Lagos, Nigeria – December 18, 2024: SavePouch Africa, a trailblazer in innovative banking solutions, recently held its first Annual General Meeting (AGM) in Lagos, highlighting its stellar financial performance and strategic vision for the future.
The AGM marked a significant milestone for the bank as stakeholders were assured of the institution’s strong financial performance and unwavering commitment to driving growth across Africa.
In his address, the Chairman of the Board of Directors, Mr. Adetunji Olatunbosun, emphasized the bank’s dedication to delivering consistent profitability and long-term value. “SavePouch Africa is built on innovation and trust. We are focused on creating inclusive financial solutions that empower communities and businesses across the continent,” he said.
The Managing Director/CEO, Mrs. Kemi Adesina, expressed optimism about the bank’s trajectory for 2025, promising to exceed the achievements of 2024. “With our innovative digital platforms, expanding service offerings, and customer-centric approach, we are confident in delivering exceptional results that will redefine banking in Africa,” she said.
SavePouch Africa reported remarkable results for 2024, including Total Gross Earnings of ₦38.20 billion, Profit Before Tax (PBT) of ₦10.50 billion, Total Customer Deposits of ₦200.30 billion, and Total Loans of ₦150.80 billion. Key metrics such as a Net Interest Margin (NIM) of 78%, Return on Equity (ROE) of 55%, and Cost of Funds (CoF) of 2.5% underscore the bank’s operational efficiency and growth potential.
With a strong foundation and an innovative approach, SavePouch Africa is poised to continue reshaping the financial landscape, empowering customers, and fostering economic development across Africa.