By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s mid-tier lender, Skye Bank Plc on Thursday said its pretax profit for the period ended September 30, 2014 declined 15.3 percent to N12.333 billion from N14.562 billion recorded in the same period of 2013, the lender said in a filing with the Nigerian Stock Exchange.

Similarly, post tax profit dropped same margin of 15.3 percent to N9.866 billion in the nine months period of 2014 from N11.650 billion reported in 2013.

The mid-tier lender said its gross earnings went down slightly from N102.044 billion in the third quarter of 2013 to N97.126 billion in the corresponding period of 2014; indicating a drop of 4.8 percent.

At the end of today’s transaction on the floor of the Nigerian bourse, the bank lost 0.01 kobo as it opened at N2.51 and closed at N2.50; showing a loss of 0.40 percent.

Skye Bank recently signed an agreement with Nigeria’s Asset Management Corporation (AMCON) to acquire Mainstreet Bank Limited; following the bank’s emergence as the preferred buyer for the rescued lender.