NPF Microfinance bank posts 8% rise in profit in 9 months

NPF Microfinance

NPF Microfinance bank plc in its financial report for the nine months ended in 2017 said its profit rose by 8% to NGN 747.0 million compared to NGN687.0 million reported same period in the year 2016.

The micro-finance bank ended the period with NGN1.8 billion interest income in contrast to NGN1.4 billion it ended the previous year with while net interest income was NGN1.6 billion against NGN1.2 billion in the year before.

Net operating income rose to NGN2.3 billion from NGN1.9 billion recorded in the fiscal year 216 while net impairment loss stood at NGN101.9 million against NGN83.5 million in the previous year.

NPF Microfinance bank said its total assets acquired this period was NGN15.8 billion compared to NGN14.2 billion posted in the year 2016 while total liabilities was NGN10.9 billion versus NGN9.7 billion last year.