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By Akpan David, Calabar
First Royal Microfinance Bank Limited has announced a profit of N16.458, 085 over the weekend at their Annual General Meeting in Calabar.
Acting Managing director and Chief executive Officer of the bank, Augustine Ukpabio said
they acknowledge the Central Bank of Nigeria, CBN, for their supportive and regulatory roles towards the achievement.
“We acknowledge the Central Bank of Nigeria and other regulatory agencies for their continuous support and regulatory oversight. These roles spurred our bank to the success we have recorded.
“Together we continue to to build a stronger, smarter, and more impact full First Royal Micro Finance Bank Limited”, he said.
Ukpabio disclosed that profit after tax in 2024 was #16.458, 085 million while deposit was #129 billion, total loan disbursed was #526 million, and Total Assets #1.74billion.
‘On behalf of the management team, I extend heartfelt gratitude to Board, our Board of directors for their unwavering guidance and strategic leadership.
“To our esteemed shareholders, we deeply appreciate your confidence and commitment to our shared vision’
‘My sincere appreciation also goes to our management staff for their hard work and dedication and resilience, which has been instrumental in achieving our milestone, To our customers and partners, your loyalty and Trust remains our greatest motivation.’
Also speaking, Princes Ibum O Obu Chairman, Board of directors says the Bank has approved a dividend of #0. 018k dividend and recorded a profit after tax as at December 31 2024.
According to her, this reflects the Bank’s commitment to delivering value to shareholders while maintaining adequate capital to support growth, regulatory compliance and long term sustainability.
She said they are committed to maintaining a balance dividend policy that rewards shareholders while ensuring the financial strength and operational capacity of the Bank.
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