The Bank of Industry says its key capital-raising transactions from the international financial market, which fueled its financial performance in 2022, have been recognised with local and international awards.The bank, in a statement, said its total assets had grown by 248 per cent between 2016 and 2022, reaching N1.71tn by the end of 2021 and closing at N2.38tn as of December 2022.

For these, the bank said it was awarded the Best Financial Institution Syndicated Loan in EMEA (Bank of Industry’s €1bn Loan) and the Best Financial Institution Bond in Africa (Bank of Industry’s €700m debut 144a/Regs Senior Issuance, later increased to €750m) at the EMEA Finance Achievement Awards for 2022 in June 2023.

According to the statement, the bank also won the Best Development Bank of the Year-Africa and the Best Commitment to ESG Principles-Nigeria at the International Banker, 2023 Banking Awards held in London, United Kingdom in May.

The Managing Director of the bank, Kayode Pitan, was quoted as saying, “The awards and recognitions, 20 of them in the last six years, do not only show a demonstration of commitment and innovativeness that has improved the bank’s fortunes but also serve as positive reinforcement for more work.”