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Nigeria's Oceanic Bank posts $2.7 bln 9-month loss
December 10, 2009 / 12:14 PM / in 8 years

Nigeria's Oceanic Bank posts $2.7 bln 9-month loss

(Alert corrected to make clear prior year was a profit, not a loss)

LAGOS, Dec 10 (Reuters) - Nigeria’s Oceanic bank OCBK.LG on Thursday posted a pretax loss of 400.9 billion naira ($2.7 billion) for the nine months to September, compared with a profit of 36.52 billion naira a year ago.

Gross earnings at Oceanic, which is one nine banks rescued in a $4 billion bailout by the central bank earlier this year, slumped 58 percent to 46.83 billion, the bank said in a filing to the Nigerian Stock Exchange. (For more Reuters Africa coverage and to have your say on the top issues, visit: af.reuters.com/ ) (Reporting by Chijioke Ohuocha and Oludare Mayowa; Editing by Tume Ahemba/Will Waterman)

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