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Performance Bolstered by Fair Value Gain

Gross Earnings for Q1:2024 advanced 330.37% YoY to NGN680.38bn, primarily bolstered by impressive non-interest income. Elsewhere, Operating Expenses increased by 77.15% YoY to NGN99.45bn following a spike in personnel expenses, communications, technological related & admin expenses and AMCON charges. Profit Before Tax (PBT) and Profit After Tax (PAT) grew by 587.48% YoY and 685.90% YoY to NGN509.35bn and NGN457.13bn respectively. Overall, Net Profit Margin increased by 30.40% to 67.19% in the period.

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