Nigeria’s Union Bank said on Thursday its half-year pretax profit fell to 9.8 billion naira ($61.1 mln), down 4.2 percent from 10.2 billion naira last year.

Shares in Union Bank, which had gained 63 percent since the start of the year, were trading flat at 12 naira at 1130 GMT.

The lender also said gross earning dropped slightly to 56.2 billion naira during the six months to June 30, as against 56.7 billion naira a year ago.

Source: Reuters (by Oludare Mayowa)