Premium Trust Bank Posts N9.33bn as Profit in 18-Month
Premium Trust Bank Limited posted N9.334 billion as profit, according to its summary financial information for 18 months audited by Deloitte & Touche Chartered Accountants.
In the period, Premium Trust Bank generated N24.833 billion as net interest income. Its net fees and commission income for 18 months settled at N16.455 billion. At the end of the period, Premium Trust Bank operating profit reached N42.079 billion amidst strong rivalry in the banking industry.
The bank charge N5.085 billion as impairment on credit losses. In its book, the bank recorded N176.149 billion as loan to customers. Premium Trust Time investment in securities reached N50 billion.
The bank’s net operating income after its impairment charge was NN36.993 billion. As per the financial summary, the bank’s total operating expenses came to N22.845 billion. The net-off left profit before tax was N14.148 billion.
The bank’s interest tax expenses was N4.814 billion, leaving net profit at N9.334 billion at the end of the period. Premium Trust Bank Limited has N311.07 billion in total asset.
Its asset were financed by N36.228 billion total equity, of which only N26 billion is eligible capital for the Central Bank of Nigeria’s recapitalisation program. The bank has N270 billion. #Premium Trust Bank Posts N9.33bn as Profit in 18-Month Naira Steadies as Banks Issue Update on FX Purchase
