National Economy
Friday, September 19, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Business

BoI Grows Total Assets 67% To N3.3trn In H1

by Olushola Bello
2 years ago
in Business, News
Reading Time: 2 mins read
BoI
Share on FacebookShare on TwitterShare on Telegram

The total assets of the Bank of Industry (BOI) has hit N3.3 trillion as at June 30 2023, which represents a year-on-year growth of 67 per cent compared to the N1.97 trillion asset level it was at June 2022.

Profit- before- tax after impairments (PBT) grew by an impressive 177 per cent year on year from N37.5billion in June 2022 to N104 billion in June 2023 (H1). This, the bank said, is due to the prudent management of the  bank’s assets and the full hedge of the foreign currency assets.

The bank has historically been able to maintain a non-performing loan (NPL) rate below the regulatory threshold of five per cent, even as the bank’s NPL as at June 2023 was 1.88 per cent down from 3.6 per cent as at December 2022.

BoI has also grown its equity position by 57 per cent since June 2022 – from N403.6 billion to N634 billion in June 2023 (H1) even as BoI’s equity position exceeds the regulatory requirement of N10 billion for retail DFIs.

You May Like

FG Sets Dec. 31 Deadline For Mining Firms On Community Development Agreements

NGX: Market Rebounds As Capitalisation Crosses N90trn

BoI has contributed to the national budget by paying dividends of approximately N42.2 billion and taxes amounting to N64.2 billion from 2017 to date.

The Bank of Industry is Nigeria’s oldest and most successful DFI. The bank is a duly registered company under the Companies and Allied Matters Act. 2020 and licensed by the Central Bank of Nigeria (CBN). The bank is professionally run with strong corporate governance. It is audited by the KPMG, CBN and rated by local and international rating agencies (Fitch, Moody’s and Agusto & Co.) 

It focused heavily on delivering its mandate of supporting industry and MSMEs to grow and thrive by disbursing over N1.4 trillion over the last five years to over 4.4 million customers including MSMEs, most of whom are women owned, thereby, creating and saving 10.005 million jobs.

Under the leadership of Mr Olukayode Pitan as the MD/CEO), from 2017 to date, BoI has raised over $5 billion from the international financial markets to support its mandate of growing Nigerian industries, MSMEs, Women entrepreneurs and youths.

 

 

Tags: BOI
ShareTweetShare
Previous Post

Rate Convergence: ABCON Urges CBN To Grant BDCs Digital Autonomy

Next Post

Overhaul Downstream Oil Sector, Experts Tell Petroleum Minister

ANOTHER GOOD READ

Federal Gov’t Approves ₦142bn For Bus Terminals In 6 Geopolitical Zones
Business

FG Sets Dec. 31 Deadline For Mining Firms On Community Development Agreements

2 hours ago
NGX Records N22.9bn Turnover
News

NGX: Market Rebounds As Capitalisation Crosses N90trn

3 hours ago
Lagos Customs Command Adopts Digitisation To Ensure Real-time Transaction
News

Customs Tasks Promoted Officers On Revenue, Compliance

3 hours ago
Regulator Bars Insurtech From Insuring Oil & Gas Sector, Others
Business

NAICOM Commends Brokers On Compliance, Professionalism

3 hours ago
CBN Cautions Public On Impersonation , Fraud Risks
Business

CBN Reiterates Commitment To Inclusive Growth, Price Stability At Kaduna Fair

5 hours ago
Pension Operators Sensitise Young Professionals On Cancer Awareness
Business

FG Inaugurates Pension Council

11 hours ago
Next Post
Bola_Tinubu

Overhaul Downstream Oil Sector, Experts Tell Petroleum Minister

Most Recent

Federal Gov’t Approves ₦142bn For Bus Terminals In 6 Geopolitical Zones

FG Sets Dec. 31 Deadline For Mining Firms On Community Development Agreements

September 19, 2025
NGX Records N22.9bn Turnover

NGX: Market Rebounds As Capitalisation Crosses N90trn

September 19, 2025
Lagos Customs Command Adopts Digitisation To Ensure Real-time Transaction

Customs Tasks Promoted Officers On Revenue, Compliance

September 19, 2025
Regulator Bars Insurtech From Insuring Oil & Gas Sector, Others

NAICOM Commends Brokers On Compliance, Professionalism

September 18, 2025
CBN Cautions Public On Impersonation , Fraud Risks

CBN Reiterates Commitment To Inclusive Growth, Price Stability At Kaduna Fair

September 18, 2025
Pension Operators Sensitise Young Professionals On Cancer Awareness

FG Inaugurates Pension Council

September 18, 2025
Supreme Court Affirms Governor Aiyedatiwa’s Victory, Ends Prolonged Legal Battles

Supreme Court Affirms Governor Aiyedatiwa’s Victory, Ends Prolonged Legal Battles

September 18, 2025
Nigeria’s Energy Transition Gains Boost As Lighting Expo Opens In Lagos

Nigeria’s Energy Transition Gains Boost As Lighting Expo Opens In Lagos

September 18, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy