FBN Holdings declares N23.84bn profit before tax

First Bank of Nigeria

LAGOS, JULY 27, 2016 – FBN Holdings Plc on Tuesday declared a profit before tax of N23.84 billion for the second quarter ended June 2016.

This was against the N25.14 billion posted in the comparative period of 2015.

The report is contained in the company’s audited result released by the Nigerian Stock Exchange (NSE) on Tuesday in Lagos.

The profit represented a decrease of N1.31 billion or 5.19 per cent when compared with figure for 2015.

The report also showed that profit for the year went down from N17.46 billion to N15.13 billion, representing a drop of N2.33 billion.

The company’s net interest income stood at N62.18 billion against N126.06 billion in the corresponding period of 2015, showing a decline of N63.88 billion or 50.68 per cent.

Its interest income decreased to N85.75 billion from N110.490 billion recorded in the preceding period.

The total assets rose from N4.17 trillion recorded in December to N4.80 billion in June, 2016 while total Liabilities grew from N3.59 trillion to N4.19 trillion.

Its loans and advances to customers surged to N2.11 billion from N1.82 billion reported in the corresponding period.

DCSL 90X780