BDAN Grows Income by 138.9%, Admits New Directors

Nume Ekeghe

The Bank Directors Association of Nigeria has reported a remarkable 138.9 per cent increase in total income for the year end 2023.

BDAN Chairman, Mustafa Chike-Obi disclosed this at its 27th Annual General Meeting (AGM), held via Zoom Teleconference recently.

He disclosed that the AGM saw the retirement of three directors by rotation and the introduction of two new directors to the board, reflecting the Association’s continued growth and strategic evolution in the Banking sector.

Chike-Obi noted that the impressive financial performance of the Association, which saw a 138.9 per cent increase in total income year-on-year compared to 2022 underscores BDAN’s expanding influence and the effectiveness of its initiatives over the past year.

Chike-Obi highlighted the association’s continued success in advocating for member Banks, noting that BDAN has achieved significant recognition as a key player in the industry. This recognition has afforded the Association a voice in critical decision-making processes, further strengthening its role in the Banking sector.

He called on Managing Directors, Chief Executive Officers, and both Executive and Non-Executive Directors of Banks to support BDAN’s strategic initiatives.

He said: “The Association’s total income performance saw an impressive increase of 138.9 per cent year-on-year compared to 2022 and Net Assets grew by 13.4 per cent. These significant achievements are a direct result of your unwavering support for BDAN’s strategy and vision.”

On her part, the Chief Executive Officer, BDAN, Adebukola Orenuga, provided a detailed account of the Association’s advocacy efforts over the past year. She emphasised BDAN’s continuous engagement with Banks, industry stakeholders, regulators, and the different arms of government and highlighted the Association’s three key strategy areas which are Advocacy, Capacity Building and Research & Development.

She said: “Over the past year, BDAN has been at the forefront of critical advocacy efforts and discussions aimed at collaborating with industry stakeholders, regulators, the Legislature and Executive branches of government.

“Our mission has been to drive necessary regulatory reforms and foster meaningful partnerships and collaboration across key areas in the sector, which aligns perfectly with the theme of this year’s Bank Directors’ upcoming summit, Propelling Economic Growth: Leveraging Partnerships to Unlock Economic Prosperity and I encourage all key economic stakeholders to participate in this summit, which promises to be both enlightening and productive.”