PremiumTrust Bank achieved gross earnings of N47.80 billion and a profit before tax of N14.10 billion in 2023, as announced during its Annual General Meeting (AGM) in Lagos.
The bank also recorded customer deposits of N260.90 billion and total loans of N181.20 billion. Key financial ratios included a net interest margin (NIM) of 82%, a return on equity (ROE) of 61%, and a cost of funds (CoF) of 2%, reflecting the bank’s strong financial health and operational efficiency.
Chairman Dr. Perez Araka highlighted the bank’s commitment to delivering consistent growth and exceptional value to its stakeholders.
He reassured shareholders of the bank’s continued profitability and focus on serving all segments of the population, including the banked, underbanked, and unbanked.
The bank’s leadership emphasized their dedication to leveraging the institution’s strengths to ensure long-term success and financial stability.
Managing Director Emmanuel Emefienim expressed confidence in the bank’s ability to surpass its 2023 financial performance in the coming year.
He highlighted the bank’s focus on innovation, expanding service offerings, and enhancing customer experiences as key drivers for future growth.
Emefienim affirmed that PremiumTrust Bank is well-positioned to continue reshaping the financial landscape and delivering even stronger results in 2024.