SKYE BANK GETS N100BN LOAN FROM CBN, POSTS N40BN LOSS FOR 2015

The Skye Bank Plc has said it got more than N100 billion cash from the Central Bank of Nigeria (CBN ), in July,  to shore up its operations.
The bank spoke through its new managing director, Tokunmbo Abiru, who said the central bank staff had worked at the bank to support the lender.
The CBN has provided a loan to Skye Bank Plc to boost its liquidity after panic rush by customers to withdraw their cash from the lender forced liquidity shortage.
The short-term lending facility would allow the bank’s new management to “ensure that some withdrawals it suffered in the wake of the undue panic of last week do not adversely affect its operations,’’ said Isaac Okorafor, a spokesman for the CBN.
Skye Bank Plc, Friday, said it posted a loss after tax of N40.73bn in its audited year ended December 31, 2015, compared with N18.72bn profit it made the previous year.
Similarly, the lender reported a loss before tax (PBT) of N37.65bn compared with a profit before tax (PBT) of N19.45bn in the corresponding period of 2014.