The tier one Bank’s results released on the Nigerian Exchange Limited revealed a growth of 9.9 per cent in gross earnings from N765.558 billion 2021 from N696.450 billion in 2020, while net interest income stood at N320.804 billion as against N299.682 billion.
Profit before tax rose by 9.6 per cent to N280.374 billion from N255.861 billion, while profit after tax up by 6.1 per cent from N230.565 billion to N244.558 billion in the period under review. Earnings per share went up to N7.78 in 2021 compared to N7.34 in 2020.
Total net loans and advances rose by 20.8 per cent to N3.356 trillion as against N2.779 trillion as at December 2020, while total deposits amounted to N6.472 trillion in 2021 from N5.340 trillion in 2020. Meanwhile, the Bank total assets for the period under review stood at N9.448 trillion, higher than N8.481 trillion achieved in 2020, an increase of 11.4 per cent.
The group has continued to make significant progress in its retail banking drive, as evidenced by remarkable growth in transaction volumes and value across its digital platforms and strong growth in customer acquisition.
The group also remained focused on increasing its retail market share, consolidating its leadership position in the corporate segment and maintaining a robust balance sheet.