The bank’s audited result released by the Nigerian Stock Exchange showed that gross earnings was higher by 26.10 per cent when compared with N528.75 billion in the comparative period of 2018.Also, profit after tax rose to N97.51 billion from N94.98 billion, while earnings per share decreased from N3.31 to N2.90 during the period under review.
Meanwhile, the bank had earlier proposed and paid interim dividend of 25k per share, bringing the total dividend per share for 2019 to 65k per share. Loans and advances to customers grew to N2.91 trillion from N1.99 trillion in 2018, while deposits of customers stood at N4.26 trillion from N2.56 trillion in 2018.Herbert Wigwe, the bank’s Group Managing Director, said recently that it was now fully positioned in the retail market with the completion of the merger.
“We are providing a broader platform to facilitate payments services in Nigeria and across Africa, by harnessing our significantly enhanced digital technology capabilities,” Mr Wigwe said.He said the bank had made progress in line with its 2018-2022 five-year strategy and remained committed to the achievement of its strategic imperatives going forward.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2019: Coronation Merchant Bank records huge growth in earnings, declares N5bn profit - Daily Post NigeriaCoronation Merchant Bank Limited has announced its Audited Financial Results for the year 2019, with Profit After Tax of N5.097billion. Commenting on the In the season of virus ? CoronaAlert Anything Cor.. sounds like corona virus to me
Source: DailyPostNGR - 🏆 11. / 59 Read more »