Declares Another Record Dividend of ₦12.76k; Re-affirming Unrivalled Capacity to Creating Value
Revenue
– Interest income increased significantly by 23.2% to ₦1.653tr (31 December 2024: N1,341.8bn), principally due to growth in the earning assets (EA) volumes of Banking Entities, and strong AUM and TPV growth recorded by the Non-Banking Business Verticals- GTFM, GTPFA and Habari.
– Net interest margin (NIM) was up by 140bps closing at 12.3% (31 December 2024: 10.9%) as a result of increase in yield to 14.6% in FY-2025YTD from 11.7% in FY-2024YTD.
Dividend: The Group declared full year dividend payment of N12.76k
Earnings
– Sustained profit before tax closing at ₦1.231tr (31 December 2024: ₦1.266tr) in-spite of non-recurrence of N517.5bn fair value gains recognized in FY-2024.
In specifics, the Group booked N81.8bn fair value loss on the Financial Instrument in the current period as against N517.5bn fair value gain posted in prior corresponding period as Naira appreciated 7% against the USD.
This means the Group was able to generate earnings from core business to offset the non recurring income of N517.5bn.
Balance Sheet growth came in very strong with robust liquidity and capital positions.
– Total assets of ₦17.761trn (31 December 2024: N14.796trn) up 20.0%.
– Net loans and advances of ₦3.132trn (31 December 2024: N2.786trn) up 12.4%.
– Deposit liabilities of ₦12.874trn (31 December 2024: N10.401trn) up 23.8%.
Credit Quality
– Ratio of IFRS 9 Stage 3 loans to Total Loans closed at 3.4% (31 December 2024: 3.5%) at Bank level while at Group, it closed at 5.0% (31 December 2024: 5.2%).
– Cost of Risk dropped to 2.2% (31 December 2024: 4.9%) on the back of improved Asset quality as the Group continued to benefit from its derisked Balance sheet.
Continued focus on efficiency.
– Cost to income (CIR) at Group level closed at 27.9% benefitting from strong net-Core earnings growth of 20.6%
Profit after tax dipped by 14.9% to ₦865.7bn in FY-2025YTD from N1,017.8bn FY-2024YTD due to the impact of recent fiscal policy adjustments to the taxation of investment securities, notably withholding tax on short-term instruments.
Earnings per share (EPS) closed at 2,543kobo relative to 3,544kobo per share as of 31 December 2024 due to increase in the number of shares on the back successful capital raising in FY-2024 and FY-2025.
