By Amaka Ifeakandu
Lagos
Diamond Bank has recorded low performance for the financial year ended December 31, 2015 as profit for the year declined to N5.656 billion. The amount represents a drop of N19.829 billion or 77.8 per cent compared with N25.485 billion profit reported in the preceding year. Also, the bank’s profit before tax went down to N7.092 billion from N28.101 billion in the previous year, indicating decrease of N21.009 billion or 74.8 per cent .
The bank’s result submitted to Nigerian Stock Exchange, showed that gross earnings increased from N208.402 billion recorded in the preceding year to N217.091 billion within the period under review. The total assets dropped to N1.752 trillion at the end of December against N1.933 trillion achieved in the comparative period.
Total Liabilities down to N1.538 trillion from N1.724 trillion while total equity stood at 214.609 billion compared with N209.024 reported in the comparable period. The basic earnings fell from 166 kobo to 24 kobo at the end of December, 2015
