Signature Bank Limited has recovered from a loss before tax of N2.87 billion in 2023 financial year to a profit before tax of N768.05 million in 2024. The lender also declared gross earnings of N12.84 billion in 2024, about 374per cent increase over N2.69 billion reported in 2023, driven by strong performance in both core lending and fee-based income lines.
Signature Bank expanding substantially with total assets more than doubling to N178.9billion from N61.22 billion in 2023, while customer deposit stood at N130.6billion in 2024, about 233 per cent increase from N39.20 billion in 2023, to reflect increasing confidence in its brand and services.
The acting Chairman, Signature Bank, Alhaji Tijjani Borodo, disclosed these figures while addressing shareholders during the bank’s third annual general meeting (AGM) held virtually.