By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Three Banks, Pan Africa Bank, Ecobank Transnational Incorporated (ETI), Fidelity Bank Plc and Sterling Bank Plc Wednesday posted growths in their Profits After Tax (PAT) for the Third Quarter (Q3) Report for the Period Ended September 30 2012.

This is contained in the Result Announcements of the Banks released to the Nigerian Stock Exchange (NSE) and made available to www.investadvocateng.com in Lagos Nigeria.

A breakdown of these showed that Pan Africa Bank, ETI increased its Profit After Tax (PAT) for the Period from N19.109 billion in its Q3 2011 Report to N24.087 billion in the same period of year 2012; indicating an increase in PAT of 26.1 percent (26.1%).

Profit Before Tax (PBT) also grew by 10.9% in the review period as the Bank recorded N30.483 billion in the Q3 of 2012 compared to N27.478 billion in the corresponding period of year 2011.

While Gross Earnings for the period also increased from N155.895 billion in the Q3 of 2011 to N254.384 billion in the review period; representing an increase of 63.2%.

Also, Dividend Income grew from N185.731 billion in the Q3 of 2011 to N351.735 billion showing an appreciation of 89.4%.

On its part, Fidelity Bank made a Total Profit for the Period of N13.050 billion compared to N6.009 billion in the Q3 of 2011 representing an increase in Total Profit of 117.2%.

PBT also increased to N16.319 billion in the Q3 of 2012 from N7.309 billion in the same period of 2011; indicating an increase of N123.3%.

Total Gross Income grew by 74.5% in the review period as Fidelity bank recorded N80.370 billion compared to N46.058 billion in the Third Quarter of 2011.

Sterling Bank in its Q3 2012 Report for the Period Ended September 30 2012 recorded a Profit After Tax (PAT) of N4.493 billion compared to N2.743 billion in the corresponding period of 2011; indicating a growth of 63.8%.

PBT also increased from N3.012 billion in the Q3 of 2011 compared to N4.769 billion in the same period of 2012, showing an increase of 58.3% in the review period.

In the same vein, the Bank recorded a significant increase in Gross Earnings; as it posted N50.742 billion in the Third Quarter of 2012 compared to N26.344 billion in the Q3 Period of 2011; representing an increase of 92.6%.