VFD Group Announces N11.2 Billion Pre-Tax Profit

Beulah Godfrey

April 26, 2025
3 min read

VFD Group Plc, the parent company of VBank and a top investment firm in Nigeria, has announced its audited financial results for 2024. The new report shows an amazing recovery and strong growth across key areas. Strategic decisions and smart innovations helped the company move from a pre-tax loss in 2023 to major profits in 2024, proving its strength during tough global economic times.

In 2023, VFD Group reported a pre-tax loss of ₦1 billion as many businesses worldwide struggled with economic problems. However, by sticking to a smart plan and focusing on doing things better, the company turned things around in 2024.

On April 25, 2025, VFD Group released its audited report showing a pre-tax profit of ₦11.2 billion, a 1202% year-on-year (YoY) growth. This strong performance came from improving its investment portfolio and running operations more efficiently.

A major reason for the success was the big jump in net investment income. The company’s income rose by 95% to ₦59 billion in 2024, up from ₦30.3 billion in 2023. Even though investment expenses also grew, rising to ₦15.5 billion from ₦7.4 billion, VFD Group still managed to earn more income. This achievement shows the company’s skill in making smart investment moves and spotting market opportunities.

VFD Group’s financial performance in 2024 got a major boost from several important areas. Investment and similar income rose by 98% to reach ₦74.6 billion. Net revenue also went up by 90%, hitting ₦71 billion, thanks to its wide range of investments and creative financial products. Operating profit grew by 104% year-on-year to ₦48.8 billion, proving the company’s ability to create strong and steady returns.

VFD Group’s Market Value Doubles

The company’s success was not only seen in its profits but also in the stock market. As of April 22, 2025, VFD Group’s market value jumped by 116%, reaching ₦121.6 billion, compared to ₦56.2 billion at the start of the year. This growth shows that investors trust VFD Group’s strategies and believe in its future.

Company leaders credited this success to careful risk management, smart investments, and a strong focus on customer needs.

“These amazing results show the hard work and dedication of our team. Our plan to drive innovation and stay disciplined has helped us grow even in tough times,” said a company spokesperson.

VBank Drives Growth for VFD Group

VFD Group’s main subsidiary, VBank, played a big role in this success. As one of Nigeria’s leading digital banks, VBank expanded its services and grew its customer base, helping VFD Group diversify its revenue. The teamwork between VFD Group’s investment activities and VBank’s banking innovations strengthened the group’s position in Nigeria’s financial market.

Looking ahead, VFD Group plans to keep delivering strong value to customers, shareholders, and partners. The company will continue using technology and forming new partnerships to grow while carefully managing risks and investments.

“Our mission is to build long-term value and keep the strong momentum we have built in 2024,” a company official said.

The 2024 results mark an important moment for VFD Group. With a strong balance sheet, bigger market share, and a clear plan for the future, the company is ready to tackle new challenges and grab fresh opportunities in Nigeria’s financial industry.