Bank of Industry (BOI) has seen a significant increase in profit before tax, reaching N153.81 billion, a 117.69 percent rise from the previous year. This marks the highest profit in the history of the bank. The announcement was made at the 64th Annual General Meeting held in Abuja.
Despite economic challenges, BOI has shown impressive financial performance, with total assets growing by 64.6 percent to N3.91 trillion. The bank has also increased its loans and advances by 41.5 percent, supporting businesses in various sectors.
BOI has disbursed credit to 75,809 beneficiaries, totaling N496.717 billion, resulting in the creation of approximately 2,198,953 jobs. The bank’s total equity has grown by 57.7 percent to N678 billion, showcasing its financial stability and capacity for future investments.
Looking ahead, BOI plans to implement its corporate strategy for 2022–2024, focusing on supporting Nigeria’s industrial growth in line with national development plans. The bank has empowered Nigerian enterprises, especially micro and small businesses, through various intervention programs.
BOI’s commitment to strategic lending and investment in critical sectors has been key to its success. As it moves forward, the bank remains dedicated to leveraging its financial strength to support Nigeria’s industrialization and economic transformation.