Heritage Bank reports N1.49 billion profit for 2015

18 Apr 2016
Financial Nigeria


Heritage Bank's gross earnings reached N24.17 billion last year.

Ifie Sekibo, Managing Director/CEO, Heritage Bank Limited

Heritage Bank Limited, a Nigerian lender, has reported that its pre-tax profit reached N1.49 billion for the full year ended December 31, 2015.

According to its financial statement published on Monday, the bank said gross earnings reached N24.17 billion last year while total assets stood at N483.42 billion. In the year under review, the bank reported basic earnings per share of 28 kobo.

Heritage Bank burst onto the Nigerian financial landscape in 2012 after it acquired the banking license of Societe Generale Bank of Nigeria from the Central Bank of Nigeria. In October 2014, Heritage Bank paid N56.1 billion ($340 million) to acquire Enterprise Bank Limited from the Asset Management Corporation of Nigeria. The bank currently has over 200 branches spread across the country.

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