Her­itage Bank posts N1.5bn profit in 2015

Daily Trust - - BUSINESS - By Chris Agabi

Her­itage Bank Plc has an­nounced its au­dited fi­nan­cial re­port for 2015 with a profit be­fore tax of N1.5 bil­lion. This fi­nan­cial state­ment of the bank rep­re­sents its first full op­er­at­ing year since its ac­qui­si­tion of for­mer En­ter­prise Bank Plc in Oc­to­ber 2014.

De­tails of the bank's state­ment showed that in 2015, it at­tracted N312 bil­lion as de­posit from cus­tomers, in­di­cat­ing con­fi­dence in it and recorded Gross Earn­ings of N24.2 bil­lion, Net In­ter­est In­come of N12.2 bil­lion and Profit af­ter Tax of N1.1 bil­lion.

The bank sup­ported busi­nesses and in­di­vid­u­als with N175 bil­lion as loans and ad­vances while its to­tal as­set stood at N483.4 bil­lion for the 2015 fi­nan­cial year.

Com­ment­ing, the Man­ag­ing Di­rec­tor/Chief Ex­ec­u­tive of the bank, Mr. Ifie Sek­ibo said: “This re­sult is a tes­ti­mony to the in­creased ac­cept­abil­ity of Her­itage Bank’s in­no­va­tive prod­ucts and ser­vices by the bank­ing pub­lic. It is also a re­ward for the dili­gent com­mit­ment of the staff and man­age­ment of the bank to our mis­sion to cre­ate, pre­serve and trans­fer wealth across gen­er­a­tions.

“In the 2016 op­er­at­ing year, our de­sire to re­cip­ro­cate the pa­tron­age of our cus­tomers and good­will from stake­hold­ers has prompted us to in­tro­duce new and be­spoke ser­vices driven by cut­ting edge tech­nol­ogy de­signed to em­power busi­nesses and in­di­vid­u­als with op­por­tu­ni­ties to achieve eco­nomic pros­per­ity.

“The pos­i­tive re­sponse to these ef­forts gives us as­sur­ance of im­proved fi­nan­cial per­for­mance in 2016 lead­ing to en­hanced re­turns to our in­vestors,” he said.

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