By InvestAdvocate

Lagos (INVESTADVOCATE)-Diamond Bank Plc Friday reported a loss of N703.4 million in its Third Quarter Result for the period ended September 30 2011.

From the Profit and Loss Information made available to the Nigerian Stock Exchange (NSE) and obtained by www.investadvocateng.com, the Bank recorded a loss in Profit After Tax (PAT) of N703.368 million in the Q3 of 2011 compared to N4.878 billion profit in the corresponding period of 2010; indicating a loss of 114.4 percent (114.4%) in the review period.

In the same vein, Profit Before Tax (PBT) also slipped from N7.006 billion in the Third Quarter of year 2010 to N425.477 million in the review period; showing a slip of 93.9%.

While Gross Earnings was N68.326 billion in the Q3 of 2011 compared with N67.033 billion; representing a slight increase of 1.9% in the review period.

Meanwhile, on Thursday, United Bank for Africa Plc (UBA) declared a N10.105 billion PAT in its Q3 report for the period ended September 30 2011 compared to N6.648 billion recorded in the corresponding period of 2010; indicating an increase in Profit After Tax of 52.0%.

PBT grew slightly from N11.588 billion in Q3 of 2010 to N11.143 billion in the same period of 2011; showing a growth of 4.8%.

While Gross Earnings decreased from N136.366 billion in the Third Quarter of 2010 compared to N132.814 billion in the review period; representing a decrease of 2.6% in the review period.