By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Times ReportersTimes Reporters
  • Home
  • News
  • Politics
  • Business
    • Economy
  • Sports
  • Entertainment
  • About Us
  • Bookmarks
Search
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Reading: BOI Assets Hits N3.3Trillion In Half Year 2023
Share
Sign In
Notification Show More
Latest News
Presidency Denies Allegations That President Tinubu Supported June 12, 1993 Election Annulment
News Politics
Tinubu Tasks Media on National Unity, Ethical Journalism as NUJ Celebrates 70 Years
Media News Politics
Mining Marshals Under Fire as Community Points to Their Role in Illegal Mining
Business Crime Defence Environment Insecurity Metro Mining News
Firm drags Zenith Bank to UK parliament, ICC over $64m S/Court contract judgment
Business Judiciary Legal/Courts Metro News
NCAA Promoting Staff Wellbeing, Bonding Through Sporting Activities– Director
Aviation News Sports
Aa
Times ReportersTimes Reporters
Aa
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Search
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Have an existing account? Sign In
Follow US
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Times Reporters > Business > BOI Assets Hits N3.3Trillion In Half Year 2023
BusinessNews

BOI Assets Hits N3.3Trillion In Half Year 2023

Publisher
By Publisher Published September 13, 2023
Share
2 Min Read
SHARE

 

Bank of Industry (BOI) says it has achieved N3.3 trillion in total assets as of June 30 2023.

According to the bank, this represents a year-on-year growth level of 67 per cent on N1.97 trillion asset level as at June 2022

- Advertisement -
Ad image

Profit Before Tax (PBT) after impairments has grown by an impressive 177% year on year from N37.5bn in June 2022 to N104bn in June 2023 (H1). This is due to the prudent management of the bank’s assets and the full hedge of the foreign currency assets.

“The bank has historically been able to maintain a non-performing loan (NPL) rate below the regulatory threshold of 5%. The bank’s NPL as of June 2023 was 1.88% down from 3.6% as at December 2022.

“BOI has also grown its equity position by 57% since June 2022 – from N403.6bn to N634bn in June 2023 (H1). BOI’s equity position exceeds the regulatory requirement of N10bn for retail DFIs.

“BOI has contributed to the national budget by paying dividends of approximately N42.2bn and taxes amounting to N64.2bn from 2017 to date.

“The bank has focused heavily on delivering its mandate of supporting industry and MSMEs to grow and thrive by disbursing over N1.4 trillion over the last 5 years to over 4.4million customers including MSMEs (Most of whom are women owned) thereby creating and saving 10.5million jobs,” BOI Managing Director/CEO, Mr Olukayode Pitan said.

Mr Pitan added: “In 2023, the BOI continued its impressive growth in major financial indices on a year-on-year basis, thus consolidating its position as Nigeria’s largest and most impactful Development Finance Institution”.

Like this:

Like Loading...

Related

You Might Also Like

Presidency Denies Allegations That President Tinubu Supported June 12, 1993 Election Annulment

Tinubu Tasks Media on National Unity, Ethical Journalism as NUJ Celebrates 70 Years

Mining Marshals Under Fire as Community Points to Their Role in Illegal Mining

Firm drags Zenith Bank to UK parliament, ICC over $64m S/Court contract judgment

NCAA Promoting Staff Wellbeing, Bonding Through Sporting Activities– Director

TAGGED: Assets, Bank of Industry, BOI

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Publisher September 13, 2023
Share this Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Telegram Email Copy Link Print
Share
Previous Article Nigerian Aviation Industry Requires 160 Additional Aircrafts By 2042
Next Article NCC Cautions Ebonyi Traders Against Activities Of Cyber Criminals
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe
Telegram Follow

– Member of –

- Advertisement -
Ad imageAd image

Latest News

Presidency Denies Allegations That President Tinubu Supported June 12, 1993 Election Annulment
News Politics June 22, 2025
Tinubu Tasks Media on National Unity, Ethical Journalism as NUJ Celebrates 70 Years
Media News Politics June 22, 2025
Mining Marshals Under Fire as Community Points to Their Role in Illegal Mining
Business Crime Defence Environment Insecurity Metro Mining News June 22, 2025
Firm drags Zenith Bank to UK parliament, ICC over $64m S/Court contract judgment
Business Judiciary Legal/Courts Metro News June 22, 2025

You Might also Like

NewsPolitics

Presidency Denies Allegations That President Tinubu Supported June 12, 1993 Election Annulment

June 22, 2025
MediaNewsPolitics

Tinubu Tasks Media on National Unity, Ethical Journalism as NUJ Celebrates 70 Years

June 22, 2025
BusinessCrimeDefenceEnvironmentInsecurityMetroMiningNews

Mining Marshals Under Fire as Community Points to Their Role in Illegal Mining

June 22, 2025
BusinessJudiciaryLegal/CourtsMetroNews

Firm drags Zenith Bank to UK parliament, ICC over $64m S/Court contract judgment

June 22, 2025
Times ReportersTimes Reporters
Follow US

© 2024 Times Reporters | Deigned by AuspiceWeb Graphics. All Rights Reserved.

  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
Join Us!

Subscribe to our newsletter and never miss our latest news!

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?
%d