 against N208.40 billion achieved in 2014.

The details are contained in the company’s audited result released by the Nigerian Stock Exchange (NSE) on Wednesday in Lagos.

The gross earnings represented a growth of 4.17 per cent over the figure in 2014.

The bank’s profit before tax, however, dropped to N7.1 billion from N28.10 billion in 2014, a decrease of 74.8 per cent.

Its profit after tax also stood at N5.66 billion, down from N25.49 billion achieved in 2014, a decline of 77.8 per cent.

The bank’s net operating income stood at N104.64 billion compared with N127.38 billion in 2014.

Its impairment charge stood at N55.17 billion against N44.18 billion recorded in 2014.

According to the report, the bank’s non-performing loans stood at 6.9 per cent from 5.1 per cent posted in 2014.

Its capital adequacy ratio stood at 16.3 per cent in contrast to 17. 5 per cent recorded in 2014, while net interest margin dropped to 6.1 per cent from 6.6 per cent in 2014.

RelatedNews

VIDEO: How bandits terrorised Kagara for years before students abduction

VIDEO: What Bawa told Senate about himself

Facebook to invest $1bn in news industry

VIDEO: How missing Pharmacy admission made me into a passionate farmer -Chinonye

The bank had earlier issued profit guidance after prudent provisioning of N55.2 billion impairment charge and the installation of mitigating actions to address the impact of current economic headwinds.

Commenting on the performance, the bank’s Chief Executive, Uzoma Dozie, explained that the bank was currently undergoing a transformation exercise.

Dozie said that the bank had embarked on strategies that would deliver improved earnings and lower operating costs in 2016 and years ahead.

Dangote adbanner 728x90_2 (1)

He said that the bank had set forth a clear and realisable business road map that would promote stronger and sustainable growth in 2016 and the years ahead.

Dozie expressed optimism that the bank’s reliance on innovation, technology and lifestyle priorities would drive banking in the future.

He also expressed optimism about the growth and value to shareholders and restated his commitment to overseeing full implementation of the bank’s digital-led retail strategy.

Dozie said that the bank had taken a number of mitigating actions to address and drastically reduce its challenges.

“2015 was undoubtedly a challenging year for us owing to a mixture of external factors not limited to regulatory headwinds and a difficult macroeconomic environment.

“Whilst this led to additional impairment charges following a prudent review, we have further tightened the criteria for loan origination in order to better align our loan portfolio with the macroeconomic conditions,’’ he said.

ADVERTISEMENT

(NAN)

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (0)
premiumtimes



PT Mag Campaign AD

Previous Post

Saraki insists CCT chairman, Umar, must stand down from trial

Next Post

Former Nigerian Minister kidnapped

Premium Times

Premium Times

More News

Share Buyback

Share Buyback: What Dangote Cement is up to, and prospects for Nigerian firms

February 22, 2021
Food stuff used to illustrate the story

Nigeria’s food inflation at crisis point, reaches 11-year high

February 17, 2021
Nigerian Economy

Nigerian stocks hit four-week high as company reports raise hope

January 30, 2021
Minister of Finance, Zainab Ahmed [PHOTO CREDIT: @ZShamsuna]

How Nigeria’s debt repayment is taking huge toll on yearly budgets

January 17, 2021
The Chairman, Agboyi-Ketu LCDA, Dele Oshinowo presenting a cheque of N165,000 to one of the victims of October #EndSARS protest in Ketu on Thursday, Dec. 3, 2020)

#EndSARS Relief Fund: Lagos council disburses N10m to 103 victims

December 4, 2020
Melee Kolo Kyari, NNPC GMD

NNPC and its endless maintenance of refineries

November 21, 2020
Next Post
Former Nigerian Minister kidnapped

Former Nigerian Minister kidnapped

​INTERVIEW: IMF report on Nigeria will end as another false alarm – Economist

​INTERVIEW: IMF report on Nigeria will end as another false alarm – Economist

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


NITDA Ad





Glo Ad

Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,625,365 other subscribers.

Advertisement






netherland biz school Advert

Zenith Advert
ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.