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Afribank
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Home
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Our Vision
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Our Mission
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Background
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Afribank Group
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Financial Overview
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Afribank Awards & Achievements
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Principal Group Addresses

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Afribank Group

 

 

Our Vision
"To establish Afribank as a prominent financial institution in the commercial banking sector and the leading provider of investment banking services to retail customers.".

 

 

Our Mission
"To facilitate our customers' success by providing world-class, one-stop financial services".

 

 

Background
Incorporated in 1960, Afribank is a broadly based financial services institution with activities in retail, investment and commercial banking, stock broking, insurance broking, trustee and investments, estate development, pension funds, management & custody and registrar services.
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Afribank was converted to a public company in 1992 and is listed on the Nigerian Stock Exchange.
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Nigerian citizens and associations hold 82% of the equity with Asset Management Nominees Limited, owned by Afribank staff, retaining a 18% shareholding.
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Afribank has strong brand recognition facilitated by its wide branch network developed over 48 years. With over 300 branches it has the 4th largest coverage in Nigeria.
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The Afribank Group

Group
Major Services
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Afribank Nigeria Plc
  • One of the oldest commercial and investment banks in Nigeria
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Afribank Capital Markets Limited

  • An issuing house and provider of financial advisory houses
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Afribank Insurance Brokers Ltd
  • An Insurance broking company
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ANP International Finance Ltd
  • Provides correspondent banking services that include trade services, treasury management and debt raising
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Afribank Estate Company Limited
  • A real estate development and facility management company with notable properties in key business centres across Nigeria
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Afribank Trustees & Investments Limited
  • A trusteeship and portfolio management company
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AIL Securities Limited
  • A Stock broking company
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Afribank Registrars Limited
  • The firm creates and maintains stockholders' register of members
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Financial Overview

Total Assets of Afribank Group at 31st March 2008, amounted to N352bn and Shareholders Funds were N39.5bn. In December 2007 a public offer was made to subscribe for 4bn ordinary shares of 50 kobo each at N25 per share. The shares were fully subscribed and N94.5bn in net proceeds were received after the year end. When reflected in Afribank's financial statements, Total Assets will rise to N446.5bn.
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The new funds will be used to expand branch network, upgrade information and communication technology infrastructure, deliver strategic business development capability and recapitalise certain subsidiaries, all part of Afribank's 5 year Strategy Programme.
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A summary of Afribank's trading performances and trading positions for year ended 31st March are set out hereunder:
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Financials *2008 2007
(Year to 31st March) N ml N ml
     
Total Assets 352,052 187,078
Loans & Advances 104,026 61,386
Total Deposits 219,790 136,262
Shareholders Funds 39,308 30,774
     
Gross Revenues 49,195 27,538
Profit before Tax 15,116 7,288
Profit after Tax 10,033 5,196
     
*Figures exclude N100bn new equity raised, N94.5bn net proceeds

 

Afribank Awards & Achievements

   
2007
   
2007
Appointed Primary Dealer in Federal Government of Nigeria Bonds
   
Euromoney Industrial Deal of the Year award by Project Finance International (UK)
   
2007
2007
2007
Multi-million Dollar facility for the development of a Cement Plant in Edo State, Nigeria
Multi-million Naira deal for Nigeria's Industrial & General Insurance Company Ltd for a cross border acquisition in Uganda
Funding & Business Support Programme for franchise operators & SMEs employing more than 200,000 Nigerians
     

Customer Recognitions

2008
2008
2008
UAC Franchising "Most Valuable Bank" Award in transforming UAC Franchising.
"Most Improved Bank" at the Kaduna International Trade Fair
Omatek Computers Plc "Best Supportive Bank"
 
 

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Principal Group Addresses

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AFRIBANK NIGERIA PLC
Afribank Plaza
51/55 Broad Street
P.M.B. 12021, Lagos
NIGERIA
Tel: 234 01 2641567-9, 2644135, 2663608
Fax: 234 01 2666327
E-mail: info@afribank.com

Website: www.afribank.com

SWIFT: AFRNNGLA
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AFRIBANK INSURANCE BROKERS COMPANY LIMITED
1, Oladele Olashore
P.M.B 12021, Lagos
NIGERIA
Tel: 234 01 7917240, 7917241
Fax: 234 01 5852365
E-mail: afribankinsurance@yahoo.com
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AFRIBANK ESTATES COMPANY LIMITED
4, Adekunle Odunlami, Ilupeju, Lagos
NIGERIA
Tel: 234 01 8129273, 7742577
Fax: 234 01 2718173
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AIL SECURITIES COMPANY LIMITED
94, Broad Street, Lagos
NIGERIA
Tel: 234 01 2660518
Fax: 234 01 2644131
E-mail: ailsecbrokers@lycos.com
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AFRIBANK REGISTRARS LIMITED
2C, Gbagada Expressway, Anthony, Lagos
NIGERIA
Tel: 234 01 7735963
E-mail: afribankregistrars@yahoo.com
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AFRIBANK TRUSTEES & INVESTMENTS COMPANY LIMITED
94, Broad Street, Lagos
NIGERIA
Tel: 234 01 2663551
Fax: 234 01 2646961
E-mail: afritrustem@webafrica.com
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AFRIBANK CAPITAL MARKETS LIMITED
Plot PC 28, Afribank Street, Victoria Island, Lagos
NIGERIA
Tel: 234 01 2616090, 2616089
Fax: 234 01 2620836
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ANP INTERNATIONAL FINANCE LIMITED
3, Harbourmaster Place, IFSC, Dublin 1
IRELAND
Tel: +353 1 670 0188
Fax: +353 1 670 0195
E-mail: info@anpi.ie
Website: www.anpi.ie
SWIFT: AFRNIE2D
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