EXPECTATIONS of dividend payout by shareholders of Crusader Nigeria Plc may have been dashed again following accumulated losses incurred by the company since 2009. Though, it is understandable that the insurance sub-sector of the Nigerian economy is currently facing serious challenges, analysts still expect Crusader to post better results as one of the most diversified insurance company in the country.
SKYE Bank’s financial result for the period ended December 2011 may have fallen short of stakeholders’ expectation, but the not too impressive figures was not a product of managerial incompetency, nor a sign that the bank is going through some rough weather. The financials are the result of huge non performing loan through diminution in assets.
THOUGH First City Monument Bank (FCMB) plc had a rocky close in the financial year ended December 31, 2011, due to a huge loan write-off, there are indications that it is on the path of regaining profitability.