Shareholders of tier one lender, Constancy {Bank}, have applauded the board and administration of the {bank} for delivering an impressive efficiency in FY 2024.
Talking on the {bank}’s thirty seventh Annual Common Assembly (AGM) held just about on Tuesday, April 29, 2025, the Nationwide Chairman of The Progressive Shareholders Affiliation, Chief Boniface Okezie, praised the {bank}, saying, “It is a superlative efficiency and we the shareholders are grateful to administration and employees for giving us a {bank} to be happy with. It is usually essential to notice that the {bank} has earned its spot as one of many high 3 dividend-paying {financial} establishments in Nigeria.
On his personal half, the Chairman, Zonal Shareholders Committee, Sir Tunji Okelana, recognised the {bank}’s distinctive management, which has seen the {bank} develop to unprecedented heights
“The achievements of the present MD have surpassed these of everybody who held that workplace earlier than her. As well as, the employees working together with her are property. They’re really ‘Constancy, they hold their phrase’. With none doubt, I’m very pleased with the {bank}”, he declared.
In his remarks on the assembly, the Chairman, Board of Administrators, Constancy {Bank} Plc, Mr. Mustafa Chike-Obi, stated, “Regardless of the worldwide {economic} headwinds, we demonstrated distinctive resilience, attaining record-breaking progress throughout all efficiency indicators, most notably our Revenue Earlier than Tax (PBT)”.
He additional added that the {bank}’s stakeholders have been all happy with the success of the primary stage of the capital-raise train. “The oversubscription of 237.9% within the Public Supply and 137.7% within the Rights Challenge is a testomony to the power of our model and the arrogance the investing public has in us. Geared up with this vote of belief, we are going to proceed swiftly and conclude the second tier of our capital-raise train”.
Managing Director/Chief Government Officer, Constancy {Bank} Plc, Dr Nneka Onyeali-Ikpe in her assertion to shareholders, shared the strategic outlook to construct on the {bank}’s FY 2024 success stating that, “Our priorities in 2025 {financial} yr are to finish the following part of our capital elevate and additional strengthen our asset base, improve operational effectivity and digital innovation and discover strategic regional enlargement into choose African markets.”
In response to the {bank}’s 2024 annual report obtainable on its web site and distributed to shareholders, the {bank} recorded a formidable 210% progress in Revenue Earlier than Tax to N385.2 billion. Gross Earnings elevated by 87.7% to N1,043.4bn, pushed by 106.9% progress in curiosity and related earnings to N950.6bn. The {bank} additionally witnessed a formidable 47.9% progress in deposits from N4.0trn in 2023FY to N5.9trn, whereas Advances grew from N3.1tn in 2023FY to N4.4tn in 2024FY.
A number of resolutions have been thought-about and handed on the AGM, together with the declaration of a closing dividend of N1.25 kobo, the election of non-executive administrators -Alhaji Abdullahi Sarki Mohammed and Ms. Obiaku Augusta Okam; the election of Mr Sufiyanu Ibrahim Garba as govt director; and the re-election of non-executive administrators -Mr Mustapha Chike-Obi and Engr. Henry Obih, amongst others.
Ranked among the many greatest banks in Nigeria, Constancy {Bank} Plc is a full-fledged Industrial Deposit Cash {Bank} serving over 9.1 million clients by digital banking channels, its 255 enterprise places of work in Nigeria and United Kingdom subsidiary, FidBank UK Restricted.
The {Bank} is the recipient of a number of native and worldwide Awards, together with the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and {Financial} Establishments (BAFI) Awards; the 2024 Most Revolutionary Cellular Banking Software award for its Constancy Cellular App by International Enterprise Outlook, and the 2024 Most Revolutionary Funding Banking Service Supplier award by International Manufacturers Journal. Moreover, the {Bank} was acknowledged because the Greatest {Bank} for SMEs in Nigeria by the Euromoney Awards for Excellence and because the Export Financing {Bank} of the Yr by the BusinessDay Banks and {Financial} Establishments (BAFI) Awards.