By Ademola Alawiye

Monday, 1 Nov 2010

Oceanic Bank International Plc has announced a third quarter profit of N10.39bn as against N68.41bn loss after tax recorded in the comparable period of 2009.

The bank also recorded a net liability value of N108.31m, compared with N118.22m recorded in 2009, while gross earnings stood at N89.44bn, as against N129.74bn recorded in the comparable period of 2009.

The Managing Director, Oceanic Bank, Mr. John Aboh, expressed satisfaction with the result, saying that the third quarter result was an improvement on the second quarter result.

He added that the bank was now poised to build on its achievement to record greater feat in the fourth quarter.

Meanwhile, Finbank Plc also released its unaudited result for the third quarter ended September 30, 2010, showing gross earnings of N44.55bn, as against N55.02bn in the comparable period of 2009.

The company’s profit after tax stood at N3.72bn, compared with a loss after tax of N122.72bn in 2009, while net liability value stood at N119.61bn, as against N126.60bn in 2009.

Access Bank Plc recorded N77.95bn, as against N91.93bn in its unaudited result for the third quarter ended September 30, 2010.

The bank’s profit after tax stood at N9.56bn compared with a loss after tax of N9.73bn in 2009, while its net asset value stood at N108.31bn, compared with N118.22bn in 2009.

Skye Bank Plc in its unaudited result for the third quarter ended September 30, 2010, recorded gross earnings of N66.17bn, compared to N80.02bn in the comparable period of 2009.

The company‘s profit after tax stood at N8.55bn as against a loss after tax of N10.44bn in 2009, while the net assets value stood at N106.86bn compared to N88.09bn in December 2009.

Source: Punch