Commenting on the financial performance, the bank's Chief Executive Officer,
He said the bank was also ranked 'top 3 banks in retail' by Nigerian consumers in a
According to the banker, the bank recorded an increase in gross earnings, driven majorly by growth in fees and commissions by 24.3 percent, despite a steady loan base - as it continues to diversify into key sectors of focus - and a decline in trading income.
HOW OVER 5000 NIGERIA MEN HAVE PERMANENTLY OVERCOME TERRIBLE BEDROOM PERFORMANCE DUE TO THIS RECENT DISCOVERY BY MEDICAL CONSULTANTS
In 2019, the bank delivered more than 200 percent increase in loans to its retail and consumer segment with its Loan-to-Deposit Ratio (LDR) above the regulatory limit all year round.
This is even as he disclosed that the bank's digital lending product continued to set the trend with more than N45 billion disbursed to more than 50,000 customers while interest expense declined by 10.9 percent driven by a 19.4 percent year-on-year increase in low-cost deposits as the bank continues to grow its Retail and Consumer base, resulting in a 110 bps drop in the cost of funds and consequently, a 130 bps increase in net interest margin.
© Pakistan Press International, source