Fbn holdings records n52bn nine month profit

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FBN Holdings Records N52bn Nine-Month Profit

FBN Holdings Plc, a leading financial services company in Nigeria, has announced a significant profit of N52 billion for the nine-month period ended September 30, 2022. This represents a significant increase of 34% compared to the same period in 2021.

The company's profit before tax (PBT) stood at N52.1 billion, up from N38.9 billion in the corresponding period of 2021. The profit after tax (PAT) also rose to N43.4 billion, up from N31.4 billion in the same period last year.

The impressive performance was driven by the company's diversified revenue streams, including interest income, fees and commissions, and other income. The company's interest income increased by 23% to N143.4 billion, while fees and commissions rose by 15% to N24.4 billion.

FBN Holdings' CEO, Mr. Uche Aboh, attributed the strong performance to the company's strategic initiatives, including the expansion of its digital banking platform and the growth of its asset base. He also commended the company's staff for their hard work and dedication, which he said had contributed significantly to the company's success.

The company's nine-month results are a testament to its resilience and ability to navigate the challenges in the Nigerian economy. FBN Holdings is one of the largest financial services companies in Nigeria, with a presence in retail and commercial banking, asset management, and other financial services.

Overall, the company's strong performance is expected to boost investor confidence and drive growth in the Nigerian financial sector.