The board and management of PremiumTrust Bank have reaffirmed the bank’s robust performance and sustained profitability during its inaugural annual general meeting held recently in Lagos.
At the meeting, the bank’s leadership highlighted its solid financial achievements and reiterated their commitment to driving growth and delivering exceptional value to stakeholders.
Dr. Perez Araka, Chairman of the Board of Directors, emphasized the bank’s dedication to consistent growth, financial stability, and long-term success. He noted that the board, in line with its oversight responsibilities, remains focused on leveraging the bank’s strengths to ensure continued profitability.
Managing Director and Chief Executive Officer, Mr. Emmanuel Emefienim, expressed confidence in the bank’s ability to surpass its 2023 financial performance. He assured stakeholders that PremiumTrust Bank would continue to innovate, expand its service offerings, and enhance 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,” Emefienim stated.
By the end of 2023, PremiumTrust Bank reported N47.80 billion in gross earnings, N14.10 billion in profit before tax, N260.90 billion in customer deposits, and N181.20 billion in loans and advances. The bank’s net interest margin stood at 82 percent, with a return on equity at 61 percent and a cost of funds at two percent.
