SKYEBANK Issues Earnings Guidance for Financial Year Ended 31st December 2015

Proshare

 

Tuesday, March 29, 2016 8:12AM / NSE  

The Management of Skye bank Plc. wishes to intimate its shareholders and investor community of anticipated material decline in its profits for the full year ended December 31, 2015 compared with that of 2014.

The expected decline in performance is attributable to Management’s decision to recognize increased impairment on loans to sectors severely affected by the prevailing economic headwinds which are yet to abate, especially the lull in Oil & Gas and Real Estate Sectors.

While this cautious approach has been adopted, we have designed and commenced appropriate remedial processes to salvage the affected assets as soon as possible.

Full details of the Group’s financial performance will be disclosed after regulatory approvals of the financial statements.

We remain committed to our focus on supporting the growth of the Retail and SME sectors amongst others. In 2015 we made substantial improvements to our risk management framework with a view to ensuring that our risk assets portfolio remain solid and of good quality.

Our cost containment, internal efficiency and process improvement measures remain on track.

 

Related News
Proshare is Nigeria’s Premier Financial, Business and Economic Information Hub (since 2006)
Registered Office: Plot 590B, Lekan Asuni Close, Omole Phase II, Isheri LGA, P.O. Box 18782, Ikeja, Lagos, Nigeria. Telephone: 0700 PROSHARE (070077674273)
Some of our Trademarks are: WebTV, TheAnalyst, Proshare, Personal Finance, The Nigerian Capital Market Reports, Money Africa, The Nigerian Investor, Making Money in the Nigerian Capital Market, Investor Relations Service, Proshare Investment Clubs, DIGITALTV, Islamic Finance, The Market Opening Gong
Proshare - Facebook Proshare - Twitter
SCROLL TO TOP