Vanguard News Polaris Bank records N28.9bn in 2020 On By Babajide Komolafe Polaris Bank Limited has recorded Profit Before Tax (PBT) of N28.9 billion in its financial year ended December 2020. This represents four percent growth when compared with the N27.83 billion recorded in the 2019. The bank in a statement announcing the financial results for 2020 said that the increase in profitability is driven by the combination of the significant reduction in interest expense due to its pursuit of low interest-bearing deposits as well as lowering impairment charges on loans and other financial assets. According to the statement, Polaris recorded Return on Asset (ROA) and Return on Equity (ROE) of 2.4% and 29.4% respectively in 2020 which favorably place it as a key player in the industry.