Skye Bank has posted a gross earning of N73.3 billion in the third quarter ended September 30,2011, an 11 per cent growth over the N66.2 billion posted in the comparable period of last year.
Profit after tax also rose by nearly 10 per cent to N9.4 billion from N8.6 billion last year, even though it was 8.5 per cent down from the previous quarter.
The bank made progress in the third quarter with strong loan growth, improving net loans by over 12 per cent from the previous quarter, while loans and advances went up by 9.7 per cent from N385.6 billion to N422.8 billion.
The bank made effort to improve its asset quality, as deposits grew by 19.4 per cent to N567.1 billion, while investment soared by over 80 per cent from N82.1 billion to N148.2 billion.
The bank’s net asset, which refers to the firm’s networth, however dipped by 5 per cent from N111.3 billion to N105.8 billion during the review period.