FBN Holdings Interest Income Dips by 3% Amid 16% Rise in Profit

By Dipo Olowookere

One of the five biggest banks operating in Nigeria, FBN Holdings Plc, recently released its financial scorecard for the first six months of this year.

In the financial statements, the company disclosed that its interest income depreciated by 3 percent to N225.404 billion from the N232.378 billion recorded in the first half of last year.

Also, its net interest income depreciated to N149.640 billion from N164.085 billion.

However, the firm said its operating profit increased to N38.854 billion from N35.434 billion, while the profit before tax went up to N38.876 billion from N35.628 billion, with the profit after tax growing by 16 percent to N33.520 billion from N29.486 billion.

According to the financial statements, the total assets of FBN Holdings stood at N5.307 trillion as at June 30, 2018 against N5.237 trillion as at December 31, 2017.

In addition, the total liabilities closed at N4.646 trillion in the period under review versus N4.558 trillion as at December 31, 2017.

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