SKYE BANK PLC
2013 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT BY TOLULOPE TCRUZZY SANNI.

Skye Bank is a commercial Bank with international banking licence from the CBN. Its primary business focus is in Corporate, Commercial and Retail business segments. The Bank maintains an asset size of over NGN1 trillion, led by a management team with a clear strategic focus and a well diversified banking experience. The Bank has a nation wide distribution platform. It operates in over 240 business offices across Nigeria with 2,555 employees, 597 ATMs and 7212 PoS

Skye Bank is an independent banking institution with a broadly diversified shareholding Base, the bank has close to 500,000 shareholders, none owning more than 5% of total Capital.

PERFORMANCE ANALYSIS
Financial Performance
Skye bank’s gross earnings fell from 127.730bn in 2012 to 127,340bn in 2013 representing a decrease of 0.3%.Although net operating income grew from 69.845bn to 81.257bn representing a 16% increase. Net interest income grew 39% from 44.502bn to 61.698bn, while non-interest income (net fees,commission and other income) fell 18% from 26.698bn to 22.026bn.

The bank’s profit before tax grew by 4% from 16.510bn to 17.136bn. The profit after tax was 16.023bn in 2013 to 12.644bn in 2012. To arrive at this result, the bank grew its total assets by 4% from N1.073.828 Thrillion in 2012 to N1.116.636 Thrillion 2013.

Performance Ratios
Skye bank’s interest margin reveal a stable focus on traditional activities of financial intermediation. About 80% of the gross earnings of the bank has been strongly accounted for by interest earnings while a stable 20% is being accounted for by fee-based earnings. Return on capital employed on a trend analysis between 2012 and 2013 fell from 6.24% in 2012 to 5.84% in 2013. Return on equity rose from 12.84% to 13.3% while return on assets grew from 1.30 to