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Wema Bank Reports N1.8 billion Loss in Q3, 2012

By on January 5, 2013

Wema Bank HQ

Wema Bank released its 3Q, 2012 results late last week. The company say Gross Earnings reach N19.8 billion, up 14.1 from N17 billion made over the corresponding period in 2011.

A drop in investment income of 63% led to the losses before and after tax reported by the bank.

Investment income for the period was N3.4 billion, down 63% from N9.4 billion reported in 2011.

Loss before tax was N1.7 billion, down 226% from the N1.4 billion profit it made in the corresponding period of 2011.

Net Loss was N1.8 billion, down 251% from the N1.2 billion it made in the corresponding period of 2011.