Greenwich Hold Company Reports Strong AGM Performance

At its maiden Annual General Meeting (AGM) in Lagos, shareholders of Greenwich Hold Company commended the board for its strong financial performance. Resolutions approved included a proposal to increase share capital, subject to regulatory approval, and the re-election of directors, including Dr. Umar Faruk and Sir Sundai Nwosu.

The company reported a 131.9% increase in gross earnings, totaling N64.23 billion, while profit before tax rose by 71% to N19.29 billion, up from N11.89 billion the previous year. Total assets increased by 69% to N309.12 billion, and shareholder funds rose by 67% to N76.71 billion.

Custom deposits climbed by 80.5% to N173.84 billion. Chairman Kayod Falowo noted the company's commitment to maintaining strong cost discipline despite inflationary pressures and highlighted ongoing investments in technology and branch expansion.

The group’s Managing Director, Samson Ariyibi, discussed strategic priorities for the next two years, including raising additional capital to meet new minimum capital requirements ahead of a 2027 deadline.