Infrastructure bank hold AGM, declares N973m PBT
The Nigerian Infrastructure Bank Plc (TIB) held its AGM today at the Transcorp Hotels in Calabar and announced a profit before tax of N973 million for the financial year 2014.
Making the disclosure, the Chairman of the bank, Alhaji Lamis Dikko, said the that the PBT was an improvement over that of 2014 and fosters a growth trend for the bank. According to him, the many challenges faced by the economy in 2014 presented business opportunities for the bank and thus “a function of the bank’s increasing stature in the market and the significant latent demand for infrastructure assets development nationwide”.
The Bank’s Managing Director, Mr Adekunle Oyinloye, said that the Bank recently established a 500 million dollars Nigeria-focused Infrastructure Fund in collaboration with overseas fund managers, namely: Gemfonds Plc of the and Sigrun Partners SL of Spain. The fund, according to him provides opportunities for local and international investors to invest in Nigeria’s growing infrastructural development.
The Managing Director assured investors and stakeholders that the banks performance for 2015 would surpass that of 2014 and that the fresh capital would be injected into the bank.
