IEI-Anchor Pensions Grows Assets by 23%, Bounces Back to Profitability
The IEI-Anchor Pensions Managers Limited, has said that it grew its assets by 23.4 per cent for the year ended December, 2016 from N46 billion in 2015 to N58 billion in 2016.
The company, also said it grew its gross revenue by 21 per cent from N451 million in 2015 to N544 million for the year under review.
The company’s chairman, Senator Jonathan Zwingina, who disclosed this at the annual general meeting (AGM) of the company held in Abuja, said despite the huge challenges in the 2016 business year, the company, was able to toe the path of profit.
“We returned to the path of profit this year from the previous loss position of N17 million after tax to a profit after tax position of N81 million.
“This represents a massive leap. Consequently, earnings per share rose to 3 7kobo from negative eight kobo position in 2015”.
He said the company, also recorded 20 per cent growth in Retirement Savings Account (RSA) PIN generation from 8,000 to 10,000 account holders.
“Our RSA unit price grew from 1. 7706 to 1. 9411, while our Retiree Unit Prices also grew from 2.0079 to 2.2331 as at June 2017, we have moved to 2.0727 for the RSA and 2.3939 for the Retiree funds respectively”, he stated.
On future plans of the company, the IEI-Anchor Pension chairman said:”We reviewed our foundation for the structured growth we desired. We found a need to renew the culture of stronger corporate and individual discipline, focus, customer sensitivity and developing more fully our core values namely – dependability, integrity, friendliness, proficiency and innovation,” he stated.
He said these values, which have continued to develop , though abstract, has given the company, the right mental attitude for its destination; which is to be an efficient, trusted and competitive elite organisation.
“Our goal was to establish a new order where, at the mention of our corporate name, people, our clients, all stakeholders will feel a sense of peace”.
According to him, this will not take place unless the company undertakes thorough self-scrutiny – staff and management mental outlook on matters, processes, timelines, self-management, who really the customer is – internal and external, what would make the company the true bride . in various risks classifications.
“As we look up to God Almighty for life and the future, we will rapidly consolidate on our achievements for both long and short term goals. We are perfecting our strategies and tactics for improved market share, funding, return on investments and profit enhancement through efficient cost management,â€ he said.