The chairman of
Isokpan who disclosed this at the company's annual general meeting (AGM) held in
According to him, given the global economic trend, when most country's economy nose-dived,
"As it affects us, it affects institutions' performance all over the country. However, FSDH, given that it was our first year, our consolidation year, we have met expectations," he noted.
He maintained that the company, leveraging on its culture of excellence and conservatism, will strive to meet the expectation of shareholders in the area of incremental growth in capital, dividend returns, returns on capital and excellent corporate image.
"So far, we have had a culture of excellence and I believe this will take the company far. Coming year, we expect our performance to be much better; we expect to focus on the products that will drive our profitability," he added.
Also speaking, Mr.
He said, "The company's performance is good. We should not forget that they only recently just got the merchant banking license and this is their first audited financials as a merchant bank. If you look at it and compare it with their peers in the industry, my view is that they have done well.
"The foundation is very strong, and also the brand. Even as a discount house which has been in operation, one must credit them. When most of the other discount houses have collapsed, FSDH have grown from strength to strength and my belief is what you see in terms of performance is only the beginning of much better things to come."
Continuing, he appealed to the Central Bank of
He said, "I believe that the Central Bank of
"They are regulatory approvals that are still awaited that will allow
"The only regulation I think the CBN should look at is how they will allow discount houses consolidate some of the other group companies and that will show the true picture of the company."
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