RESULTS:Diamond Bank Post N28.5billion PAT, 29% Increase. See details

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Diamond Bank released its 2013 FY results showing a Net Interest Income of N104.6billion representing a 17% growth from the N89billion posted a year earlier. Here are highlights of the results;

• Loan impairment grew 37% to N23.2billion (2012: N17billion)
• Operating expenses rose to N84billion (2012: N68billion)
• Cost to income ratio by our estimate was 60%
• Profit before tax was N32billion compared to N27billion in 2012 and representing a 16% rise.
• Profit after tax was N28.5billion a 29% rise from the N22billionposted a year earlier
• Diamond Bank also increased its customers deposits to N1.2trillion a 32% rise from the N910billion posted in 2012
• Loans and advances to customers also rose 17% to N689billion compared to N585billion posted in 2012.

Diamond Bank first released its result in the website of the NSE