Skye Bank posts N40.73bn loss FY2015

Skye Bank posts N40.73bn loss FY2015
United Bank for Africa

Skye Bank Plc on Friday announced Loss After Tax of N40.73 billion in its audited year ended December 31, 2015 as against N18.72 billion profit recorded in 2014.

This is contained in a notice to the Nigerian Stock Exchange (NSE) that a loss before tax (PBT) of N37.65 billion was recorded in 2015 from N19.45 billion in 2014.

The lender interest income, however, increased from N107.84 billion in 2014 to N127.90 billion in 2015, indicating 18.6 per cent increase.

Meanwhile, to shore up its operations, the acting Managing Director of the Bank, Tokunmbo Abiru told reporters that Skye Bank has received more than N100 billion in liquidity from the Central Bank of Nigeria since July 4.

Abiru said that central bank staff had been working at the bank for two weeks to support the lender.