Intercontinental Bank Nigeria Grows By 88% in Half Year
December 18, 2007 by tim
In the audited results of its half year ended August 31, 2007, Intercontinental Bank has declared a growth of 88% which amounted to N14.7 billion Profit Before Tax (PBT) as against N7.83 billion of year 2006.
A Profit After Tax (PAT) of 73% increase, which is N11.3 billion was also recorded compared to the PAT of N6.6 billion in 2006. The bank’s gross revenue earnings rose by 83% which is N60.9 billion over the N33.4 billion of 2006.
It would be recalled that in 2005, the bank paid an interim dividend of 20kobo per 50kobo ordinary share, in 2006 it added to it by giving 30kobo while in 2007 it has announced a 35kobo interim dividend on every 50kobo ordinary share.
Mr. Ken Tadaferua, Corporate Affairs of the bank, said there has been encouraging comments from within and outside
He added that with the current result, the bank’s earnings would would multiply by the end of the year.
