The board and management of commercial Bank, PremiumTrust Bank, have reassured stakeholders of the bank’s strong performance and profitability at its inaugural annual general meeting.

At the meeting held recently in Lagos, the managers of the bank highlighted the robust financial performance and sustained profitability and committed to driving growth and delivering exceptional value.

The Chairman of the Board of Directors of PremiumTrust Bank, Dr Perez Araka, said the bank remained committed to delivering consistent growth, financial stability, and exceptional value.

Araka 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.

The Managing Director/ Chief Executive Officer of PremiumTrust Bank, Mr Emmanuel Emefienim, expressed confidence in the bank’s capability to surpass its 2023 financial performance.

He said 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.

At the end of 2023, the bank achieved N47.80bn gross earnings, N14.10bn profit before tax, N260.90bn customer deposits and N181.20bn loans and advances.

Its net interest margin stood at 82 per cent, return on equity at 61 per cent, and cost of funds at two per cent.