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RESULTS:Diamond Bank Post N28.5billion PAT, 29% Increase. See details

Nairametrics by Nairametrics
March 28, 2014
in Blurb, Company News
RESULTS:Diamond Bank Post N28.5billion PAT, 29% Increase. See details
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Diamond Bank released its 2013 FY results showing a Net Interest Income of N104.6billion representing a 17% growth from the N89billion posted a year earlier. Here are highlights of the results;

  • Loan impairment grew 37% to N23.2billion (2012: N17billion)
  • Operating expenses rose to N84billion (2012: N68billion)
  • Cost to income ratio by our estimate was 60%
  • Profit before tax was N32billion compared to N27billion in 2012 and representing a 16% rise.
  • Profit after tax was N28.5billion a 29% rise from the N22billionposted a year earlier
  • Diamond Bank also increased its customers deposits to N1.2trillion a 32% rise from the N910billion posted in 2012
  • Loans and advances to customers also rose 17% to N689billion compared to N585billion posted in 2012.

Diamond Bank first released its result in the website of the NSE

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Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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