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Nigeria's Springbank posts 23 bln naira pre-tax loss
December 11, 2009 / 1:14 PM / 8 years ago

Nigeria's Springbank posts 23 bln naira pre-tax loss

LAGOS, Dec 11 (Reuters) - Nigeria’s Springbank SPRN.LG on Friday posted a pre-tax loss of 23.3 billion naira ($155 mln) for the five months to September, hit by provisions of 18.16 billion naira following a central bank audit of the sector.

The bank, one of nine rescued in a $4 billion bailout earlier this year, said gross earnings in the period reached 9.29 billion naira.

Springbank 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: af.reuters.com/ ) (Reporting by Oludare Mayowa; Writing by Nick Tattersall)

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