Credite Capital Finance and Investment Ltd., has declared a N70 million dividend payout to shareholders, as gross earnings increased by 37.3 percent to N2.806 billion, while interest income rose by 28.8 percent to N480.3 million.
The N70 million dividend payout represents a 71 percent increase over the previous payout, translating to 23 kobo per share, compared with 17 kobo declared in the previous financial year.
“We are declaring a N70 million dividend payout to our shareholders, representing 23 kobo per share,” Segun Ogunleye, Managing Director, Credite Capital, said during the firm’s 9th Annual General Meeting (AGM) held in Lagos.
Ogunleye also disclosed the firm’s plan to increase its capital base to N1 billion ahead of an anticipatory directive from the regulator. According to him, the decision was influenced by recent recapitalisation requirements for microfinance and commercial banks.
“We see what is happening in the industry. The first was microfinance banks, and now it has come to commercial banks. It will definitely come to financial companies like us,” Ogunleye said.
Ogunleye said the company remained committed to delivering strong financial results despite inflation, rising operating costs and other economic challenges. “What we have done is understand our market and explore our target to achieve results.”
Tokunboh Abudu, chairman, Credite Capital Finance and Investment Ltd., said the company’s 2025 performance demonstrated resilience in spite of prevailing economic and operational challenges.
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He disclosed that the firm’s net interest income increased by 4.4 percent to N489.7 million, while non-interest income grew by 74 percent to N281.9 million, reflecting increased lending activities and revenue generation. “This was achieved despite higher borrowing costs, supported by increased transaction volumes, payment activities and deeper customer engagement.”
According to Abudu, shareholders’ funds increased by 13.4 percent to N608 million, supported by retained earnings, capital injections and internal capital generation. Similarly, profit before tax rose by 9.8 percent to N158 million, although higher energy and operating costs moderated earnings growth.
He added that total assets increased by 20.4 percent to N8.193 billion, compared with N6.807 billion in the year under review. Customer deposits also grew by 16 percent to N6.797 billion, from N5.686 billion, strengthening the company’s liquidity and funding position.
Seyi John Salau is a BusinessDay Correspondent with interest in development journalism, which tells stories that connect the people, brands, and the government. SeyiJohn is also a media professional with BSc, Mass Communition (ACU); Masters of School Media (MSM, Ibadan) & MSc, Mass Communication (Caleb).
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