• Tuesday, July 16, 2024
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BusinessDay

NOVA Merchant Bank earnings rise by 37%

50 paediatric patients awaiting surgery get Merchant Bank’s aid

NOVA Merchant Bank Limited said its gross earnings rose by 37.01 per cent year on year to N23.34bn as of the end of 2022 financial period from N17.03bn in 2021.

The bank disclosed this in a statement on its audited full-year 2022 financial results.

According to the statement, the bank’s profit before tax rose by 107.9 percent to N3.50bn, while the Group’s figure rose by 98.2 per cent to N.34bn.

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The bank’s profit after tax rose by 102.9 percent to N3.21bn in 2022 from N1.58bn in 2021, while the Group’s figure rose by 93.7 percent to N3.11bn from N1.61bn in 2021.

According to the statement, the balance sheet showed total assets rose by 14.6 per cent to N279.9bn in 2022 from N244.2bn as of 2021.