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Interswitch Group has recorded a rebound in profit which surged by 1,102% to N14.7 billion in the Full Year period that ended March 2025, as a jump in customer revenues boosted the top line, from a loss position the previous year.
Revenue from contracts with customers rose to N137.5 billion up from N91.65 billion as at March 2024.
Revenue from its card scheme, Verve, surged by 39%, contributing approximately 32% of the group’s total revenue, while core payments processing grew by 43%, making up 39% of group income.
Non-Transaction Revenue saw the most rapid expansion, jumping by 81% year-on-year to N34.3$ billion.
This includes services like e-invoicing for governments (FIRS in Nigeria, KRA in Kenya) and pension remittance platforms.
Nigeria remains the primary source of Interswitch profit , contributing a commanding 90% of the total revenue.
Operating profit rose to N29.6 billion, up 206%, compared to the previous period.
Net finance costs fell to N6.23 billion, while profit before tax hit N23.38 billion from a loss position in the previous period.
Interswitch paid N8.66 billion in corporate taxes for the period.
Interswitch Holdings Limited was incorporated on 13 August 2019 as a private company limited by shares. Interswitch Holdings acquired 100% of the shares of Interswitch Limited on 5 November 2019 via a share exchange agreement as part of the Group reorganization exercise.
The Group’s consolidated financial statements comprise the financial statements of Interswitch UK Ltd and its subsidiary – Interswitch Limited Verve International and its subsidiary company –Verve Card Services Limited, Interswitch East Africa (Uganda) Limited, Interswitch Africa Holdings Limited, Interswitch Financial Inclusion Services Limited, Interswitch Africa One Plc, among others.
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