Diamond Bank, SevenUp, Mobil, Stanbic IBTC post increases in Q3 pretax profit

Nigeria’s Diamond Bank said on Wednesday its nine month pretax profit fell to 23.74 billion naira ($143.66 million), down 7.2 percent from a year ago.

Revenue rose to 120.03 billion naira during the period to Sept. 30, against 106.95 billion naira last year, the bank said in a filing with the Nigerian Stock Exchange.

The mid-tier lender appointed a new chief executive Uzoma Dozie last week to replace its former head who retired voluntarily.

SevenUp

Nigeria’s SevenUp Bottling Co. 9-month profit up 16.2 pct

Nigeria’s soft drinks firm SevenUp Bottling Co said its 9-month pre-tax profit climbed to 3.23 billion naira ($19.55 million), up 16.18 percent from a year ago.

Revenue also rose to 38.14 billion naira during the period to Sept. 30, against 33.82 billion naira in the same period of last year, the company said in a filing with the Nigerian Stock Exchange.

Mobil Nigeria doubles 9-month pre-tax profit to 7.89 bln naira

Nigerian fuel marketer Mobil said its 9-month pre-tax profit climbed to 7.89 billion naira ($47.75 million), more than doubled from a year ago.

It said revenue also rose to 60.71 billion naira during the period to Sept. 30, against 58.73 billion naira in the same period of last year, the company said in a filing with the Nigerian Stock Exchange.

Nigeria’s Stanbic IBTC Holdings said on Wednesday its nine-month pre-tax profit rose to 30 billion naira, up 48 percent from a year ago.

Gross earnings at the mid-tier lender, rose to 94.6 billion naira during the period to Sept. 30, from 82.9 billion naira during the same period last year, the local unit of South Africa’s Standard Bank, said in a filing with the Nigerian Stock Exchange.

Stanbic IBTC said it raised 15 billion naira ($90.7 mln) in Tier II capital at the end of the third quarter to increase its capital level to 19.7 percent, above the regulatory requirement of 10 percent.

Compiled from Reuters

Source : BusinessDay

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