Skye Bank Records 26.6% upsurge in total assets
Skye Bank Plc., one of Nigeria’s foremost financial brands has recorded an increase in its gross earnings, with the earnings totalling to N136.742 billion for the year ended December 31, 2014, up from N132.39 billion from the corresponding period of 2013. The bank also reported a 26.6 per cent growth in total assets, moving from N1.12 trillion in 2013 to N1.42 trillion for the year ended 2014.
Submitting its full year’s financial statement to the Nigerian Stock Exchange (NSE) on Thursday, Skye Bank reported that its retained earnings increased grew by 71.1 per cent, rising to N33.7 billion in the year under review from N19.7 billion recorded in the previous year, which reflected the group’s pursuit of growth in a stable, strategic and an enduring manner. The financial lender’sloan and advances portfolio also grew by 18.4 per cent, moving from N549.9 billion in 2013 to N651.3 billion in 2014.
The Group Managing Director/Chief Executive Officer, Skye BanlPlc, Mr. Timothy Oguntayo,was quoted to have said that in spite of the challenging operating environment, the bank carefully grew its risk assets portfolio, attained a 15.7% growth in deposits, supported customers in critical and productive sectors of the economy, and declared a fairly decent profit.
Oguntayo also declared that with the recent acquisition of Mainstreet Bank Limited, which has resulted into a much larger franchise of over 450 branches, the bank now has the enhanced capacity to provide easier access to its teeming customers, and explore various opportunities in diverse segments of the Nigerian economy.
RECOMMENDED ARTICLES
Comment
No comments found.