Heritage Bank posts N1.5bn profit in 2015

Heritage Bank Plc has announced its audited financial report for 2015 with a profit before tax of N1.5 billion.
This financial statement of the bank represents its first full operating year since its acquisition of former Enterprise Bank Plc in October 2014.
Details of the bank’s statement showed that in 2015, it attracted N312 billion as deposit from customers, indicating confidence in it and recorded Gross Earnings of N24.2 billion, Net Interest Income of N12.2 billion and Profit after Tax of N1.1 billion.
The bank supported businesses and individuals with N175 billion as loans and advances while its total asset stood at N483.4 billion for the 2015 financial year.
Commenting, the Managing Director/Chief Executive of the bank, Mr. Ifie Sekibo said: “This result is a testimony to the increased acceptability of Heritage Bank’s innovative products and services by the banking public. It is also a reward for the diligent commitment of the staff and management of the bank to our mission to create, preserve and transfer wealth across generations.
“In the 2016 operating year, our desire to reciprocate the patronage of our customers and goodwill from stakeholders has prompted us to introduce new and bespoke services driven by cutting edge technology designed to empower businesses and individuals with opportunities to achieve economic prosperity.
“The positive response to these efforts gives us assurance of improved financial performance in 2016 leading to enhanced returns to our investors,” he said.