FullDepth1:



You think to run a country is as easy as you type?

You Wake up one morning and increase all Public School fees. Increase all form of Taxation, withdraw funds and support from all Schools.. ??


I'm just here, looking at your face, and Laughing.

You are funny.

Good afternoon. And thank you for responding to me.

With their unlawful deductions

Will any good news come out of this evil administration?

Adesiji77:
Bad loans, naira volatility and other economic headwinds have made Ecobank International Incorporated, Union Bank Plc, First City Monument Bank Limited, Wema Bank Plc and Fidelity Bank Plc to post a combined 80 per cent decline in their annual profits.

The annual financial statements of the banks posted on the website of the Nigerian Stock Exchange have revealed.



The 2015 financial results of the five banks released in March this year showed that the profit before tax tumbled by 69 per cent to N77.65bn from N131.19bn in 2014.

Similarly, the combined profit after tax of the five banks fell from N107.279bn in 2014 to N59.73bn in 2015, indicating a decline of 79.59 per cent.

The N53.54bn fall in profit was attributed by many of the banks’ chief executive officers to high impairment charges on bad loans, foreign exchange volatility and other challenges facing the economy following the significant drop in the nation’s oil revenue due to the sharp fall in oil prices.

The economic crisis facing the country has affected the banking industry significantly. Out of the 15 banks quoted on the Nigerian Stock Exchange, 10 have released their 2015 annual financial statements as of the March 31, 2016 regulatory deadline set by the Central Bank of Nigeria for the submission of the statements.

Of the 10 banks that released their results, five posted sharp decline in profits, a major departure from the consistent rise in profits posted by almost all the banks in the country after the 2010 banking crisis.

The reports on the NSE website showed that Ecobank posted a PBT of N40bn in the 2015 financial year; Union Bank, N18.1bn; FCMB, N2.5bn; Fidelity Bank, N14bn; and Wema Bank, N3.046bn.

However, the five other banks that released their 2015 annual reports in March this year outperformed the market, posting increases in both their profit before tax and profit after tax.

This is despite the huge provisions for bad loans that most of them made in the 2015 financial year.

These are Guaranty Trust Bank Plc, United Bank for Africa Plc, Access Bank Plc, Sterling Bank Plc, and Zenith Bank Plc.

http://www.punchng.com/economic-crisis-five-banks-profit-drop-by-n54bn/

why am I not seeing First Bank eeeh

The 2015 financial results of the five banks released in March this year showed that the profit before tax tumbled by 69 per cent to N77.65bn from N131.19bn in 2014.

Similarly, the combined profit after tax of the five banks fell from N107.279bn in 2014 to N59.73bn in 2015, indicating a decline of 79.59 per cent.


http://www.punchng.com/economic-crisis-five-banks-profit-drop-by-n54bn/ [/quote]

Punch, a brow envelope media house, known for its colouration of stories and penchant for misrepresentation of facts through exaggeration, is at it again.

How on earth would those figures, posted above, result to a decline of 79.59%? Did all the staff of punch newspapers fail in mathematics?

For the young minds, who will quote the news without further analysis to confirm its correctness, below table will be helpful:

DETAIL 2015 2014 DIFF %
PBT 77.65 131.19 -53.54 40.81
PAT 59.73 107.279 -47.549 44.32

where % is (diff/2014)

DonMaxxy:
I am both happy and sad. Happy because my banks no follow among the five. Sad because if nothing is done; these banks may go moribond or they will be acquired by other banks as their liabilities will lack viable assets to keep them afloat.

The results will be as follows:
*Branches with low customer turnouts, as many customers now feed from hand to mouth esp in rural areas, will be
closed.
*This will lead to job insecurity and resultant unemployment as the bank staff in the affected areas will be discharged of their jobs.
* The rural dwellers will have to tavel to the cities or developed suburbs for their transactions. This will consume more of their time, energy and money.
*Other unfavourable consequences the economists will explain better.

Therefore I am very sad that we are moving ten steps backward to 1983.
Buhari why na? must everybody become lean like you by 2019. What will become the fate of those of us who are lean naturally?

was Buhari the cause in the fall of oil price?? Abeg answer me. Thanks

What about First bank,? Hmmm, First bank is one bank I'm skeptic abut. They may join in these banks in recording huge profit decline. No bank is exposed to the oil & gas sector like they, also no bank has a higher Non performing loan than first bank. If you are a first bank customer, be very attentive to the news that would emanate soon.......coz I smell bad ass profit Decline for First bank!

KingAdeOluomo1:
why am I not seeing First Bank eeeh

My man, even me gan dey look firstbank with one eye, according to reports on ground. Situation isn't good. Look @ d pic below......

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Chukzyfcb:

My man, even me gan dey look firstbank with one eye, according to reports on ground. Situation isn't good. Look @ d pic below......

The fact that these ones declared their true profit is even good.
Many banks give the impression that all is well even when they are operating at a loss.

gbadexy:

The fact that these ones declared their true profit is even good.
Many banks give the impression that all is well even when they are operating at a loss.

That's very true my man. Mr doyin salami, a member of the CBN monetary policy commitee says that some banks were cooking reports. And posting figures that were untrue. For this sort of comment to come from a key figure in our economic team ,hmmm means we gats be watchful. Here's the link: www.nairametrics.com/nigerian-banks-may-be-hiding-npls-as-3-exceed-10-percent-threshold-doyin-salami/