Auto Bucks Lenders, a subsidiary of Alert Group, has reported a profit growth of over 100 per cent since its inception.

In a statement on Tuesday, the company disclosed this during its annual regional customer forum held in Ibadan recently.

According to the Group Chief Executive Officer of Alert Group, Kazeem Olanrewaju, the firm’s growth was supported by increases in total assets, gross loan portfolio, and shareholders’ funds.

The Ibadan branch has surpassed a GLP of N3bn in two years.

Olanrewaju attributed the performance to customer loyalty and the leadership of the Regional Manager, Ashiru Abideen.

“The group’s financial progress, including over 100 per cent growth in profitability and performance across key indicators such as total assets, gross loan portfolio, and shareholders’ funds. I would attribute this success to the steadfast loyalty of customers, resilient leadership of the Regional Manager, and continued support as the institution looks to scale even greater heights.”

The event also introduced Green Bucks Limited, a new subsidiary specialising in the provision of solar energy solutions through sales, installation, and maintenance services.

Auto Bucks Lenders also highlighted its new WASH Loan Product, developed in partnership with Aqua for All, aimed at supporting sustainable projects.

Also, the Chief Executive Officer of Auto Bucks Lenders, Adetoun Olasunkanmi, has said the company is expanding its operations to additional states in the South-West.