By investadvocate
June 21, 2010- 12:20 GMT
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Spring Bank Plc (Springbank) has posted a loss of 136.25 percent (136.25%) in its 2009 Financial Year End (FYE) released on the Floor of the Nigerian Stock Exchange (NSE) in Lagos Nigeria. The bank made the loss when its Profit/Loss after Tax increased from N10.228 billion in year 2008 to N24.164 billion in year 2009 FYE.
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Gross Earnings decreased from            N25.124 billion in year 2008 to N17.290 billion in the review period of year 2009, indicating a decrease of 31.18 percent (13.18%).
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Also, Profit before Tax (PBT) N28.733 billion in year 2009 from N10.134 in year 2008 showing a PBT difference of (183.53%) in the review period.
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However, the audited results for the period ended December 31 2009 shows no proposed dividend payout to investors in the review period. Without prejudice from investadvocate a company that posted N24.164 billion loss may not likely to pay dividend to its shareholders.
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