The Infrastructure Bank Plc (TIB) on Friday announced N973 million as profit before tax for its 2014 financial year.
The Chairman of the Bank, Alhaji Lamis Dikko, stated this in his Annual Report at the bank’s Annual General Meeting at Transcorp Hotels, Calabar. .
He said that the figure showed a marginal improvement over its 2013 profit of N875 million.
He said that a strong set of results posted by TIB in 2014 fostered a trend of positive performance by the bank.
Dikko said that the performance of the economy in 2014 also determined the bank’s profit in the financial year.
“In 2014 the Nigerian economy faced several challenges some of which were heightened by the fall in oil prices. Conversely our pipelines of opportunities increased, a function of the bank’s increasing stature in the market and the significant latent demand for infrastructure assets development nationwide
He said that the recapitalisation programme had further strengthened the bank, adding that the TIB would continue a programme of raising additional capital to fund the growth plan targets.