Keystone Bank Out of the Woods, Declares N2.8bn Profit

From a loss of N7.9 billion in five months ended 31 December 2011, Keystone Bank Limited has posted a Profit-Before-Tax of N2.8 billion for the year ended December 31, 2012.
In the same breadth, Total Comprehensive Income of the Bank rose by 157 percent, from a loss of N13.79 billion to N7.81 billion, while customers’ deposits leapt from N282.75 billion to N297.54 billion during the review period.
The Divisional Head, Marketing and Corporate Communication of the bank, Mohammed Ciroma in a statement today, said gross earnings rose by 105 percent, from N23.9 billion to N49 billion, while total assets grew by 7 per cent, from N361.48 billion to N388.23 billion.
Speaking on the bank’s performance, the Managing Director of the bank, Mr. Philip Ikeazor said the plan to grow Keystone Bank from August 2011 was based on three primary elements. “The first was to ensure a robust IT and E-Banking platform is in place and upgraded for prime efficiency. The second was to focus our customer service. The third is to return the bank to profitability and grow market share.”
The Keystone Bank boss also stated that the bank will continue to harness the skills of its human capital and cutting edge banking technology to provide premium banking services to corporate and retail customers.
 

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