PremiumTrust Bank Holds First AGM, Reassures Stakeholders of Strong Performance, Profitability

In a testament to its rapid growth and strong financial performance for the 2023 financial year, Nigeria’s fastest-growing commercial Bank, PremiumTrust Bank recently held its inaugural Annual General Meeting (AGM) in Lagos.  

During the event, which marked a significant milestone for the bank, stakeholders were confidently reassured by the board and management of its robust financial performance and sustained profitability, highlighting its commitment to driving growth and delivering exceptional value.  

Speaking at the event, the Chairman, Board of Directors of PremiumTrust Bank, Dr. Perez Araka, said the bank remained committed to delivering consistent growth, financial stability, and exceptional value while serving the banked, underbanked, and unbanked segments of the Nigerian population.

Araka also revealed that the board, in line with its oversight responsibilities, was focused on leveraging the Bank’s strengths to ensure continued profitability and long-term success.  

These views were also affirmed by the MD/ CEO of PremiumTrust Bank, Mr. Emmanuel Efe Emefienim who expressed confidence in the Bank’s capability to surpass its 2023 financial performance and go on to achieve even greater success in 2024.  

According to him, the 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,” he said.   PremiumTrust Bank’s outstanding financial performance in 2023 is reflected in its impressive results across key metrics. The bank achieved total 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.

“This saw the bank record impressive key ratios such as Net Interest Margin (NIM) of 82 per cent, Return on Equity (ROE) of 61 per cent, and impressive Cost of Funds (CoF) of 2 per cent.   As Nigeria’s fastest-growing bank, PremiumTrust Bank is committed to reshaping the financial landscape. With an impressive financial performance in 2023 and a relentless drive for innovation and speed of execution, the bank is poised to deliver even stronger financial results in the coming year, further solidifying its position as a leader in the industry,” he said.