Specifically, the bank's unaudited result for the six months ended
The bank's operating income stood N157.8 billion, compared to N155.5 billion in 2013, an increase of 1.5 per cent, while profit before tax (PBT) however stood at N48.3 billion, compared to N54.8 billion posted in 2013.
Commenting on the results, Chief Executive officer of
"We continue to implement measures to ensure improved performance with a review of the current business model of our Commercial Banking business group and the Investment Banking and Asset Management business in the coming period.
"This is geared towards harnessing our competitive advantage, delivering excellent service and consolidating our position as a well-diversified and leading financial services Group.
"We remain confident in the future, building further traction from our non-banking subsidiaries, notably the Investment Banking and Asset Management as well as the Insurance business group.
On the bank's achievement so far, Machido explained that
"This is the largest subordinated Eurobond ever issued by any Nigerian financial institution with the lowest coupon by any African financial institution at eight per cent.
"The bank completed the acquisition of
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