Replicating the remarkable performance achieved in the first two quarters of the current fiscal year, the bank’s gross earnings grew by 115.2 per cent to N1.309 trillion up from N608bn recorded last year.
Browsing: Profit Before Tax
Specifically, the bank’s Gross Earnings rose to N608 billion, up from N493 billion recorded in September 2021, while operating income also grew by 27.3% to close at N414.1 billion as at September 2022, up from N334.8 billion achieved a year earlier.
In a statement made to the public by the bank, the Managing Director. Ademola Adebise said, “I am delighted to announce our performance for the year ended 31st December 2021. The Bank’s FY 2021 results show robust growth in all key financial metrics despite the challenging macro-economic environment.
This was disclosed in the financial institution’s unaudited financial results for the first half of 2021.
The Bank’s audited gross earnings shows a 15 per cent improvement from the N666.75 billion posted for the comparative period of 2019.
The bank in a statement in Abuja on Monday said it had sustained the financial performance trajectory of recent years with another set of impressive financial results.
The PAT represented an increase 56.65 per cent when compared with N31.6 billion achieved in the corresponding period of 2019.
A review of the results showed positive improvements on a year-on-year basis with profit before tax rising by 16 per cent from N3.16 billion to N3.67 billion, while profit after tax rose by 10 per cent up from N2.79 billion to N3.06 billion.
The bank stated this in its unaudited result submitted to the Nigerian Stock Exchange in Lagos.