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Custodian Investment grows Q3 pre-tax profit to N7.3bn

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Custodian Investment Plc, a leading non-bank financial institution quoted on the Nigerian Stock Exchange (NSE) with investments in life and non-life insurance, pension fund administration, trusteeship and property holding businesses, has announced an impressive result for the nine months period ended September 30, 2020.

Despite the challenging operating environment, the Group’s profit before tax rose to N7.3billion from N7billion achieved in the comparable period of 2019 and profit after tax rose more than 10percent to N6 billion Year-on-Year (YoY). Notably, the shareholders’ funds rose to N47billion (748 kobo/share) from N44.7 billion (743 kobo/share) at December 31, 2019 after the payment of gross dividend of N2.65 billion (45 kobo/share) to its esteemed shareholders during the period.

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Commenting on the result, the Group Managing Director, Wole Oshin, attributed the impressive result to the resilience of the Group, the diversity of its product offerings, commitment of its staff and the unwavering support of its Board of Directors.

He further recognized and appreciated the steadfastness of its clients, agents, brokers and all other stakeholders in the insurance, pension and investment value-chain to the Custodian Group.