Skye Bank says Q1 profit down 25.5%

Nigeria’s Skye Bank said on Monday its first-quarter pretax profit fell to 3.45 billion naira ($21.5 million), down 25.5 percent from 4.63 billion naira in the same period of last year.

Gross earnings at the midtier lender also dropped to 34.33 billion naira during the three-month period, against 34.69 billion a year earlier, it said in a filing with the Nigerian Stock Exchange.