Business

Banks: Profit versus recession (see full list)

Published

on

Spread The News

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

 

 

Advertisement

Leave a Reply

Your email address will not be published.

Trending

Copyright © 2024 Nationaldailyng