By Modupe Gbadeyanka
Group Managing Director FBN Holdings Plc, Mr Urum Kalu Eke, has disclosed that the financial institution was on the part to more greatness following positive results lately.
Speaking on Thursday in Lagos at the company’s Facts Behind the Figures presentation on the floor of the Nigerian Stock Exchange (NSE), the Group’s chief said the bank had no issues with exposures.
He emphasized that the firm was not battling with fresh non-performing loans (NPL) in its books, noting its returns on equity (ROE) in the first quarter of 2017 rose to 12.4 percent from 2.1 percent in 2016.
According to Mr Eke, in 2015, the lender earmarked N119 billion on NPL, while a year later, N216 billion, which had a huge impact on its dividend payment to shareholders.
The GMD assured that the bank’s five major non-performing accounts would be dropped off very soon.
Mr Eke noted that FBN Holdings Plc has shown that it remains a bank to be trusted, saying this is why depositors and investors want to continue to associate with it.
He said the lender will continue to take its leadership role in the financial system and come up with various innovative ideas to make customers and shareholders happy.
The event was witnessed by some of the bank’s top management staff, members of the stock exchange as well as journalists.
In the full 2016 financial year ended December 31, FBN Holdings Plc posted a gross earnings of N581.8 billion, up by 15.7 percent year-on-year from N502.7 billion the previous year.
Its net interest income stood at N304.4 billion compared with N265.2 billion in 2015, representing 14.8 percent rise.
During the year, its profit before tax rose to N17.1 billion from N15.5 billion a year earlier, indicating 10.3 percent growth.
Adedapo Adesanya