LAGOS, JULY 6, 2016 – Heritage Bank Plc says it has posted a profit before tax of N1.5 billion for the financial year ended, Dec. 31, 2015.
The bank said this in a statement issued on its 2015 audited financial results on Tuesday in Lagos.
According to the bank, the 2015 financial result represents its first full operating year since its acquisition of former Enterprise Bank Plc in October 2014.
The bank said that the result showed that the bank recorded gross earnings of N24 billion, net interest income of N12.2 billion and profit after tax of N1.1 billion.
It also said that the bank during the under review, recorded N312 billion as deposit from customers.
On loans and advances, Heritage Bank said it supported businesses and individuals with N175 billion.
The bank said it also recorded asset worth of N483.4 billion for the 2015 operating year.
The Managing Director of Heritage Bank, Mr Ifie Sekibo while commenting on the financial statement the development represented the acceptance of the bank by the general public.
Sekibo also attributed the impressive financial statement to the commitment from bank staff and management.
The bank chief said, “This result is a testimony to the increased acceptability of Heritage Bank’s innovative products and services by the banking public.
“It is also a reward for the diligent commitment of the staff and management of the bank to our mission to create, preserve and transfer wealth across generations.
“In the 2016 operating year, our desire to reciprocate the patronage of our customers and goodwill from stakeholders has prompted us to introduce new and bespoke services.
“This is driven by cutting edge technology designed to empower businesses and individuals with opportunities to achieve economic prosperity.
“The positive response to these efforts gives us assurance of improved financial performance in 2016 leading to enhanced returns to our investors.”
Heritage Bank was selected by the Central Bank of Nigeria (CBN) as its pilot partner to unveil, administer and manage the N3billion Youth Innovative Entrepreneurship Development Programme (YIEDP).
The Programme is aimed at creating sustainable wealth and employment in the country with focus on dependable job creating sectors.
The sectors are agricultural value chain which includes fish farming, poultry, snail farming,with others like cottage industry, mining and solid minerals.
Others are Information and Communications Technology (ICT) and creative industry such as tourism, arts and crafts.
