Profit for the period increased to N52.6 from N41 billion.
Gross earnings lifted to N222.1 billion from N209.8 billion a year earlier.
Net interest income stood at N81.4 billion, more than one-fourth bigger than the figure reported for the same period of last year, even though the income category was capped by impairment charge.
Charges for loan impairment rose by almost half to N12.6 billion, underscoring the forecast of credit rating agency Fitch that the impaired loans of the Nigerian banking industry would accelerate by between 10 to 12 per cent of total credit asset by the end of this year.
Net fee and commission income swelled 33.6 per cent to N30.7 billion, according to the earnings report published by the
Pre-tax profit climbed to N60 billion, up from N46.3 billion, while profit for the period increased to N52.6 from N41 billion.
Its asset valuation is now put at N9.1 trillion for the first quarter of 2021. That compares with the N8.7 trillion of last year.
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