• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, July 3, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

DBN Records N47.6bn Earnings, N29.5bn PBT For 2022

by Mark Itsibor
2 years ago
in Business
dbn
Share on WhatsAppShare on FacebookShare on XTelegram

 

Advertisement

Development Bank of Nigeria (DBN) has rendered its 2022 financial year ended report which shows that it recorded an impressive operational and financial performance despite the challenges within the operating environment.

According to the annual integrated and statutory report 2022 of the bank that was released yesterday, by the end of the 2022 financial year, the bank achieved earnings of N47.6 billion and profit before tax (PBT) of N29.5 billion.

Its cost to income ratio stood at 15.9 per cent.

Managing director/CEO of the bank, Dr. Tony Okpanachi said the low cost-to-income result emphasised the impact of the cost-saving measures implemented by the bank during the course of the financial year. He made the remarks at the 6th annual general meeting of the bank in Abuja yesterday.

RELATED

JUST-IN: NCAA Suspends All 737 Aircraft In Max Air Fleet

NCAA Names Max Air ‘Most Unresponsive Domestic Airline’ To Passenger Complaints

4 hours ago
Savannah Energy Empowers 100 Students

Savannah Energy Empowers 100 Students

10 hours ago

Meanwhile, the directors of DBN approved a dividend payment of N3,418,435,000 to its shareholders which represents 25 percent of retained earnings (Profit After Tax and after statutory reserves transfers) in the year ended 31 December 2022 (31 December 2021: Nil).

The basis of the approved dividend is N34.18 per share. Shareholders had approved dividend freeze for five years from 2021 to enable the bank build a capital base.

According to Dr Okpanachi, by the end of December 2022, the Development Bank of Nigeria had disbursed more than N631 billion to slightly over 313,000 MSMEs across the country, which grew from N482 billion to more than 208,000 MSMEs at the end of the previous year.

That implies a 31 per cent growth in financing support and 50 percent growth in MSMEs impacted. Of the total MSME beneficiaries of DBN funds over the 5-year period, 67 percent were women and 27 percent were young people, with well more than 250,000 jobs already created.

Within its first five years of operation, the bank has grown from being a DFI merely striving to navigate the waters of wholesale development finance to becoming a successful case reference for several African Development Finance Institutions (DFIs) and governments.

“2022 was a rewarding year despite the challenges. Our focus will continue to be on our mandate. For us, the 2023 outlook is critical, and we will take every opportunity it presents to deliver more value to our stakeholders.

on many projections for the year 2023, it will most likely constitute more challenging times, with many small businesses taking the hit. However, in all these and against all odds, we remain resolute and optimistic about a brighter tomorrow for DBN and the Nigerian MSMEs,” the CEO said.

Participants at the AGM also approved the appointment of Mr. Aminu Umar-Sadiq, as a non-executive director of the bank and appointment of Mr. Omar Sefiani, as an alternate director.

The board of directors were also authorized to fix the designations of Messrs Aminu Umar-Sadiq and Omar Sefiani, pursuant to the requirements of clause 9.5.7 of the bank’s Articles of Association.

“The Development Bank of Nigeria will deepen its commitment to continue to expand funding for Nigerian MSMEs through our Participating Financial Institutions.

“The Bank will continue to engage with all stakeholders to search for solutions and influence policies aimed at addressing the constraints faced by Micro, Small, and Medium Scale Enterprises, especially as they relate to access to finance and building their capacity to upscale sustainably.

“In the coming year, especially given the context of the general election and the uncertainties engendered by political transition, the Bank will intensify its efforts to develop ideas, policies, programmes, and projects to boost growth, help bolster macroeconomic frameworks, reduce financial vulnerabilities, provide support to vulnerable population groups and reduce the long-term impacts of the global shocks of recent years on the MSMEs,” DBN chairman, Dr. Shehu Yahaya said.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


SendShareTweetShare
Previous Post

Ex-Minister of Labour, Musa Gwadabe Dies At 86

Next Post

ETI Commits To SMEs, Fintech Growths In Africa

Mark Itsibor

Mark Itsibor

Mark Itsibor is a journalist and communication specialist with 10 years of experience, He is currently Chief Correspondent at LEADERSHIP Media Group and writes on Finance, Economy, Politics, Crime, and Judiciary. He has a B.Sc in Political Science, Post Graduate Diploma in Journalism (Print), and B.A in Development Communication. His Twitter handle is @Itsibor_M

You May Like

JUST-IN: NCAA Suspends All 737 Aircraft In Max Air Fleet
Business

NCAA Names Max Air ‘Most Unresponsive Domestic Airline’ To Passenger Complaints

2025/07/03
Savannah Energy Empowers 100 Students
Business

Savannah Energy Empowers 100 Students

2025/07/03
BIC Reaffirms Commitment To Youth Empowerment Through Creative Initiatives
Business

BIC Reaffirms Commitment To Youth Empowerment Through Creative Initiatives

2025/07/03
Ecobank Nigeria To Reward  500 Customers
Business

Ecobank Group, Google Cloud Partner To Accelerate Financial Inclusion, Innovation Across Africa

2025/07/03
Don’t Rush Into Businesses You Know Nothing About, Stakeholders Warn Retirees
Business

Businesses Sustain Positive Growth Momentum Despite High Prices

2025/07/03
NLNG Delivers 3 LPG Cargoes To Local Market In December
Business

‘Tech Domestication To Broaden Local Content In Energy Sector’

2025/07/03
Leadership Conference advertisement

LATEST

FCT Primary School Teachers To Call Off Strike After Wike’s Intervention

WHO Launches Global Push For 50% Tax Hike On Tobacco, Alcohol, Sugary Drinks 

Court Sentences Kano TikToker ‘Tsulange’ To Jail Over Indecent Conduct

Federal Gov’t Approves 37 New Evacuation Routes To Curb Oil Theft

‘PDP Members Leaving Party Carcass For Wike, Cronies’, Says Dele Momodu

7 Akwa Ibom Reps Dump PDP, YPP For APC

Granting Bandits, Terrorists Amnesty Not Our Mandate — DHQ

I Won’t Reveal Details Of Rivers Peace Deal – Wike  

Stop Using Nigerians For Selfish Politics, Wike Warns Opposition Coalition

NMCN Inducts 365 Foreign-trained Nurses 

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.