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Wema Bank after tax drops 31% in 2015 half year

Wema Bank made N1.447 billion as profit after tax in 2014 half year, ended half year 2015 with N997 million.Similarly, profit before tax dipped by…

Wema Bank made N1.447 billion as profit after tax in 2014 half year, ended half year 2015 with N997 million.
Similarly, profit before tax dipped by N529 million or 31.08 per cent to N1.173 billion from N1.702 billion reported in the same period of 2014.
Its interest income dropped from N17.657 billion in the 2014 half year to N17.497 billion in the review period of 2015. The drop in interest income represented N160 million or 0.91 per cent dropped.
Similarly, its operating income declined by N254 million from N12.523 billion it made in 2014 half year to N12.269 billion in 2015 half year.
Total assets of the bank declined from N382.562 billion in 2014 full year to N344.638 billion in 2015 half year result. While its total liabilities during the half year of 2015 dropped to N299.868 billion from N338.794 billion it made in 2014.