PremiumTrust Bank, a Nigerian commercial bank held its first inaugural Annual General Meeting (AGM) in Lagos to reassure stakeholders of its commitment to driving growth and delivering value.
The bank disclosed that its financial performance in 2023 is reflected in its results across key metrics with total gross earnings amounting to N47.80 billion, Profit before tax (PBT) of N14.10 billion, Customer deposits of N260.90 billion and total loans of N181.20 billion.
According to the bank, this saw key ratios such as Net Interest Margin (NIM) at 82 percent, Return on Equity (ROE) at 61 percent, and impressive Cost of Funds (CoF) at 2 percent.
Speaking at the event, Perez Araka, the Chairman, Board of Directors of PremiumTrust Bank, said the bank remained committed to delivering consistent growth, financial stability, and exceptional value while serving the banked, underbanked, and unbanked segments of the Nigerian population.
Araka also revealed that the Board, in line with its oversight responsibilities, was focused on leveraging the Bank’s strengths to ensure continued profitability and long-term success.
These views were also affirmed by the MD/ CEO of PremiumTrust Bank, Emmanuel Efe Emefienim, CON, FCIB who expressed confidence in the Bank’s capability to surpass its 2023 financial performance and go on to achieve even greater success in 2024.
According to him, the bank would continue to innovate, expand its service offerings, and enhance customer experiences to drive significant growth. “The numbers are already trending in the right direction, and when we gather here next year, the results will surpass what we recorded this year,” he said.
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