• 380

    USD/NGN

First Bank Grows Profit By N26bn In Q2

First Bank Grows Profit By N26bn In Q2

First Bank of Nigeria Plc has declared N25.521 billion profit after tax in its second quarter ended June 30, 2012.This was contained in the bank’s second quarter result released to the Nigerian Stock Exchange (NSE) yesterday in Lagos.

The bank’s profit after tax increased from N20.484 billion in the second quarter of 2011 to N46.005 billion in the review period of year 2012, representing 124.59 per cent increase.

Similarly, the bank posted a profit before tax of N24.099 billion in second quarter of 2011 compared to N54.123 billion during the same period of year 2012; indicating an increase of N30.024 billion or 124.59 per cent.

However, its gross earnings also grew from N145.088 billion in the second quarter of 2011 to N182.303 billion during the second quarter of 2012; showing an increase of N37.22 billion or 25.65 per cent.

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