Net interest income improved by 19.4 per cent to N31.038 billion in 2020 from N25.986 billion in 2019.
But net trading income slumped by 73 per cent from N14.789 billion to N3.0966 billion following the crash in Treasury Bills yields last year. The bulk of the net trading income in the previous year came from treasury bills (N14.5421 billion) in 2019.
This dipped to N3.627 billion in 2020.
Consequently, profit before tax rose by three per cent to N6.964 billion in 2020, from N6.760 billion in 2019, while profit after tax fell 2.6 per cent to N5.062 billion in 2020, from N5.199 billion in 2019.
Meanwhile, the bears returned to the stock market yesterday leading to a decline of 0.31 per cent to close at 40,095.49, while market capitalisation shed N65.8 billion to be at N21 trillion. The decline followed sell-offs in
Also, the volume and value of trading tanked 30.6 per cent and 47.6 per cent N 326.0 million shares and N3.7 billion respectively. The most traded stocks by volume were
Performance across sectors was mixed as the NSE Banking Index led laggards with 1.4 per cent , followed by the NSE Consumer Goods Index and NSE Oil & Gas Index closed lower by 0.8 per cent and 0.2 per cent in that order. But the NSE Insurance Index rose 0.2 per cent, while the NSE Industrial Goods Index closed flat.
Copyright This Day. Distributed by AllAfrica Global Media (allAfrica.com)., source