By Odunewu Segun
Despite the mass sack occasioned by economic downturn which has ravaged businesses in Nigeria, banks made more profit versus pre-recession in the first of the year.
According to findings by National Daily, many deposit banks, in their recently released 2017 results showed high gross earnings for the banks with the United Bank for Africa posting as a high as 66% growth in profit compared with same period during the pre-recession era.
According to results, Access Bank Plc recorded a 2016 FY gross earning of N381, 320.00 million versus N337, 404.00 million in previous year.
Guaranty Trust bank Plc rose from gross earnings of 268,876.00.00 million naira in FY 2015 to 365,917.00 million naira FY in 2016. The results for HY 2017 also followed a similar pattern across all banks.
When recession kicked in, banks responded with diverse policies in FOREX transactions, for example in third quarter of 2016, most Nigerian banks placed a limit on international dollar spending, there were equally a limit of $100 per naira debit card spending in a month; a policy which saw it’s reversal in second quarter of 2017.
Recall that the country slide into full recession by the second quarter of 2016 according to report released by the National Bureau of Statistics The recession has hit hard in almost all sector of the economy including the banking industry following a mass sack of bank workers as well as some banks closing down branches in order to cut cost.
National Daily has compiled all the half year 2017 results released in the table below. It is a summary of results released by banks quoted on the Nigerian Stock Exchange. The list is limited to banks in the Nigerian Stock Exchange and is updated as new results are published.
This list includes the following;
- Gross Earnings of Nigerian Banks
- Pre-tax profits of Nigerian Banks
- Profit after tax of Nigerian banks
- Taxes charged to all Nigerian Banks
- Earnings Per share of Nigerian Banks
| Company Name |
Period |
Current Gross Earnings (N’m) |
Prior Year Gross Earning (N’m) |
Curent PBT (N’m) |
Prior Year PBT (N’m) |
Current Tax (N’m) |
Prior year Tax (N’m) |
Current PAT (N’m) |
Prior Year PAT (N’m) |
Current EPS (kobo) |
Prior Year EPS (Kobo) |
| Acces Bank |
2016 FY |
381,320.00 |
337,404.00 |
90,339.00 |
75,038.00 |
-18,900.00 |
-9,169.00 |
71,439.00 |
65,869.00 |
250 |
250 |
| Access Bank |
2017 Q1 |
79,333.00 |
55,437.00 |
31,208.00 |
22,583.00 |
-5,189.00 |
-3,164.00 |
26,019.00 |
19,419.00 |
91 |
61 |
| Access Bank |
2017 HY |
246,575.00 |
174,012.00 |
52,049.00 |
43,993.00 |
-12,588.00 |
-10,355.00 |
39,460.00 |
33,638.00 |
138 |
117 |
| Diamond Bank |
2016 FY |
212,412.00 |
217,092.00 |
5,034.00 |
7,093.00 |
-1,535.00 |
-1,436.00 |
3,499.00 |
5,657.00 |
15 |
24 |
| Diamond Bank |
2017 Q1 |
44,527.00 |
35,709.00 |
5,584.00 |
6,694.00 |
-775.00 |
-934.00 |
4,808.00 |
5,760.00 |
21 |
25 |
| Diamond Bank |
2017 HY |
89,083.00 |
67,763.00 |
10,778.00 |
10,486.00 |
-1,455.00 |
-1,432.00 |
9,323.00 |
9,054.00 |
40 |
39 |
| Ecobank |
2016 FY |
665,002.00 |
542,706.00 |
-33,706.00 |
40,589.00 |
-18,895.00 |
-19,336.00 |
-52,601.00 |
21,253.00 |
2 |
2 |
| Ecobank |
2017 HY |
386,859.00 |
273,446.00 |
46,242.00 |
41,569.00 |
-8,545.00 |
-10,073.00 |
37,735.00 |
31,082.00 |
131 |
108 |
| FBN Holding |
2017 Q1 |
114,125.00 |
83,457.00 |
19,960.00 |
22,051.00 |
-3,812.00 |
-1,327.00 |
15,882.00 |
20,724.00 |
44 |
57 |
| FBN Holding |
2017 HY |
232,378.00 |
169,201.00 |
35,628.00 |
45,886.00 |
-6,142.00 |
-10,031.00 |
29,846.00 |
35,855.00 |
81 |
98 |
| FBNH |
2016 FY |
581,831.00 |
502,691.00 |
22,948.00 |
21,581.00 |
-5,807.00 |
-6,042.00 |
17,141.00 |
15,539.00 |
39 |
43 |
| FCMB |
2016 FY |
176,352.00 |
152,508.00 |
16,251.00 |
7,769.00 |
-1,912.00 |
-3,008.00 |
14,339.00 |
4,761.00 |
74 |
24 |
| FCMB |
2017 Q1 |
38,462.00 |
34,362.00 |
1,984.00 |
2,207.00 |
-178.00 |
-337.00 |
1,581.00 |
1,645.00 |
32 |
33 |
| FCMB |
2017 HY |
77,508.00 |
88,283.00 |
3,824.00 |
16,289.00 |
-355.00 |
-171.00 |
3,019.00 |
15,668.00 |
30 |
158 |
| Fidelity |
2017 Q1 |
40,842.00 |
34,365.00 |
4,849.00 |
4,025.00 |
-533.00 |
-443.00 |
4,316.00 |
3,583.00 |
15 |
12 |
| Fidelity |
2017 HY |
85,821.00 |
70,259.00 |
10,219.00 |
6,131.00 |
-1,183.00 |
-674.00 |
9,036.00 |
5,457.00 |
31 |
19 |
| Fidelity Bank |
2016 FY |
152,021.00 |
146,948.00 |
11,061.00 |
14,024.00 |
-1,327.00 |
-120.00 |
9,734.00 |
13,904.00 |
34 |
48 |
| Fortis Microfinance |
2016 FY |
4,353.00 |
3,649.00 |
833.00 |
883.00 |
-246.00 |
-299.00 |
586.00 |
584.00 |
8 |
36 |
| GT Bank |
2016 FY |
365,917.00 |
268,876.00 |
165,136.00 |
120,695.00 |
-32,855.00 |
-21,258.00 |
132,281.00 |
99,437.00 |
467 |
351 |
| GT Bank |
2017 Q1 |
84,109.00 |
55,833.00 |
50,392.00 |
30,676.00 |
-8,914.00 |
-5,061.00 |
41,477.00 |
25,614.00 |
147 |
90 |
| GT Bank |
2017 HY |
214,098.00 |
209,873.00 |
101,101.00 |
85,688.00 |
-17,422.00 |
-13,920.00 |
83,679.00 |
71,768.00 |
296 |
254 |
| Jaiz |
2017 Q1 |
1,624.00 |
1,313.00 |
204.00 |
74.00 |
0.00 |
0.00 |
204.00 |
74.00 |
1 |
1 |
| Jaiz |
2017 FY |
2,953.00 |
2,465.00 |
470.00 |
114.00 |
|
|
470.00 |
114.00 |
0 |
0 |
| Jaiz Bank |
2016 FY |
5,478.00 |
4,890.00 |
343.00 |
794.00 |
-32.00 |
116.00 |
311.00 |
910.00 |
2 |
7 |
| Stanbic IBTC |
2016 FY |
156,425.00 |
140,027.00 |
37,209.00 |
23,651.00 |
-8,689.00 |
-4,760.00 |
28,520.00 |
18,891.00 |
246 |
155 |
| Stanbic IBTC |
2017 Q1 |
47,022.00 |
34,780.00 |
18,626.00 |
10,243.00 |
-2,552.00 |
-2,452.00 |
16,074.00 |
7,791.00 |
155 |
68 |
| Stanbic IBTC |
2017 HY |
97,198.00 |
71,320.00 |
29,169.00 |
15,682.00 |
-5,057.00 |
-4,365.00 |
24,112.00 |
11,317.00 |
230 |
95 |
| Sterling Bank |
2016 FY |
99,104.00 |
98,902.00 |
5,999.00 |
6,018.00 |
-837.00 |
-828.00 |
5,162.00 |
5,190.00 |
18 |
36 |
| Sterling Bank |
2017 HY |
56,870.00 |
50,055.00 |
4,305.00 |
4,381.00 |
-532.00 |
-360.00 |
3,773.00 |
4,021.00 |
13 |
14 |
| UBA |
2016 FY |
383,647.00 |
314,844.00 |
90,642.00 |
68,454.00 |
-18,378.00 |
-8,800.00 |
72,264.00 |
59,654.00 |
204 |
179 |
| UBA |
2017 Q1 |
101,249.00 |
73,658.00 |
25,470.00 |
18,083.00 |
-3,120.00 |
-1,097.00 |
22,350.00 |
16,986.00 |
63 |
49 |
| UBA |
2017 HY |
222,718.00 |
165,580.00 |
57,531.00 |
34,756.00 |
-15,192.00 |
-7,649.00 |
42,339.00 |
27,107.00 |
121 |
78 |
| Union Bank |
2016 FY |
126,590.00 |
117,211.00 |
15,738.00 |
14,862.00 |
-347.00 |
-561.00 |
15,391.00 |
14,301.00 |
92 |
84 |
| Union Bank |
2017 Q1 |
33,845.00 |
27,275.00 |
4,661.00 |
4,795.00 |
-142.00 |
-76.00 |
4,519.00 |
4,719.00 |
26 |
28 |
| Union Bank |
2017 HY |
73,682.00 |
60,069.00 |
9,460.00 |
8,925.00 |
-260.00 |
-164.00 |
9,200.00 |
8,761.00 |
54 |
52 |
| United capital |
2017 Q1 |
2,113.00 |
1,857.00 |
1,395.00 |
1,422.00 |
-233.00 |
-284.00 |
1,172.00 |
1,137.00 |
20 |
19 |
| Unity Bank |
2017 HY |
42,354.00 |
39,478.00 |
2,329.00 |
2,615.00 |
-233.00 |
-261.00 |
2,096.00 |
2,353.00 |
20 |
22 |
| Wema Bank |
2016 FY |
|
|
3,276.00 |
2,991.00 |
-684.00 |
-718.00 |
2,592.00 |
2,273.00 |
7 |
6 |
| Wema Bank |
2017 Q1 |
12,331.00 |
9,657.00 |
849.00 |
505.00 |
-127.00 |
-76.00 |
722.00 |
430.00 |
75 |
4 |
| WEMA BANK |
2017 HY |
25,365.00 |
20,157.00 |
1,433.00 |
1,298.00 |
-215.00 |
-195.00 |
1,219.00 |
1,103.00 |
6.3 |
6 |
| Zenith Bank |
2016 FY |
507,997.00 |
432,535.00 |
156,748.00 |
125,616.00 |
-27,096.00 |
-19,953.00 |
129,652.00 |
105,663.00 |
412 |
336 |
| Zenith Bank |
2017 Q1 |
147,736.00 |
99,435.00 |
44,200.00 |
32,121.00 |
-6,701.00 |
-5,548.00 |
37,499.00 |
26,573.00 |
119 |
84 |
| Zenith Bank |
2017 HY |
380,440.00 |
214,812.00 |
92,183.00 |
53,905.00 |
-16,866.00 |
-18,438.00 |
75,317.00 |
35,467.00 |
240 |
113 |