2014 H1: Diamond Bank Write off N9billion in Credit Losses and Post 8.5% Drop In Pre-Tax Profits

Diamond Bank Plc reported a Net Interest income of N55.3billion for the first half of 2014  representing a 7.5% rise from the N51.4billion posted a year earlier. The bank also reported a net loan loss write off of about N9billion slightly lower that the N9.7billion reported a year earlier.

Operating expenses was N48.3billion essentially wiping off the entire Net Interest income less loan write offs of N46.3billion. Income from commission and fees and other sources contributed N18billion, helping the company post pre-tax profits.

Pre-tax profits was N16billion 8.5% lower than the N17billion posted a year earlier.

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