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The Institute also said that its net assets and net
operating surplus rose by 7.3 percent and 4.9 percent to N6.66 billion and
N837.94 million respectively in 2022.
Speaking at the event, the President/Chairman of Council,
CIBN, Mr. Ken Opara, said that the growth in the institute’s financial position
was among other things due to its efficient utilization of resources.
“I am delighted to inform you that despite the macroeconomic
headwinds in 2022, the Institute recorded a modest growth in the financial
position.
“The improved performance recorded in the year under review
was as a result of efficient utilization of resources and the deliberate focus
on revenue generation drive.
“While appreciating the management of the institute for
their efforts, it is important to state that the institute will remain focused
and committed to the implementation of our strategic plan.”
Presenting the Financial report for 2022, the National
Treasurer CIBN, Mrs. Mojisola Bakare-Asieru said: The total revenue generated
for the year ended 31st December 2022 increased to N2.06 billion from the N1.76
billion figure recorded in 2021, resulting in an increase of 16.92 percent.
“This increase was attributable to the improved performance
of the various Directorates.
“I must recognise the dexterity of the management of the
Institute in achieving 93 percent of the 2022 budget of N2.22 billion and
commit to posting a better performance in the current year.
“The Institute recorded a net operating surplus before
impairment and amortization of N837.94 million compared to the 2021 result of
N799.17 million.
“This growth in surplus of 4.86 percent was as a result of
efficient utilization 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 percent .
“Asides the general nation experienced in the country and
all over the world, additional staff were employed at strategic levels to
reinforce the operations of the Institute.”
According to Bakare-Asieru, the Institute made an effort to
digitize its operations to among other things create new revenue streams and
new customer segments.
She added: “The digitization process which has commenced
would ensure that the institute repositions its brand to attract the younger
generation of bankers by integrating automation into the millennial banking
experience and service process.”