Abuja- Afribank Nigeria Plc has posted a Profit Before Tax (PBT) of N12.6 billion for the financial year ended March 2008. It represented a 78 per cent increase over the PBT of the previous year which stood at N6.92 billion. It also declared a dividend of 50 kobo per share, totaling N5.06 billion.
Profit After tax (PAT) come to N10. 033 billion after setting aside N4.933 for taxation. Another N127,728 million was also set aside for minority interest, thereby leaving a balance of N9.905 billion as profit attributable to shareholders.
Abuja - The First City Monument Bank PLC (FCMB) board has proposed for approval the payment of 50 kobo dividend per share, up by 43 per cent from the previous year, in spite of the massive growth in capital, based on a whopping N20.5 billion gross profit.
The bank’s gross earnings also grew by 112 per cent in the same period to N52.82 billion from N24.9 billion. The group closed its books with an asset base, including contingents, of N587 billion, a growth of 90 per cent over the previous year and following its successful public offer in 2007, the bank also recorded a significant growth of 330 per cent in its Tier 1 Capital, from N31.2 billion to N133.7 billion.
Abuja - The Federal Government on Tuesday rescued the stock market with the appointment of a 16-man presidential advisory team to stem the continuous fall in the market. It also pegged the downward movement of prices of shares.
The team comprises members from both the public and private sectors and will meet regularly to articulate and implement medium and long term measures that are necessary for the healthy growth and development of the market.
Briefing State House correspondents after a meeting of the vice president, Dr. Goodluck Jonathan and stakeholders on the problem, Minister of Finance, Dr. Shamsudeen Usman, said the current situation in the capital market had been a source of concern to the government.
Accra (Ghana) - Ecobank Transnational currently operating in 25 countries, including Nigeria, Ghana, and Cote d’Ivoire, will today begin the sale to sell $2.5 billion of shares, in what it said is the biggest stock offering in Africa, to help fund new branches on the continent and expand in countries where it has no presence.
According to a statement by the bank on Saturday, the capital raising exercise, which is the first trans-border initial public offering and Rights Issue in Africa, is expected to be sold simultaneously on three stock exchanges.
Lagos - Shareholders of Zenith Bank Plc stocks may soon be smiling to the bank, if the forthcoming Zenith bank’s dividend payout of as much as N1.70 per share for the current financial year, is carried out.
Zenith Bank Plc has officially announced a change in its financial year end from June 30 to September 30, starting from this year, in what the bank described as a bid to further enhance shareholder value. The bank which normally operated a July to June financial year, recently released its twelve-month result showing “remarkable improvements” on all parameters.