- Diamond Bank Plc released its 2015 half year results showing earnings per share dropped year on year by 45% to N0.52 (2015 H1: N0.95)
- The Bank in its second quarter result posted Net Interest Income of N29.7billion 3.2% higher than the N28.8 billion it posted in the first quarter of the year.
- However, the bank saw income from commissions and fees rise 14% to N9.5billion.
- Things however went south for the bank after it posted an operating expense of N27 billion (N24.1billion).
- Diamond Bank also continued to take in impairment charges recording another N6.5billion this quarter alone. Most of its provisions have come from bad overdraft loans
- The Bank has now provided for a cumulative loan loss of N65billion since Q1 2013.
- We also noted that the bank’s deposits dropped significantly by 9% to N1.4trillion
- Also of note was the fact that the bank lent about 18.7% of its Loans and Advances to other banks.
- See press release
|Net Interest Income||28,846||29,775||3.22%|
|Exchange Commissions and Fees||8,362||9,578||14.54%|
|Investment & Other Income||1,822||83||-95.45%|
|Total Operating Income||39,029||39,436||1.04%|
|Share of Profit/(Loss) of associate||–||–|
|Profit from discontinued operations||–|
|Profit before Tax||8,367||5,826||-30.37%|
|Profit after tax||7,168||4,987||-30.42%|
|Tax as a %age of PBT||14.34%||14.40%|
|Operating profit as a percentage of Operating Income||38.0%||31.5%||20.82%|
|Cost to Income Ratio||62.0%||68.5%||-9.56%|
|Loan Impairment to Operating Profit||43.6%||53.0%||-17.80%|