Custodian Investment grows profit by 9.29% in Q3

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By Kayode Tokede

Custodian Investment Plc, an investment holding company with significant interests in life and non-life insurance, pension fund has released its Financial Report for the period ended 30 September 2020 with 42per cent growth in gross revenue to N22.52 billion in Q3 2020 as against N15.86 billion in 2019.

The reported filed at the Nigerian Stock Exchange showed gross revenue jump to N57.53 billion in nine months as against N46.32 billion in 2019.

The profit after taxation showed a 9.29per cent rise to N1.5 billion in Q3 2020 as against N1.37 billion in 2019.

The profit for the nine months period was an improvement to N6.04 billion from N5.46 billion in 2019.

Custodian Investment is the investment holding company that resulted from the successful merger of Custodian and Allied Insurance Plc and Crusader (Nigeria) Plc. Custodian Investment Plc was incorporated on 22 August 1991 as a private limited liability company under the name Accident and General Insurance Company Limited. It changed its name to Custodian and Allied Insurance Plc on 5 February 1993, became a public limited liability company on 29 September 2006 and later changed its name to Custodian Investment Plc on 24 May 2018.