Skye Bank said on Friday its 2014 pretax
profit fell 46.6 percent to 10.47 billion naira ($53 million), compared
with 19.64 billion naira in the previous year.
Gross earnings however rose to 136.74
billion naira from 132.39 billion naira the previous year, while the
directors have proposed a bonus issue of one share for every 20 held by
existing shareholders, the bank said in a statement.
The middle-tier bank said its earnings
were hit by increase loan loss expense, which rose 58 percent to 18.99
billion naira from 12 billion naira previously, while operating expense
also increased 9.8 percent during the period.
Reuters
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