{"id":452874,"date":"2011-07-04T07:53:21","date_gmt":"2011-07-04T07:53:21","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/"},"modified":"2011-07-04T07:53:21","modified_gmt":"2011-07-04T07:53:21","slug":"bank-phb-declares-n32-billion-profit","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/","title":{"rendered":"Bank PHB Declares N32 Billion Profit"},"content":{"rendered":"<div readability=\"29.3246339911\">\n<hr class=\"thin clear\" \/>\n<hr class=\"thin clear\" \/>\n<p><a href=\"http:\/\/www.dailytrust.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/dailytrust180.jpg\" alt=\"Daily Trust (Abuja)\" title=\"Visit Daily Trust (Abuja)\" \/><\/a><\/p>\n<p>Kayode Ekundayo<\/p>\n<p>4 July 2011<\/p>\n<hr class=\"thin clear\" \/>\n<p>Lagos \u2014 Bank PHB Plc has declared a profit before tax of N32 billion for the year ended December 31, 2010.<\/p>\n<p>In its presentation to the Nigerian Stock Exchange (NSE), the bank also declared a loss after tax of N58 billion.<\/p>\n<p>BankPHB is one of the rescued banks whose chief executive officer was sacked by the Central Bank of Nigeria (CBN) in 2009.<\/p>\n<p>It said due to the high level of losses in the preceding year, the bank had accumulated Deferred Tax Assets (DTA) of N88 billion while the intangible asset was written off the books through the tax line, leading to a loss after tax of N58 billion.<\/p>\n<p>The bank&#8217;s management stated that it has followed the provisions of the prudential guidelines issued by the Central Bank, effective July 2010 where DTA was classified as intangible assets that should be taken against capital.<\/p>\n<p>Our investigation reveals that some other intervened banks continue to carry the DTA on their balance sheets.<\/p>\n<p>It will be recalled that the Central Bank of Nigeria (CBN) had expressed concern with the potential estimated industry-wide mark-to-market losses of N350 billion from the portfolio of FGN Bonds.<\/p>\n<p>CBN had encouraged the banks to carry out their bond classification with a view towards eliminating the losses. In addition to write-off of the DTA, the bank also took additional clean up provisions to ensure that future earnings are unimpaired.<\/p>\n<p><\/p>\n<fieldset>\n<legend align=\"center\"><strong>More News on allAfrica.com<\/strong><\/legend>\n<\/fieldset>\n<p>AllAfrica &#8211; All the Time<\/p>\n<hr \/>\n<\/div>\n<\/p>\n<p>Visit link:<br \/>\n<a target=\"_blank\" href=\"http:\/\/allafrica.com\/stories\/201107040191.html\" title=\"Bank PHB Declares N32 Billion Profit\" rel=\"noopener noreferrer\">Bank PHB Declares N32 Billion Profit<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> Kayode Ekundayo 4 July 2011 Lagos \u2014 Bank PHB Plc has declared a profit before tax of N32 billion for the year ended December 31, 2010. In its presentation to the Nigerian Stock Exchange (NSE), the bank also declared a loss after tax of N58 billion. BankPHB is one of the rescued banks whose chief executive officer was sacked by the Central Bank of Nigeria (CBN) in 2009<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-452874","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bank PHB Declares N32 Billion Profit - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Bank PHB Declares N32 Billion Profit - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Kayode Ekundayo 4 July 2011 Lagos \u2014 Bank PHB Plc has declared a profit before tax of N32 billion for the year ended December 31, 2010. In its presentation to the Nigerian Stock Exchange (NSE), the bank also declared a loss after tax of N58 billion. BankPHB is one of the rescued banks whose chief executive officer was sacked by the Central Bank of Nigeria (CBN) in 2009\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/dailytrust180.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Bank PHB Declares N32 Billion Profit\",\"datePublished\":\"2011-07-04T07:53:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/\"},\"wordCount\":254,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/dailytrust180.jpg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/\",\"name\":\"Bank PHB Declares N32 Billion Profit - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/dailytrust180.jpg\",\"datePublished\":\"2011-07-04T07:53:21+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/#primaryimage\",\"url\":\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/dailytrust180.jpg\",\"contentUrl\":\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/dailytrust180.jpg\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bank PHB Declares N32 Billion Profit - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/07\/04\/bank-phb-declares-n32-billion-profit\/","twitter_card":"summary_large_image","twitter_title":"Bank PHB Declares N32 Billion Profit - Ghanamma.com","twitter_description":"Kayode Ekundayo 4 July 2011 Lagos \u2014 Bank PHB Plc has declared a profit before tax of N32 billion for the year ended December 31, 2010. In its presentation to the Nigerian Stock Exchange (NSE), the bank also declared a loss after tax of N58 billion. 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