PremiumTrust Bank Celebrates Milestone AGM, Promises Even Greater Success in 2024

Remarkable testament to its rapid ascent in Nigeria’s banking sector, PremiumTrust Bank recently held its first Annual General Meeting (AGM) in Lagos, reflecting on its outstanding financial performance for the 2023 financial year. The event underscored the bank’s commitment to sustained growth, profitability, and delivering exceptional value to its stakeholders.

During the AGM, the bank’s board and management reassured stakeholders of their continued focus on driving growth and maintaining financial stability. The Chairman of the Board of Directors, Dr. Perez Araka, emphasized the bank’s dedication to serving Nigeria’s diverse population, including the banked, underbanked, and unbanked segments, while consistently delivering value.

Dr. Araka highlighted the board’s strategic approach to leveraging PremiumTrust Bank’s strengths to ensure ongoing profitability and long-term success. His sentiments were echoed by the MD/CEO of PremiumTrust Bank, Mr. Emmanuel Efe Emefienim, who expressed confidence in the bank’s ability to surpass its 2023 performance and achieve even greater success in 2024.

Mr. Emefienim pointed out the bank’s commitment to continuous innovation, expanding service offerings, and enhancing 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 stated.

PremiumTrust Bank’s exceptional financial performance in 2023 was highlighted by impressive figures across key metrics, including Gross Earnings of N47.80 billion, Profit Before Tax (PBT) of N14.10 billion, Customer Deposits of N260.90 billion, and Total Loans of N181.20 billion.

The bank also achieved notable key ratios, such as a Net Interest Margin (NIM) of 82 percent, Return on Equity (ROE) of 61 percent, and an impressive Cost of Funds (CoF) of just 2 percent.

As Nigeria’s fastest-growing commercial bank, PremiumTrust Bank is committed to reshaping the financial landscape. With its stellar 2023 performance and relentless drive for innovation, the bank is well-positioned to deliver even stronger financial results in the coming year, solidifying its status as a leader in the industry.