FBN Holdings third quarter profit rose by 141.29 pct
First Bank Holdings has recorded an impressive result for the third quarter ended Sept. 30, 2017 as its profit increased to ₦16.07 billion representing 141.29 per cent.
The company’s third quarter financial result was released by the Nigerian Stock Exchange (NSE) on Thursday.
The result showed that the company’s Profit Before Tax increased by 71.22 per cent to ₦19.81 billion from ₦11.57 billion recorded in the corresponding period of 2016.
A breakdown of the company’s nine months’ result indicated that interest income rose to ₦123.69 billion from ₦108.38 recorded in the corresponding period of 2016.
Its fees and commission income dropped to ₦17.52 billion from ₦17.99 billion recorded in the corresponding period of 2016.
However, Net Insurance premium revenue declined from ₦3.34 billion to ₦2.54 billion in the period under review.
The company’s total assets surged to ₦4.86 trillion from ₦4.74 trillion reported in Dec. 2016.
Loans and Advances to customers stood at ₦2.04 trillion from ₦2.08 trillion recorded in Dec. 2016.
Total Liabilities inched up to ₦4.23 trillion in contrast with ₦4.15 trillion achieved at the end of 2016 financial year.
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