Constancy {Bank} soars with spectacular Q1 2025 efficiency, Pre-tax revenue jumps 167.79%
Constancy {Bank} Plc has reported a surge in pre-tax revenue, reaching N107.77 billion for Q1 2025, a 167.79% year-on-year (YoY) progress.
This efficiency alerts a robust begin to the 12 months, pushed by strategic progress in its core enterprise and efficient administration of bills.
Based on the unaudited {financial} assertion, gross earnings grew by 64.21% to N315.421 billion.
Key highlights (2024 vs. 2023)
- Curiosity Revenue: N281.468 billion +65.44% YoY
- Curiosity Expense; N90.653 billion +28.58% YoY
- Internet curiosity revenue; N190.815 billion +91.52% YoY
- Credit score loss expense: N6.281 billion; -49.17% YoY
- Internet curiosity revenue after credit score loss expense: N184.530 billion +111.45% YoY
- Charges and fee revenue: N23.822 billion +30.10% YoY.
- Charges and fee expense: N2.666 billion +37.56% YoY
- Revenue for the interval N91.101 billion +189.75% YoY
- Earnings per share N1.81; +84.69% YoY
- Loans and advances to prospects N4.605 trillion +4.96%.
- Money and Money equivalents N1.619 trillion; +128.90%
- Whole Property N10.452 trillion +18.48%.
- Clients’ deposits N6.599 trillion +11.15%.
- Shareholders’ funds: N933.139 billion; +3.39YoY
Progress in core enterprise
Constancy {Bank}’s earnings had been largely pushed by greater curiosity revenue, which accounted for 89% of gross earnings.
The {bank} earned considerably extra from loans and advances to prospects, with curiosity revenue from loans contributing 75% of the entire curiosity revenue.
Funding in securities additionally performed a job, including 18.31% to curiosity revenue.
Whereas curiosity bills rose as a result of greater deposit charges, they consumed simply 32% of the curiosity revenue in Q1 2025, a big enchancment in comparison with 41.14% in Q1 2024.
This allowed Constancy {Bank} to retain a bigger share of earnings, leading to stronger profitability.
Improved credit score high quality
One other standout function of the outcomes was the discount in credit score loss bills, which dropped 49.17% to N6.28 billion from N12.37 billion in Q1 2024.
This means that the {bank}’s mortgage portfolio is performing higher, with fewer unhealthy loans and enhancing credit score high quality.
Non-lending revenue & charge progress
Past lending, Constancy {Bank} additionally noticed progress in its non-interest revenue, notably from charges and commissions, which elevated by 30.1% YoY to N23.82 billion.
Regardless of a decline in account upkeep charges, the {bank} noticed a 57% enhance in fee from vacationers cheques and overseas payments, and a 23.38% rise in letters of credit score commissions.
Steadiness Sheet
Constancy {Bank}’s stability sheet exhibits stable progress. Buyer deposits rose by 11.15%, reflecting robust buyer confidence, whereas the {bank} attracted N661.95 billion in new deposits.
This inflow of funds supported the expansion of complete property by 18.48% to N10.45 trillion and an enormous bounce in money reserves by 128.90%, reaching N1.62 trillion.
Inventory efficiency
Constancy started the 12 months with a share value of N17.50 and has since gained 14%, rating it forty eighth on the NGX by way of year-to-date efficiency.
