{"id":42486,"date":"2022-05-22T17:06:29","date_gmt":"2022-05-22T17:06:29","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=42486"},"modified":"2022-05-22T17:06:35","modified_gmt":"2022-05-22T17:06:35","slug":"boi-grows-profit-by-75-declares-n7-89bn-dividend","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/boi-grows-profit-by-75-declares-n7-89bn-dividend\/","title":{"rendered":"BoI grows Profit by 75%, declares N7.89bn dividend"},"content":{"rendered":"<p>The Bank of Industry (BoI) says it recorded a 75 per cent increase in Profit Before Tax to N61.15 billion in the 2021 financial period.<\/p>\n\n\n\n<p>According to a statement from BoI, Malam Aliyu Dikko, Chairman of its Board of Directors, announced these results at its recently-concluded 62nd Annual General Meeting in Abuja.<\/p>\n\n\n\n<p>Dikko said that the bank had also declared a dividend payment of N7.89 billion for the financial year ended December 2021 to its shareholders, the Ministry of Finance Incorporated and the Central Bank of Nigeria.<\/p>\n\n\n\n<p>He said BoI\u2019s dividend payout demonstrated its capacity to withstand economic headwinds to boost the Federal Government\u2019s revenue.<\/p>\n\n\n\n<p>Also speaking, BoI\u2019s Managing Director, Mr Olukayode Pitan, said the upward trajectory in the bank\u2019s performance enabled it to attract local and foreign capital to help fulfill the obligations of its mandate.<\/p>\n\n\n\n<p>He stated that in February 2022, BoI successfully issued a 750 million Eurobond to enhance its capital base to support its customers and the real sector of the Nigerian economy.<\/p>\n\n\n\n<p>\u201cIn the year under review, the Bank disbursed a total of N213.63 billion to 30,406 Nigerian enterprises through both direct and indirect methods.<\/p>\n\n\n\n<p>\u201cThis represents a 47.3 per cent increase over disbursements in 2020, while 2021 disbursement included N2.99 billion to 22,120 farmers through the bank\u2019s Smallholder Farmers on-lending product.<\/p>\n\n\n\n<p>\u201cIt also included one billionn Naira to 4,000 micro-retailers through the Bank\u2019s MSME Distributor Finance Programme, and through these interventions, an estimated 950,640 direct and indirect jobs were created in 2021,\u201d he said.<\/p>\n\n\n\n<p>Pitan reaffirmed the bank\u2019s continued efforts toward supporting its stakeholders and achieving its mandate.<\/p>\n\n\n\n<p>\u201cOur commitment to building a resilient organisation that can respond to the needs of our customers and operating challenges is unwavering,<\/p>\n\n\n\n<p>\u201cWe strongly believe that we can achieve this with the continuous support of all our stakeholders,\u201d he said.<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-42486\" data-postid=\"42486\" class=\"themify_builder_content themify_builder_content-42486 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>The Bank of Industry (BoI) says it recorded a 75 per cent increase in Profit Before Tax to N61.15 billion in the 2021 financial period. According to a statement from BoI, Malam Aliyu Dikko, Chairman of its Board of Directors, announced these results at its recently-concluded 62nd Annual General Meeting in Abuja. Dikko said that [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":21405,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1366],"tags":[682],"class_list":["post-42486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-boi","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BoI grows Profit by 75%, declares N7.89bn dividend - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/boi-grows-profit-by-75-declares-n7-89bn-dividend\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoI grows Profit by 75%, declares N7.89bn dividend - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"The Bank of Industry (BoI) says it recorded a 75 per cent increase in Profit Before Tax to N61.15 billion in the 2021 financial period. 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