The Bank of Industry, BoI, has recorded a profit after tax of N12 billion and an exceptional income of N37 billion from the disposal of WAMCO shares for the financial year ended December 31, 2015.
The bank, hinging its improved profitability on operational efficiency during the financial year, also disbursed loans worth N83.5 billion to 776 enterprises, (47 large enterprises and 729 SMEs) in the year.
A breakdown of the bank’s earnings for the year showed that the bank recorded an unaudited profit before tax of N50.4billion for the year ended December 31, 2015, representing an operating profit of N12billion up by 100 per cent from N6 billion achieved in 2014 and an exceptional income of N37 billion made from the disposal of WAMCO shares.
The bank said that the loans to large enterprises went to companies in Nigeria’s real sectors such as agro-processing, food processing, solid minerals, gas value-chain, engineering and technology and light manufacturing.
