By Peter OBIORA investadvocate

Nov 04 2010 15.03 GMT

Lagos (INVESTADVOCATE)-Intercontinental Bank Plc (IB Plc) has recorded -39.80 percent (-39.80%) Gross Earnings in its third quarter (Q3) report for the period ended September 30 2010 released Thursday November 04 2010 on the Floor of the Nigerian Stock Exchange (NSE) in Lagos Nigeria.

 

To record the negative Gross Earnings, the Bank in year 2009 recorded N124.289 billion in Q3 of year 2009 compared to N74.822 billion in the same period of year 2010; indicating a loss of 39.80% in the review period.

 

However, the Bank in its Profit after Tax (PAT) recorded a growth of 106.30% in its Q3 of year 2010. PAT reported for the period came from a negative N161.680 billion in Q3 of year 2009 to N10.186 billion in the corresponding period of year 2010; representing a growth of 106.30%.

 

Profit Before Tax (PBT) also grew from a negative of N222.626 billion in Q3 of year 2009 to N12.734 billion in the Bank’s Q3 report for the period ended September 30 2010.

 

Meanwhile,   in a notice given to the Stock Exchange Thursday November 04 2010, The Tourist Company of Nigeria Plc (TCN) announced a change in its Financial Year End from December 31 to June 30. “Consequently, the financial year which started on January 01, 2010 will end June 30, 2011” the notice affirmed.

 

In the same vein, Unity Bank Plc notified the Exchange that Alhaji Lamis S. Dikko, Group Executive Director (GED); Central Directorate has resigned from the Bank effective August 24, 2010.