WorldStage Newsonline– Royal Exchange Plc, a Nigerian insurer that focuses on life, healthcare and general insurance, financing, asset management, trusteeship and micro finance banking services has released its consolidated annual report and financial statements for the year ended 31 December, 2019 with loss after taxation of N1.313 billion down from N160 million loss in the same period of 2018
The group result released on the Nigerian Stock Exchange (NSE) on Monday showed that total assets declined to N32.107 billion from N35.594 billion while shareholders fund/total equity also dropped to N3.983 billion from N5.149 billion.
The group indicated that there will be no dividend on ordinary shares to its members for the year ended as the case in 2018.
Royal Exchange was incorporated as a private limited liability Company on December 29, 1969, converted to a public limited liability company on July 15, 1989 and was listed on the Nigerian Stock Exchange on December 3, 1990.
