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Home   >   Market - Finance   >   Earnings   >   Diamond Bank’s Q1 2012 Earnings Hit N 30.7 billion, Net Income N 5.3 billion

Diamond Bank’s Q1 2012 Earnings Hit N 30.7 billion, Net Income N 5.3 billion

By on May 17, 2012

Diamond Bank reported its Q1, 2012 earnings to the Nigerian Stock Exchange earlier today.

The company took in N 30.7 billion in Gross Earnings, up 48.5% YoY from N20.6 billion it made during Q1, 2011.

Interest income was N 24.9 billion, up 53.6% YoY from N 16.2 billion it made in the similar period of the preceding year.

Profit before tax was N 7.8 billion, up 262% YoY from N 2.1 billion recorded over the similar period in the preceding year.

Net income came in at a healthy N 5 billion, up 1127% from the company’s performance in Q1, 2011.

Net income figures were pronounced as the bank faced a difficult period last year due to bad loans.

The Bank’s loan portfolio stands at N 526 billion up 9.1% fro N 482 billion over Q1, 2011.