Group Plc announced impressive first-quarter 2024 financial results, with profit before tax rising 192.6% Year-on-Year to N31.3 billion compared to N10.7 billion in the same period in 2023. All of the Group's business segments demonstrated significant growth, with Investment Banking leading at 228.1%, Consumer Finance at 165.4%, Banking Group at 157.2%, and Investment Management at 74.3%.
Group recorded a substantial 104.8% growth in gross revenue during the three months , rising to N179.1 billion from N87.4 billion for the same period the prior year. This growth was driven by an 89.9% growth in interest income and a 150.9% growth in non-interest income. Additionally, customer confidence remained strong, with deposits rising by 63.2% year-over-year, from N2.0 trillion to N3.3 trillion at the end of March 2024.
Source: News Formal (newsformal.com)
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