Keystone Bank Declares N2.8bn Profit

Phillip-Ikeazor,Keystone Bank MD
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Phillip-Ikeazor,Keystone Bank MD
Phillip-Ikeazor,Keystone Bank MD

A statement from the Divisional Head, Marketing and Corporate Communication, Keystone Bank Limited, Mr. Mohammed Ciroma said the bank’s total comprehensive income rose by 157 per cent, from a loss of N13.79 billion as at 2011, to N7.81 billion at the end of 2012, while its customers’ deposits increased from N282.75 billion previously to N297.54billion during the review period.
Against the loss of N7.9billion in five months ended 31 December 2011, the bank on Monday said it made a profit before tax of N2.8 billion as at December 31, 2012.

Similarly, Keystone Bank’s gross earnings, according to the statement, rose by 105 per cent, from N23.9 billion as at 2011, to N49 billion as at December 2012, while its total assets grew by seven per cent, from N361.48 billion in 2011 to N388.23 billion as at 2012.

Speaking on the bank’s performance, the Managing Director of the bank, Mr. Philip Ikeazor, said the plan to grow Keystone Bank from August 2011 was based on three primary elements.

“The first was to ensure a robust information technology and e-banking platform is in place and upgraded for prime efficiency. The second was to focus our customer service. The third is to return the bank to profitability and grow market share,” Ikeazor explained.

The Keystone Bank boss also said the bank would continue to harness the skills of its human capital and technology to provide premium banking services to corporate and retail customers.

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