Diamond Bank profit after tax declines by 77.6 per cent in 2Q

Diamond Bank Plc has recorded profit after tax of N1.798 billion for its half year result ended June 30, 2018.
The Bank’s second quarter financial operations submitted to Nigerian Stock Exchange showed that the profit declined by N6.225 billiob or 77.6 per cent compared with N8.023 billion reported in the preceding period of 2017.
The profit before tax also dropped from N9.517 billion in the comparative period of 2017 to N2.919 billion, representing a drop of N6.598 billion or 69 per cent.
The analysis of the bank result showed that the gross earnings grew from N97.895 billion achieved in the preceding year to N98.503 billion.
Net interest income which stood at N54.083 billion in the preceding year went down to N46.481 billion while net operating income dropped from N53.024 billion in the same period of 2017 to N47.171 billion.
Net fee and Commission income down from N15.710 billion to N14.755 billion at end of June 2018.
The Bank’s total assets declined from N1.714 trillion recorded in the corresponding period of 2017 to N1.587 trillion within the period under review while total liabilities down from N1.491 trillion same period in the preceding year to N1.366 trillion in the second quarter of this year.




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