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Last Updated: Saturday, December 11th, 2004 HOME | Previous Page NPF Community Bank records N86m profit The Nigeria Police Force (NPF) Community Bank has declared a profit of N85.8 million for the 2003 financial year. Chairman, board of directors of the bank, Mrs Rachael Iyamabo  who announced this at an Annual General Meeting in Lagos said it had over one billion naira deposit with a paid-up share capital of 58.6 million. The chairman noted that despite the harsh business environment in the country the bank had been responding positively to the challenges in the sector. She said the bank in the year under review introduced new products - Police Focal Account (POFA) and Police After Service Account (PASA), stressing that the products were tailored to meet the needs of members of Police Community. Mrs. Iyamabo said the bank had responded positively to its social responsibilities with an annual cash gift to outstanding students of the Police Secondary Schools. The chairman further said that the bank repaired a borehole sunk in the police barracks in Obalende and that it had established seven new  zonal liaison offices for which it was awaiting the approval of the Central Bank of Nigeria CBN. She commended the bank’s performance in the year under review, saying it recorded a gross earning of 16 percent, representing N308, 647 million in 20002 and N358, 118 million in 2003.       Copyright� 2004. All Rights Reserved. Independent Newspapers Limited Block5, Plot 7D, Wempco Road, Ogba, P.M.B. 21777, Ikeja, Lagos State, Nigeria. www.independentng.com e-mail: [email protected] Designed By Powered By DNet.

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