Polaris bank Celebrates first year of operation, declares ₦27.8billion profit
ON APRIL 27, 20201:59 AMIN BUSINESS
• Capital Adequacy and Liquidity Ratios above regulatory requirements
• To reap benefits of IT investment in 2020
It was cheering news over the weekend as Polaris Bank Limited released its first Audited IFRS 2019 compliant financial result posting a profit before tax of N27.8billion. The result which posits a compelling narrative in the history of Nigeria’s banking industry followed from the turn-around initiatives undertaken by theleadership of the Bank led by theMD/CEO Mr. Adetokunbo Abiru.
According to the Bank’s first full yearfinancial result released during the weekend, Polaris Bank Limited posted a gross earnings figure of ₦150.8bilion and a Profit Before Tax (PBT) of N27.8billion within the first full year of operation. The remarkable achievements coming in the first year of operations of the institution is a clear validation ofregulatory induced interventions in the nation’s history.
Source:https://www.vanguardngr.com/2020/04...ar-of-operation-declares-₦27-8billion-profit/
ON APRIL 27, 20201:59 AMIN BUSINESS
• Capital Adequacy and Liquidity Ratios above regulatory requirements
• To reap benefits of IT investment in 2020
It was cheering news over the weekend as Polaris Bank Limited released its first Audited IFRS 2019 compliant financial result posting a profit before tax of N27.8billion. The result which posits a compelling narrative in the history of Nigeria’s banking industry followed from the turn-around initiatives undertaken by theleadership of the Bank led by theMD/CEO Mr. Adetokunbo Abiru.
According to the Bank’s first full yearfinancial result released during the weekend, Polaris Bank Limited posted a gross earnings figure of ₦150.8bilion and a Profit Before Tax (PBT) of N27.8billion within the first full year of operation. The remarkable achievements coming in the first year of operations of the institution is a clear validation ofregulatory induced interventions in the nation’s history.
Source:https://www.vanguardngr.com/2020/04...ar-of-operation-declares-₦27-8billion-profit/
