H1 2018 Results: Diamond Bank Plc reports 78% decrease in profit

Diamond Bank Plc recently released its H1 2018 financial statements for the year ended 30 June 2018.

Here are the key highlights of the reports:

Revenue

The group reported Gross earnings of ₦98.5 billion for the period ended June 2018 compared to ₦97.9 billion reported for the period ended June 2017. This represents 1% increase.

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Profit Before Tax

Profit before tax was ₦2.9 billion for the period ended June 2018, a 69% decrease compared to profit of ₦9.5 billion reported for the period ended June 2017.

Profit After Tax

The company’s profit after tax for the half year ended 30th June 2018 was ₦1.80 billion, a 78% decrease compared to profit of ₦8.02 billion recorded in H1 2017.

Earnings Per Share

Diamond Bank Plc, however, reported earnings per share of 8 kobo for the period ended June 2018 as against earnings of 35 kobo reported for the comparative period in 2017.