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.

Meet Tami, the Nigerian teen with admission offers from 5 Ivy colleges, 9 others

May 2, 2021

Access Bank informs customers about changes to Forex requests

Access Bank will no longer accept cheques with logo of defunct Diamond Bank

March 2, 2020

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.