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Wema Bank Posts N1.814 billion Loss in Q3 2012

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wema bank2By InvestAdvocate

Lagos (INVESTADVOCATE)-Wema Bank Plc Friday reported a Profit (Loss) After Tax of N1.814 billion in its Third Quarter (Q3) Report for the Period Ended September 30 2012.

This is contained in the Unaudited Third Quarter Report of the Bank released to the Nigerian Stock Exchange (NSE) and made available to www.investadvocateng.com in Lagos Nigeria.

To record the Loss, Profit (Loss) After Tax of the Bank was –N1.197 billion in the Q3 of 2011 compared with –N1.814 billion in the review period of 2012; indicating a Loss of -251.5 percent (-251.5%).

Profit Before Tax –N1.783 billion in the Q3 of 2012 compared with N1.408 billion recorded in the Q3 of 2011; showing a Loss of 226.6% in the review period.

While Gross Earnings increased by 14.1% as the Bank recorded NN19.834 billion in the Third Quarter of 2012 compared with N17.381 billion declared in the same period of 2011.

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