The Chartered Institute of Bankers of Nigeria (CIBN) said its revenue rose to N2.06 billion in the year ended 2022.

Dr Ken Opara, President/Chairman of CIBN, said this at the 2023 Annual General Meeting

(AGM) of the institute held on Saturday in Lagos.

Opara said that the figure represented 16.9 per cent when compared with N1.76 billion recorded in the corresponding period of 2021.

He said despite the macroeconomic headwinds in 2022, the institute’s net operating surplus also grew from N799.17 million to N838.08 million.

Similarly, Opara said total assets grew from N7.31 billion to N7.82 billion, attributing the improved performance recorded to the efficient utilisation of resources and deliberate focus on revenue generation drive.

Mrs Mojisola Bakare-Asieru, National Treasurer of CIBN, while presenting the financial report for 2022, recognised the dexterity of the management of the institute in achieving 93 per cent of the year 2022 budget of N2.216 billion.

According to her, CIBN commits to posting a better performance in the current year.

“The Institute recorded a net operating surplus before impairment and amortisation of N837.94 million compared to the 2021 result of N799.17 million.

“This growth in surplus of 4.86 per cent was as a result of efficient utilisation of resources and was above the 2022 budget of N711.02 million.

“The percentage growth would have been more but for a high rate of inflation during the year under review.

“The recurrent expenditure of the institute increased to N1.22 billion as against N966.57 million recorded in the preceding year which translated into an increase of 26.89 per cent.