Resort savings & loans records N192m interest income in 3Q

Resort Savings and Loans Plc recorded interest income of N192.043 million for the third quarter financial year ended September, 2018. The amount represents an increase of N95.054 million or  98.004 per cent compared with N96.989 million reported the same period in 2017.

The interest expenses also surged from N112.615 million to N117.108 million while net interest income rose from N53.696 million to N153.239 million at the end of September this year. 

The operating costs reduced from N72.976 million to N61.028 million.

The company in its second quarter financial result ended June 30, 2018 reported of N174.725 million from N104.797 million in the preceding year while interest expenses declined from N120.392 million to N113.488 million while net interest income stood at N61.236 million against negative of N15.594 million in the comparative period of 2017. Loans and other advances went to N634.770 million from N120.336 million in the preceding year while the fixed assets dropped to N56.742 million against N71.449 million on the preceding year.

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