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TO HONOR AND SALUTE THE EFFORTS OF AFRICAN LEADERS LIKE DR. ADESOLA KAZEEM ADEDUNTAN WHO HAVE CONTRIBUTED TO THE SOCIAL, ECONOMIC, AND ENVIRONMENTAL DEVELOPMENT IN AFRICAN COUNTRIES.
Whereas, Dr. Adesola Kazeem Adeduntan has been the managing director and CEO of First Bank of Nigeria Limited and Subsidiaries since January 1, 2016; and
Whereas, under his leadership, the bank has made giant strides with significant outcomes and achievements, including a record of growth in the bank's average assets to N8.2 trillion in Q3 of 2021 from N3.9 trillion in December of 2015; increased Group deposits base to N5.1 trillion in Q3 of 2021 from N2.9 trillion in December of 2015; and
Whereas, under the leadership of Dr. Adeduntan, First Bank of Nigeria experienced growth in its profit before tax to N52.7 billion in Q3 of 2021 from N10.2 billion in December of 2015. He also reduced the bank's NPL ratio from double-digit figures in 2016 to a single digit figure in 2021; and
Whereas, Dr. Adeduntan has also been able to reduce the cost of risk to 2% in Q3 of 2021 from a double-digit figure in 2016; and
Whereas, he has transformed and repositioned the international subsidiaries businesses of the bank for improved performance, such that all are returning positive profitability and have upgraded the core banking platform with improved processing capacity, availability, and have better integration agility; and
Whereas, the members of the South Carolina House of Representatives wish to take this time to salute the efforts of Dr. Adesola Kazeem Adeduntan. Now, therefore,
Be it resolved by the House of Representatives:
That the members of the South Carolina House of Representatives, by this resolution, honor and salute the efforts of African leaders like Dr. Adesola Kazeem Adeduntan who have contributed to the social, economic, and environmental development in African countries.
Be it further resolved that a copy of this resolution be presented to Dr. Adesola Kazeem Adeduntan.
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