BOI Total Assets Rise To N3.3 Trillion

The Bank of Industry (BOI) has revealed that its totals assets has risen to N3.3 trillion as of June 30, 2023.

This indicates a year-on-year growth level of 67 per cent on the N1.97 trillion asset level as of June 2022.

According to a statement, the profit before tax after impairments has grown by  177 per cent year-on-year from N37.5 billion in June 2022 to N104 billion in June 2023.

This is due to the prudent management of the bank’s assets and the full hedge of the foreign currency assets.

Speaking on the result, Olukayode Pitan, the Managing Director/Chief Executive Officer of BOI said, “In 2023, the BOI continued its impressive growth in major financial indices on a year-on-year basis, thus consolidating its position as Nigeria’s largest and most impactful Development Finance Institution.”