Premium Pension Limited, one of the leading Pension Fund Administrators in the country saw its revenue rose by 18.34 per cent to N10.039 billion from N8.483 billion recorded in 2021.
The growth in revenue has resulted in a Profit Before Tax (PBT) of N3.988 billion, up by 32.99 per cent year-on-year, while Profit After Tax (PAT) stood at N2.654 billion, representing 35.51 per cent above previous year levels.
The chairman, Board of Directors of Premium Pension Limited, Mr Ibrahim Alhassan Babayo, made the disclosure at the 18th Annual General Meeting (AGM) of the company held at its corporate head office in Abuja.
Mr. Babayo in his address to shareholders said the total number of retirement Savings Account Holders (RSAs) registered in both the public and private sector organizations as at 31st December 2022 stood at 774,235 representing 7.85 per cent of the industry count of 9,862,129.
A peep into PPL’s result showed that it has grown its Asset Under Management (AUM) to N1.000.41 trillion at the end of 2022 financial year despite increasing economic challenges and stiff competition in the industry.
This represents a growth of N120.93 billion over 2021 year-end of N879.48 billion, representing a year-on-year growth rate of 12.08 per cent.
Premium Pension paid total dividend of N2.65 kobo amounting to N1.740 billion, representing N1.20 kobo interim and N1.45 kobo final dividends of N788.14 million and N952.833 million respectively.
The chairman also informed shareholders that this dividend represents the 15th consecutive year in which the company has paid dividends.
He said: “Today, we celebrate a significant milestone of attaining over N1 trillion Assets under Management (AuM), a momentous achievement that demonstrates our resilience, innovation and commitment.
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