Custodian Investment Increases Revenue By 14% To N85 Billion In 2021

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Custodian Investment Increases Revenue By 14% To N85 Billion In 2021
Custodian Investment Increases Revenue By 14% To N85 Billion In 2021

Despite operating in a difficult environment, Custodian Investment Plc, a diversified non-bank financial institution, says its gross revenue will increase by 14 percent to N85.5 billion in 2021.

 

After adjusting for a non-recurring one-time gain from the prior year’s result, profits from continuing ordinary operations increased by 18 percent, according to the company’s unaudited results for the year ended 31st December 2021.

 

The Custodian Group’s shareholders’ fund increased by 14 percent, from N47.6 billion to N54.3 billion, after paying dividends totaling N3.24 billion, or N55k per share, during the year.

 

Wole Oshin, group managing director of Custodian Investment, attributed the result to the company’s resilience, the diversity of its product offerings, the commitment of its staff, and the board of directors’ unwavering support.

 

Oshin expressed optimism for the Custodian Group’s future, which includes investments in life and non-life insurance, pension fund administration, trusteeship, and real estate.

 

He stated that the incremental contribution from the Group’s real estate business segment, which is being restructured, will help the company grow.

 

While acknowledging their contribution, Oshin praised the Custodian Group’s clients, agents, brokers, and all other stakeholders in the insurance, pension, and investment value-chain.