In the Bank’s unaudited Q1 results submitted to the Nigerian Stock Exchange on Friday, the retail lender profit before tax (PBT) grew by 43 per cent to N784.3million from N550.1 million recorded in the corresponding period of 2020. The total assets of the bank for the period showed an appreciable growth of 42 per cent to close at N521.5 billion, from N366.8 billion in the corresponding period of 2020. The balance sheet of the bank had been considerably de-risked with the non-performing loan (NPL) ratio of near-zero per cent, which it has consistently maintained over time. The top-line performance was driven by improvement in net interest income margins which reported 16 per cent growth. Like the multi-language service channels, customers are to expect more innovations as the year unfolds”.

Source: The Guardian May 03, 2021 01:18 UTC