The Bank of Industry said its asset base rose from N1.71tn to N2.38tn in 2022 financial year – The Chairman, Board of Directors, BOI, Mallam Aliyu Dikko. He added that this was on top of a rise in profit before tax, which increased by 15.6% to N71.98 billion in 2022 from N62.28 billion in 2021.
The bank also announced a N7.82 billion dividend payout to its shareholders. The chairman claims that despite the worldwide economic downturn, the bank was able to raise nearly $2 billion through the successful completion of three capital raising transactions throughout the year, which allowed the bank’s assets to rise.
The Managing Director/Chief Executive Officer of BOI, Mr. Olukayode Pitan, also spoke at the gathering. He claimed that the bank’s performance and results had been crucial in luring both domestic and foreign capital, which had allowed BOI to efficiently carry out its required tasks.
In the reviewed year, he said, the bank disbursed N210.7bn to 418,436 beneficiaries which resulted in the creation of an estimated 1,255,974 direct and indirect jobs. The statement added, “This is a 32.1 percent uptick from the 950,640 direct and indirect jobs created in 2021 through the Bank’s interventions.