LBIC Resumes Dividend Payments After 10-Year Break, Shareholders Applaud

LBIC has resumed dividend payments after a decade, receiving commendation for declaring dividends at its 20th Annual General Meeting in Lagos. The bank's improved financial performance, with significant growth in key indicators from 2023 to 2024, led to this decision.

Gross earnings rose by 58%, while profit before tax increased by 40%, reaching N829 million. The Chairman, Hakeem Ogunniran, praised LBIC's management for achieving positive results despite economic challenges.

Shareholders had long awaited dividends, and the bank's turnaround from negative earnings to profitability marks a significant milestone in its financial journey.