The Central Securities Clearing System (CSCS) Plc has reported a remarkable financial performance for the year ended December 31, 2024, achieving significant double-digit growth across revenue and profitability metrics. The company’s audited consolidated and separate financial statements revealed a 37% surge in total revenue to N26.1 billion, up from N19.0 billion in 2023.
Profit before tax climbed 24% year-on-year, reaching N13.8 billion compared to N11.2 billion the previous year. This strong showing was primarily driven by a robust 62% increase in fee-based income, which grew to N11.9 billion from N7.3 billion, reflecting the buoyancy in capital market activities. Ancillary services also recorded a notable 27% rise, totaling N10.3 billion, up from N8.1 billion in 2023—boosted by enhanced service delivery and greater client engagement.
The company further strengthened its financial position with total assets increasing by 22% to N64.4 billion, from N52.8 billion a year earlier. Key performance indicators underscored this growth, with return on average equity at 30%, return on average assets at 20%, and earnings per share climbing to 239 kobo from 202 kobo in 2023.
Chairman of the Board, Mr. Temi Popoola, lauded the company’s performance despite macroeconomic headwinds. “Amid a challenging operating environment, we stayed focused and delivered impressive outcomes across key metrics. Our ability to consolidate on core strengths while exploring growth opportunities enabled us to grow gross earnings by 37%, reaching N26.1 billion,” he said.
“In recognition of our resilient performance and consistent value delivery to shareholders, the Board is pleased to propose a dividend of N1.76 per share, translating to a total payout of N8.8 billion,” Mr. Popoola added.
Managing Director and Chief Executive Officer, Mr. Haruna Jalo-Waziri, emphasized CSCS’s agile and sustainable business model. “Our results reflect the robustness of our income streams across traditional and emerging business lines. By leveraging technology and strategic innovation, we increased operating income by 44% to N22.2 billion and held our cost-to-income ratio at 47%, underscoring our operational efficiency,” he stated.
Looking ahead, CSCS reaffirms its commitment to innovation-led growth and value creation for all stakeholders.
About CSCS:
The Central Securities Clearing System (CSCS) Plc is a premier infrastructure provider in the Nigerian capital market. With a diversified shareholding structure—including the Nigerian Exchange Group, top-tier banks, investment banks, and private investors—CSCS operates as the Central Securities Depository, playing a vital role in market transformation through digital innovation, efficient settlements, and regulatory compliance.
CSCS provides depository services for a wide range of securities including equities, corporate bonds, sovereign instruments, mutual funds, ETFs, and commodities. The company is licensed and regulated by the Securities and Exchange Commission (SEC) and operates under the Investment and Securities Act 2007 and the Companies and Allied Matters Act 2004.
Stay informed, Stay ahead with The Ameh News
Discover more from Ameh News
Subscribe to get the latest posts sent to your email.
