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Nairaland Forum / Nairaland / General / Mainstreet Bank Back To Reckoning? (474 Views)
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Mainstreet Bank Back To Reckoning? by Adesiji77: 7:41am On Jun 23, 2013 |
Whatever anybody will say, the three banks bridged by the Asset Management Corporation of Nigeria (AMCON) in 2011 are doing well. Going by the return to profitability of these banks, even earlier critics of the Central Bank of Nigeria (CBN’s) intervention in 2009 are applauding the rescue package which has continued to improve the balance sheets of the affected banks. Last week, management of Mainstreet Bank published its 2012 full year results and all the indices showed that the bank which recorded a loss of N4.4 billion in its first five-month of operation in 2011 bounced back to profitability, declaring a profit before tax of N24.1bn in its group financial performance for the year ended 31 December 2012. Other highlights of the results include the Capital Adequacy Ratio (92%), Liquidity Ratio (137.9%), Return on Assets (7.0%), Return on Equity (44.5%), Earnings per share (N3.69), and NPL Ratio of 3.29% respectively. http://www.thisdaylive.com/articles/mainstreet-bank-back-to-reckoning-/151256/ |
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