Intercontinental bank Plc.

yesterday Intercontinental Bank plc made available its results for the half year ended August 2008 to dealing members of the Nigerian Stock Exchange. The results showed a gross income growth of 98.7 percent to N121 billion. Net profit increased significantly by 65.5 percent to N18.73 billion while net profit margin dipped by 15.5 percent compared to 18.6 percent recorded in corresponding period in 2007.

Afribank Plc.

Results of the Bank made public yesterday for the half year ended September 2008 showed gross earning rising by 122.9 percent to N43.43 billion. Net profit increased by 120.7 percent to N12.17 billion while net profit margin was 28 percent compared to 28.3 percent recorded in same period last year.

Although the results of these banks were impressive their prices did not appreciate at the close of market yesterday, investors should be aware that the bearish nature of the market acted to that effect. However it is note worthy that with the current measures being put in place, the market would soon begin to pick up.

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This entry was posted on Friday, October 10th, 2008 at 11:24 am and is filed under Stock Market News. You can follow any responses to this entry through the RSS 2.0 feed. Tags: Afribank, Intercontinental bank
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