Intercontinental bank releases half year results
December 17th, 2007 Tunde Brown || tunde.brown@stockmarketnigeria.com
By Tunde Brown
Intercontinental Bank Plc, one of the largest banks in Nigeria, last week released its half-year results for the period ended August 31st 2007. The comparative analysis of figures as at the same period last financial year demonstrates a performance that almost doubled in every aspect of wealth measurement.
Gross earnings grew from N33.358bn same period last year, to N60.914bn as at half-year end, representing an increase by 82.61 percent. Profit before and after tax increased by 87.92 percent and 72.65 percent to N14.714bn and N11.317bn respectively.
The share price of the bank, after its public offer last year, has risen steadily from the offer price of N13.50 to as high as N36.75 this year, closing at N35.80 last week.
Over 250,000 shareholders of the Bank, will end the year with smiles as the bank has declared an interim dividend of 35 kobo for the half year ended August 31, 2007. The closure date is 18th of December 2007, while the payment date is 24th December 20
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