December 11, 2009 / 2:19 PM / 8 years ago

Nigeria's Intercontinental posts 447 bln naira loss

LAGOS, Dec 11 (Reuters) - Nigeria’s Intercontinental Bank INBK.LG on Friday posted a pre-tax loss of 447.45 billion naira ($3 billion) for the seven months to September, hit by exceptional items of 437 billion naira.

The bank, one of nine rescued in a $4 billion bailout earlier this year, said gross earnings in the period reached 119.77 billion naira.

Intercontinental is changing its financial year to the calendar year in line with a central bank directive to establish a uniform reporting period across the banking sector, meaning year-ago comparisons were not immediately available. (For more Reuters Africa coverage and to have your say on the top issues, visit: ) (Reporting by Oludare Mayowa; Writing by Nick Tattersall)

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