December 15, 2008

Gross Earnings of Platinum Habib Bank (Bank PHB) in three months to September 30, 2008 hit a high of N35 billion, more than twice the earnings of N15 billion it made in the same period of its 2007/2008 financial year.

The bank announced in the period, profit before tax of N8.4 billion, representing 84 percent over N4.54 billion for a similar period ended September 2007.Profit after tax in the three months closed at N6.5 billion, representing 84 percent higher than N3.5 billion within the same period.

The earnings per share (eps) of 32 kobo recorded in the first quarter is also encouraging especially when put against the current share price of the bank at about N8 per share.In the midst of a strong bearish market that has seen most stocks decline in prices, capital market analysts are looking beyond the bearish trend and recommending stocks with strong rebound potential to investors.