“We achieved strong financial progress in 2015 as the group recorded a 44 per cent growth in PBT to ₦75 billion from ₦52 billion in 2014, with significant contribution from our securities trading business,” he said.

Wigwe attributed the growth to the bank’s diversified business model and robust risk management framework.

He said the capital raising exercise would be done at the appropriate time.

“We are not issuing anything now, we just want to get the shareholders’ approval, we will issue it at the appropriate time,” he stated.

Wigwe said that the bank would continue to take proactive steps to ensure optimisation of its capital structure in terms of both debt and equity to maintain a robust balance sheet.

Mrs Mosun Belo-Olusoga, the bank’s Chairman, said the capital raising would enable the bank maintain a robust Capital Adequacy Ratio and withstand regulatory headwinds.

Belo-Olusoga said that the bank would continue to grow in spite of external forces.

The bank’s profit after tax grew to N66 billion as against N30 billion achieved in the comparative period.

Its gross earnings stood at N337.4 billion in contrast to the N245.4 billion in 2014, indicating a growth of 38 per cent.

Also, interest income grew by 17 per cent to ₦207.8 billion from ₦176.9 billion in the previous year due to improved income from lending activities and increased yield on investment securities.

The bank’s non-interest income stood at ₦129.4 billion, an increase by 89 per cent from ₦68.4 billion in 2014