its 9.7 per cent profit growth in the year to September on a fairly stronger investment income when most of its key revenue sources witnessed a retreat from figures reported a year ago.
Net investment income contributed the most to the revenue kitty, yet its part would even have been greater were it not for the run of high-interest expense in the fund management space, which ate up a far larger portion of the gross investment income. Both fees & commission income and net trading income declined compared to 2022 levels but other income, rising 74.8 per cent to N2 billion, helped soften the blow of the drop in earnings.
Pre-tax profit came to N9.7 billion from N9.1 billion, while profit for the period jumped to N8.5 billion from N7.7 billion.
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