FBN Holdings Grows Profit to N59.7bn in 2018 as EPS Rises to N1.65k

By Dipo Olowookere

On Friday, the board of FBN Holdings Plc announced the earnings of the company for the year ended December 31, 2018.

In the financial scorecard briefly analysed by Business Post, the firm raked N59.7 billion as profit for the year as against the N37.7 billion of the previous year.

This was as the profit before tax closed at N65.3 billion in the year under review compared with the N54.1 billion posted in 2017.

However, the net interest income recorded by the company depreciated to N284.2 billion from N331.5 billion, while the net interest income after impairment charge for losses rose to N197.3 billion from N181.1 billion.

Also, the fee and commission income appreciated to N92.7 billion from N74.5 billion, while the net gains on foreign exchange rose to N32.6 billion from N21.1 billion.

According to the financial statements, the gross earnings for the year declined to N583.5 billion from N595.5 billion in 2017 financial year.

During the year under consideration, the earnings per share (EPS) of the FBN Holdings increased to N1.65k from N1.37k.

View the full results HERE

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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