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Wema Bank records N25.9b in 2008

Category: Capital Market


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Wema Bank records N25.9b in 2008

 

Wema Bank Nigeria Plc has recorded N25.9 billion gross earnings in its 2008 operations.

 

 

Presenting its result to the council of the Nigeria Stock Exchange and their shareholders last week, the banks audited result for the year ended March 31, 2008 showed gross earnings of N25.9 billion, as against N29.4 billion recorded in 2007 its loss after tax and exceptional items stood at N46.3 billion, compared with profit after tax of N1.3 billion in 2007.

 

 

Also, its audited result for the year ended March 31, 2009 showed gross earnings of N16.5 billion, as against N25.9 billion in 2008 while the banks loss after tax and exceptional items stood at N20.4 billion, compared with N46.3 billion in 2008.

 

 

The date of closure of register for members is stated as at January 21, 2010. Similarly, audited result of Studio Press Nigeria Plc for the year ended December 31, 2008 showed a turnover of N2.9 billion, as against N1.8 billion recorded in 2007. Its loss after tax stood at N212.8 million, compared with profit after tax of N35.3 million in 2007.

 

 

Unic Insurance Plc's unaudited result for the third quarter ended September 30, 2009 showed gross earnings of N2.2 billion, higher than N1.8 billion recorded in the comparable period in 2007. The companies profit after tax and extra-ordinary items stood at N372.3 million, up from N365.2 million in 2008.

 

 

For Constain West African Plc, its unaudited for the first quarter ended June 30, 2009 showed a turnover of N2 billion, over N1.1 billion recorded in the comparable period in 2008 while its profit after tax stood at N88.2 million, compared with N237.2 million in 2008.

 

 

Unaudited result of Tripple Gee & Company Plc for the third quarter ended December 31, 2009 showed a turnover of 358.8 million, as against N788.61 million recorded in the comparable period in 2008. The company's loss after tax stood at N61 million, compared with profit after tax of N77.7 million in 2008.

 

 

First City Monument Bank Plc forecasts gross earning of N21.8 billion and profit after tax of N1.3 billion during the first quarter ending March 31, 2010. Abbey Building Society Plc forecasts a turnover of N550.7 million and profit after tax of N175.6 million during the half year ending April 30, 2010.

 

 

Intercontinental Wapic Insurance Plc forecasts Gross premium of N1.5 billion and profit after tax of N289.4 million during the first quarter ending March 31, 2010 while Tripple Gee Plc forecasts a turnover of N852.4 million and profit after tax of N19.4 million during the year ending March 31, 2010.

 

(Source: Guardian)



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